Biden Forces Country to Pay Other People’s Student Loans
If the so-called “Inflation Reduction Act” didn’t convince you that Democrats are driving up inflation on purpose so as to apply Vladimir Lenin’s strategy of crushing the middle class “between the millstones of taxation and inflation,” maybe this will do the job:
Biden is set to “forgive” up to $10,000 in federal student debt for those making under $125,000 annually, and $20,000 for Pell grant recipients, transferring the cost of the loans to the American public, the White House announced Wednesday.
The effect this will have on inflation — which is already stratospheric due to Democrats’ massive wasteful spending and war on energy — is so obvious that this move qualifies as economic sabotage. It serves no benign economic purpose.
Politically, it will help Democrats by turning out the vote among people who want others to pay their debts. But it will alienate everyone else with its staggering injustice. Why should members of the working class, who get jobs and raise families instead of goofing around, have to pay to prolong the adolescence of rich kids who would rather marinate in moonbattery that spend their time productively? Note that useless not to mention pernicious liberal arts programs — which these days consist mostly of lunatic left political indoctrination — are to be coercively financed by the public at large.
In a free country, it would not be up to a single man — a corrupt and senile man in this case — to determine whether people are responsible for the debts they willingly incur. In the USSA, we have centralized authority under our system of omnipotent, omnipresent Big Government.
However, even fellow Democrat Nancy Pelosi balks at Biden’s use of executive orders to assume the power of a dictator:
Congress, not the president, is the only body that can cancel student debt, Pelosi said in July of 2021, arguing that “the president can’t do it.”
Even Biden’s own executive branch agrees:
The Department of Education came to the same decision, arguing that the executive branch “does not have the statutory authority to cancel, compromise, discharge, or forgive, on a blanket or mass basis, principal balances of student loans, and/or to materially modify the repayment amounts or terms thereof.”
It would be wonderful if people in Washington were to remember that this is supposed to be America, not the banana republic it is becoming under Biden.
However,
Senate Majority Leader Chuck Schumer told Biden to provide as much relief as possible in a phone call Tuesday night, according to Politico, saying its “the right thing to do morally and economically.”
As usual with Schumer, this is a shocking inversion of the truth. Morally, student loan “forgiveness” represents grand larceny and the enslavement of working people to the liberal elite. Economically, it represents sheer malice:
The total estimated cost for Biden’s one-time cancellation is $300 billion, according to a study released Tuesday by the Wharton School of business at the University of Pennsylvania.
That $300 billion comes atop the Inflation Reduction Act’s $740 billion of brazenly wasteful spending on crap like eagle-killing wind turbines and lavish subsidies for the electric moonbatmobiles favored by rich leftists.
We have the same quality of leadership as Venezuela. Consequently, we will soon have the same level of inflation.
On a tip from Varla.
YOUR SUPPORT IS APPRECIATED
Donations buy time to produce more content. If you enjoy this site, please consider donating through Cash App to $moonbattery or through PayPal by clicking the button below:
[…] Biden’s intolerably unfair (not to mention unconstitutional) decree that people who didn’t go to college or who paid off […]
[…] Those who went into hock to pay for this course get the added benefit of Biden’s student loan “forgiveness.” […]
[…] receive massive infusions of money from Big Government. In addition, de facto dictator Biden unilaterally declared that we have to pick up much of the student loan tab of 20-something adolescents pursuing degrees […]