MSNBC ran a spot last Thursday night where they talked about how most people who have their student loans paid for will travel or dine out with their newfound funds. These people, buried under excessive debt, are so creative in how they will spend our money. People who work for a living and play by the rules will now dip into their savings to pay the tuition bill of some unthankful individual who is smoking pot, on vacation, and eating at a five-star restaurant. The others will spend it on gambling or drugs. Isn’t that nice?
This forgiveness of student loans is wrong on so many levels. Joe Biden bought the votes of millennials and Gen-Z by promising to forgive $10K to $20K of any student with an open student loan. His plan ran into some roadblocks and is being bounced around in the courts. Today, Biden’s plan is a no go after being shot down by a Federal Judge in Texas. Biden is not about to stop. The Dems need the votes in 2024 they bought for the Mid-Terms with their plan. The next step for Biden is to ask the Supreme Court to intervene. He may wish it did not get to this point because he has little chance of the Court siding in his favor, and then Biden has run out of options. He will have reneged on his promise, but it did its job. He used it to avoid a massive gain by the Republicans and kept the Senate.
This plan, which some say could approach $1 Trillion, is a massive transfer of wealth. Let’s make it clear. There is no forgiveness here. The students who will benefit from this action will be the winners, but the American people will be the losers. These loans do not disappear. The burden shifts from those who signed a commitment to pay the loans to the rest of America, who derived no benefit and had no obligation to pay the loans until Joe Biden assigned them that obligation.
Biden’s plan will impact every American with an outstanding student loan. There is no provision for future borrowers, but you can be assured that this is the first step towards free college for all. How else can the Democrats justify “forgiving ” today’s loans but not tomorrow’s? It will not happen.
Biden is making a mistake trying to validate his Executive Order with a favorable decision by the Supreme Court. Trying to push a trillion-dollar, unpopular, and possibly illegal initiative upon the American people with the stroke of his pen and thinking the Supreme Court will support him is a foolhardy move. Chances were not good Biden could have gotten this action done legislatively, even with control of both Chambers.
One more impact his plan would have is exasperating the already high inflation rate. This “forgiveness” of student loans would be tantamount to pumping another trillion dollars into the economy. His action will further weaken the dollar and drive the inflation and interest rates higher, something the country does not need. The President does not have the power to spend money in such a fashion, which is what even Nancy Pelosi said a year ago. Finally, Nancy said something that Conservatives can agree. Too bad it took her thirty-five years, but we have been waiting for fifty years for Biden. Unfortunately, we are not done waiting on him.
Content syndicated from ConservatriveViewFromNH.com with permission
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Biden knew his executive order to “forgive” student loans was illegal and wouldn’t stand, but it was just another way to “buy” votes. Just like he (in what should have been illegal) drew down out National Oil Reservers to dangerously low levels to keep gas prices from rising further before the midterms.
Colleges have continually lowered their standards (while continually increasing costs) to pump out ultra liberal college graduates with no marketable degrees in majors like “Gender Studies” or “Climatology, or “Black or Islamic studies”. The colleges don’t care because the government now owns the student loan business so the colleges always get paid and the government gets all the interest on the loans. That’s why colleges have been increasing their tuition at an enormous rate (way above the inflation rate) for years. The indoctrinated students are angry because they can’t get jobs (except at Starbucks) but will always vote Democratic because they are promised “loan forgiveness” and are propagandized by Progressive ideology. In fact, exit polls showed that 63% of all young adults aged 18-29 voted Democrat. Except for the ever decreasing STEM majors, a higher education degree has pretty much become a scam.
Meanwhile, the real high paying six figure jobs (Plumber, Welder, Electrician) face massive shortages across the country because all those kids were getting their useless degrees instead of preparing for “real life” work. The government needs to stop all financial support of universities and remove their tax exempt status (let them stand or fall on their own), and get out of the student loan business. All the major Universities have tens of billions in endowments, yet they still get massive grants from the government paid for by us. Then the Department of Education needs to be dismantled. At this point they are just another bloated government waste of taxpayer dollars with thousands of employees and a 68 Billion dollar budget.
Of course that will never happen as this government continues its mission to destroy the American middle class and rule us by a cabal of elite Democrats and their compliant “woke” big business partners. They’ve already weaponized all the government three letter agencies (the FBI, the CIA, the IRS, and even the DOD) and the mainstream and social media against the political opposition. They promise to let the big businesses who support them keep their tax breaks and monopolies and, through our completely open border, they will get all the cheap foreign labor they could ever want. So the coup is almost complete. When they are finished there will just be two classes of people; the rich Democratic overlords in collusion with their subservient big business oligarchs and the poor masses. Just like any other Socialist/Communist state in the history of the world.