Biden Found Another Way To Add To Inflation…

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(TheConservativeNews.org) – President Joe Biden on Wednesday announced he would soon deliver on his campaign promise to provide $10,000 in taxpayer-funded student debt cancellation for many Americans.

Borrowers who earn less than $125,000 a year, or families earning less than $250,000, would be eligible for the $10,000 loan forgiveness, according to three people familiar with the decision.

For recipients of Pell Grants, which are reserved for undergraduates with the most significant financial need, the federal government would cancel up to an additional $10,000 in federal loan debt, according to a copy of administration talking points obtained by The Associated Press.

The president shared the outline of his plan in a tweet late Wednesday morning, promising details would come later in the day.

During the 2020 presidential campaign, Biden was initially skeptical of student loan debt cancellation as he faced off against more extreme left-wing candidates for the Democratic nomination. Sens. Elizabeth Warren of Massachusetts and Bernie Sanders of Vermont had proposed cancellations of $50,000 or more.

As he tried to shore up support among younger voters and prepare for a general election battle against President Donald Trump, Biden unveiled his initial proposal for debt cancellation of $10,000 per borrower, with no mention of an income cap.

Sen. Elizabeth Warren (D-MA) was asked by a father if he was going to get the money back that he spent to pay off his daughter’s student loans by working double shifts. Warren made it clear that she didn’t give a darn about that father’s question or about how unfair and wrong forgiving student debt was for the people who didn’t work or save like the father did to pay off those loans.

Now, the Secretary of Education, Miguel Cardona, has officially confirmed that hot take is the official Biden’s Administration’s position to Fox’s Peter Doocy.

So if you worked hard and paid off your loans, you’re just out of luck with the Biden Administration. They don’t care if the move is unfair or is going to shaft you guys. Not only aren’t you going to get anything, but you’re going to have to pay for the other people out of your taxes and/or the higher inflation that’s going to hit because the government could spend $300 billion in this effort.

Doocy tried to get answers from White House Press Secretary Karine Jean Pierre as to “who is paying” for all this largesse to college-educated people.

Biden isn’t “canceling” or “forgiving” any student loans. Those are preposterous euphemisms favored by Democrats and the media. The debt in question already exists, it has been lent and spent, and those who borrowed the money of their own volition have already received services. This debt isn’t cancelable.

The president hasn’t “forgiven” loans, he’s unilaterally broken existing contracts and transferred the responsibility of payment to taxpayers—many of whom have either repaid their own student loans or never borrowed any money to begin with. Now, if you’re opposed to repaying some stranger’s loan, that’s too bad. A new batch of IRS agents will be there to ensure that you do.

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