Student debt cancellation is not a fight “for the little guy,” the way the Biden-Harris administration claims. Instead, high earners with advanced degrees reap the benefits while those who never went to college or paid off their loans get stuck with the bill.
Student debt cancellation is not a fight “for the little guy,” the way the Biden-Harris administration claims. Instead, high earners with advanced degrees reap the benefits while those who never went to college or paid off their loans get stuck with the bill. @AngelaLMorabito… pic.twitter.com/QJ7kHQKTFe
— Defense of Freedom Institute (@DFIPolicy) October 28, 2024
- Repeated Debt Cancellation Efforts: The administration has introduced multiple rounds of student loan forgiveness, including a significant $430 billion plan and the “Saving on a Valuable Education” (SAVE) plan, estimated to cost $475 billion over ten years.
- Legal Challenges and Redundancy: Previous forgiveness plans faced legal obstacles, with the Supreme Court blocking the initial $430 billion proposal. New plans are redundant, layering forgiveness upon forgiveness without addressing core educational problems.
- Automatic and Discretionary Forgiveness: The latest proposal includes automatic debt cancellation for loans at risk of default and an application-based option for borrowers demonstrating hardship, aiming to provide relief for “generations to come.”
- Political Motivations: These forgiveness initiatives are politically motivated, designed to gain favor with voters rather than implementing meaningful educational reforms.
- Financial Implications: Concerns are raised about the financial burden on taxpayers, questioning the justification of canceling debts and the potential long-term economic impact.
Remember this? This is how economically retarded Democrats are. Rep. Jim Clyburn needs a basic lesson in economics. Clyburn: “What has happened in the last four years on student debt for instance. Joe Biden has eliminated…over $60 billion for people saddled with student loan debt.” Neil Cavuto “Who’s paying for that Congressman?” Clyburn: “What do you mean who’s paying for it!” Cavuto: “Who’s paying for that debt relief?” Clyburn: “Nobody is paying for that relief! This is interest! This is not the principal. The principal was paid back a long, long time ago.”
Rep. Jim Clyburn needs a basic lesson in economics.
Clyburn: “What has happened in the last four years on student debt for instance. Joe Biden has eliminated…over $60 billion for people saddled with student loan debt.”
Neil Cavuto “Who’s paying for that Congressman?”… pic.twitter.com/Vr1shua0yH
— Ian Miles Cheong (@stillgray) June 7, 2024
Oh, and never forget the Supreme Court keeps ruing that Biden’s efforts are all illegal. But Democrats do not care about the law or the Supreme Court. The Supreme Court just ruled in August on Biden on his plan to unilaterally use tax dollars to cancel student loan debt
Stolen Liberties & Echoes of Freedom. 2nd American Revolution Begins – A short story by CK Sheldon, for Whatfinger News….
