By Joe Biden has become so desperate to be reelected that the White House has not only announced it is breaking the law, but has gone out of the way to brag about doing so. The president recently announced that despite being blocked by the Supreme Court, his administration will be trying to use taxpayer money to buy votes, “forgiving” student loans for over 100,000 students.
In a cynical move, those receiving the money from the government will receive a personal note from the president letting them know how lawless he is.
Welcome to Joe Biden’s banana republic, where the ones constantly saying that democracy is under attack certainly seem to hold our democratic institutions in low regard.
turns out there’s an entire political movement that is 100% above the law and they regularly brag about it https://t.co/QtmTNJQKHd
— Logan Hall (@loganclarkhall) February 22, 2024
NBC News reported the details of Biden’s latest move.
A borrower can qualify for the forgiveness if they’re enrolled in the administration’s Saving on a Valuable Education (SAVE) repayment plan and “have been making at least 10 years of payments, and have originally taken out $12,000 or less for college,” a White House fact sheet said. It also said that “for every $1,000 borrowed above $12,000, a borrower can receive forgiveness after an additional year of payments.”
A borrower can qualify for the forgiveness if they’re enrolled in the administration’s Saving on a Valuable Education (SAVE) repayment plan and “have been making at least 10 years of payments, and have originally taken out $12,000 or less for college,” a White House fact sheet said. It also said that “for every $1,000 borrowed above $12,000, a borrower can receive forgiveness after an additional year of payments.”
As an example, the fact sheet said, “a borrower enrolled in SAVE who took out $14,000 or less in federal loans to earn an associate’s degree in biotechnology would receive full debt relief starting this week if they have been in repayment for 12 years.”
“I’ve heard from countless people who have told me that relieving the burden of their student loan debt will allow them to support themselves and their families, buy their first home, start a small business, and move forward with life plans they’ve put on hold,” the email says.
Democrats do not actually believe that the president has the power to forgive student loans. In 2021, for example, Nancy Pelosi said that the White House had no such authority.
“People think that the president of the United States has the power for [student loan] debt forgiveness. He does not.”
— Nancy Pelosi (July 2021)pic.twitter.com/0iz8uQeKXG
— RNC Research (@RNCResearch) February 21, 2024
While student loan forgiveness often gets pitched as helping those in need, in reality, the policy is merely a handout to wealthy liberal urbanites who spent way too much on college but reliably vote Democratic. After all, most universities have need-based aid and scholarship programs. Those who typically take out large loans are from upper-middle-class and well-to-do families.
Analysis from the Committee for a Responsible Budget (CFRB) revealed “that America’s highest earners will reap nearly two thirds of the giveaway. That means for 87 percent of American adults without student loans, President Biden is sticking them with a nearly $600 billion tab.”
The editors at The National Review laid into Biden, showing how unconstitutional his actions are and how they undermine the democracy he claims to so desperately support.
“Last year, the Supreme Court held that Biden’s effort to ‘cancel’ up to $20,000 for every borrower in the United States was illegal — a fact that Biden knew all too well. Astonishingly, he responded to this rebuke with rank defiance, vowing that he would “stop at nothing to find other ways’ to achieve the same aim. And so he has. Biden delivered the news to the affected students in an email that contains five uses of the word “my” and five uses of the word ‘I,’ and is signed “Joe Biden,” but at no point refers to ‘Congress’ or the “legislature.” This, suffice it to say, is not how the United States government is supposed to work — especially when it is transferring nearly half a trillion dollars from one group of citizens to another. At best, Biden has found a way to achieve piecemeal what he was prohibited from achieving in one fell swoop. At worst, Biden is thumbing his nose at his oath to uphold the Constitution. Either way, it is a disgrace — and all the more so coming from a president who promised to restore American norms.
As policy, the move is absurd. The notion that college graduates needed massive subsidization was ridiculous enough during the worst days of Covid-19, but now? After the pandemic has passed? The idea is insulting. “Don’t tell me what you value,” President Biden likes to say. ‘Show me your budget, and I’ll tell you what you value.’ Well, two can play that game. At the time of writing, the national debt stood at $34,270,642,133,307.
By current projections, the 2024 federal budget deficit will be $1.5 trillion. That, against this disastrous backdrop, President Biden believes that his fiscal priority ought to be shoveling money to people with the privilege of a college education is incredible. Per the Pew Research Center, there exists ‘a growing earnings gap between young college graduates and their counterparts without degrees,’ and that gap only ‘widened as a result of the coronavirus pandemic. College graduates have better employment prospects, better health outcomes, and lower divorce rates than everyone else. Despite this, the federal government chose to spend around a quarter of a trillion dollars during the pandemic on an unnecessary pause in student-loan repayments. Now it wants to double that number with an amnesty?
Quite why Biden is so obsessed with this course of action is never fully explained. In his letter, he says that he wants ‘to fix student loan programs,’ but, of course, he has done no such thing. He has made no effort to reduce the cost of college, he has proposed no changes to the way higher education works, and he has done nothing that affects the funding mechanisms for anyone outside of the current tranche of debtors. Elsewhere, he insists that debts represent “a barrier to opportunity.’ But he does not extend that logic anywhere else. Business loans make life more difficult for their holders, as do mortgages and car payments. That, in spite of this, he has exhibited a monomaniacal focus on college students — and in particular on graduate students, who hold 56 percent of all student debt — suggests that the only ‘opportunity’ in which Biden is interested is the opportunity to shore up his political base in an election year. One way or another, he must pay a price for it. We already have.”
The editors better be careful, though. In another shocking attack on our norms, Senator Claire McCaskill claimed that American news outlets should stop fact checking Joe Biden.
Claire McCaskill: "It Is Ridiculous That The New York Times Fact-Checked President Biden," While Trump Vomits Lies
Watch — https://t.co/zxPNfxDCwq
"I move that every newspaper in America quits doing any fact-checks on Joe Biden." pic.twitter.com/mqsSB7igYO
— RCP Video (@rcpvideo) February 22, 2024
After all, our democracy is at stake.
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