Is Biden even able to bail out student loans?
As almost everyone has heard, Biden announced his plan to spend $360 billion to forgive student loans for up to 43 million Americans. Groups estimate that the actual cost may be $440 to $600 billion, but who's counting?
Legal experts have reported that although Biden may have some authority to postpone payments, he clearly doesn't have the power to cancel debts. This is the province of the Congress, as explained by Nancy Pelosi in 2021. This announcement comes in a long line of other unconstitutional executive orders from Sleepy Joe that are challenged in court, and, after a period of legal drama, are overturned.
The reaction from many different sides to his plan has been overwhelmingly negative. People who have already paid off their student loans are angry because they did the right thing and kept to their obligations, and people who didn't get loans, or didn't go to college at all, are even angrier at the idea of paying more taxes to fund doctors, lawyers, and academics who should be able to pay what they owe. The inflationary aspects of the debt forgiveness mean that the $7,000 Americans are paying extra each year for Biden's high prices will continue to increase, with no end in sight — and this includes the people getting the cash in the first place. Pay me now, or pay me later...
So what's going on here? Why would Biden make a big deal about something that won't pass legal muster? And why didn't he just forgive all student debt and be done with it?
It's pretty clear that this loan forgiveness will be at least a short-term boon to a lot of current and potential 2022 Biden/Democrat voters — academics, recent college graduates, lawyers, doctors, etc. Some may be wavering or undecided, and getting ten grand or more knocked off their debts would be well received. Since many have more than $10,000 in debt, Biden can hold out the idea that more may be forgiven in the future. "So vote Democrat in 2022 and get more cash next year!" can be his new bumper sticker.
When someone as corrupt as Biden knows that he can be bought, he assumes that everyone else has a price, too.
Just ask your friends, "Does it seem fair that we're being asked to pay for someone else's college debt when we paid for ours or couldn't afford to go to college ourselves?"
This stunt is just another in a long line of pickpocket's distractions — "look here while I steal your wallet."
Each week leading to the November election, there will probably be another outrageous Trump-leaked accusation or new government boondoggle designed to turn voters' attention away from how miserable life has become in this country because of the Biden administration.
We must all vote in November as if our lives depend on it. Bring ten friends with you! If the Democrats win, these changes will become permanent, and there will be no going back.
Image: Gage Skidmore via Flickr, CC BY-SA 2.0.