President Joe Biden announced plans to illegally transfer student loan debt from existing borrowers to the rest of the American public on Wednesday, marking the latest abuse of executive power by America’s commander-in-chief.
“In keeping with my campaign promise, my Administration is announcing a plan to give working and middle class families breathing room as they prepare to resume federal student loan payments in January 2023,” Biden said in a tweet likely posted by a White House staffer.
As described in the graphic accompanying the tweet, the administration plans to “forgive” up to $20,000 for individuals who attended college on Pell Grants and $10,000 for those who did not receive such a grant. While the new loan “forgiveness” plan only applies to individuals making less than $125,000 a year — a cap which means little, considering plenty of college graduates make less than six figures upon graduation but have a wealthy trajectory — the administration also plans to extend the current pause on student loan repayments through December 31, 2022.
Despite Biden and Democrats’ best attempts to spin their new garbage policy initiative as a “forgiving” of student loans, the stark reality is that there is no such thing. When leftists use terms like “canceling” or “forgiving” student debt, what they really mean is taking money from American taxpayers — the majority of whom chose not to attend college — and using it to subsidize the minority of individuals that opted to pursue higher education.
Moreover, not only will Biden’s plan bail out a fragment of the American populace that chose to take on the responsibility of student loans, it will do so for those who are better financially equipped to repay them.
As reported by Federalist Western Correspondent Tristan Justice, a 2020 report by the left-wing Brookings Institution found that “the highest-income 40 percent of households (those with incomes above $74,000) owe almost 60 percent of the outstanding education debt and make almost three-quarters of the payments,” while those with the “lowest-income 40 percent of households hold just under 20 percent of the outstanding debt and make only 10 percent of the payments.”
“Meanwhile, students who took the loans are far better equipped to pay them off than many other American taxpayers,” Justice wrote. “A typical worker with a bachelor’s degree is likely to earn nearly $1 million more over their career lifetime than the same person with just a high school diploma.”
Pain Is the Point
While forcing everyday Americans to subsidize the poor choices of the rich may be a surprising choice to some, the moronic policy championed by Biden and company falls in line with the same hierarchical mindset they’ve displayed over the past two years.
During the Covid pandemic, the federal government and politicians across the country pushed for severe lockdowns, leading to the permanent closure of approximately 200,000 establishments, many of them small businesses, and leaving tens of millions of American workers jobless. Schools throughout the nation also closed, wherein millions of children were left to fall behind in their educational careers.
At the time, simply going outside was deemed a “public health risk.” That is, of course, unless you were a member of Black Lives Matter who took part in burning down American cities during the summer of 2020, in which case your actions didn’t receive a hint of condemnation from the same officials telling the public to triple-mask in order to protect their neighbors.
And if cutting off your ability to provide for your family and letting your property burn without punishing the arsonists wasn’t bad enough, Joe “The Great Unifier-in-Chief” Biden took it upon himself in September 2021 to unconstitutionally force businesses with more than 99 employees to receive an experimental vaccine or risk losing their job. Coupled with his anti-energy policies and insane spending packages that have led to skyrocketing gas prices and record inflation, the No. 1 priority for the Biden administration has been — and continues to be — to inflict as much pain and suffering on the American people as possible.
For the anti-Constitutionalists in the White House and embedded in our federal government, pushing policies that cripple the ability of the American worker to sustain himself is the point. Forcing taxpayers to subsidize well-off college graduates is simply the latest tool in our government’s arsenal to dismantle individualism in America and grow the power of an already out-of-control federal leviathan that seeks to control you and your way of life.
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Source: The Federalist
