Posted on 08/25/2022 1:04:42 PM PDT by Starman417
It's no mistake that Biden is coming out with his student loan cancelation plan at this time- just before midterms. It's a baldly obvious effort to cement the whiny socialist mooch vote that he already had but it comes at a great cost to everyone who either paid for their own educations or didn't go to college.
President Biden caused an uproar Wednesday by announcing that his administration will forgive billions of dollars in federal student loan debt, potentially wiping the financial slate clean for 20 million Americans — despite Republicans and experts warning the bailout would worsen America’s tenuous economic situation.So how much will this really cost? Let's ask Susan RiceIn unveiling the plan to write off up to $20,000 in student loan debt incurred by borrowers who have received federal Pell Grants for their education and make below a certain income, along with up to $10,000 in debt for non-Pell Grant recipients, the president insisted that “an entire generation is now saddled with unsustainable debt.”
Q: "How much will this cost? How much will Americans have to pay?" Top Biden advisor Susan Rice: "Well, that remains to be determined." pic.twitter.com/7T6ic9EFOh
— RNC Research (@RNCResearch) August 24, 2022
Let's ask KJP
Another word salad from KJP. The Biden White House has absolutely no idea who will pay for Biden’s $300 billion student debt bailout. pic.twitter.com/e1m10VSWhZ
— Rep Andy Biggs (@RepAndyBiggsAZ) August 25, 2022
Let's ask Miguel Cardona
"How much does this cost?" Education Secretary Cardona: "The projections are still coming out”
"What's the range?"
Cardona: “Those projections are still coming out”
"How will this be paid for?"
Cardona: Biden "has been very clear about reducing the deficit” pic.twitter.com/R4JAIATzcQ
— RNC Research (@RNCResearch) August 25, 2022
Liberals spent this morning struggling to find a moral equivalence between student loan bailouts and COVID/PPP and natural disasters. The latter two were not choices. Fauci killed the economy with an unnecessary shutdown of the country during COVID. No one chooses to be hit with a hurricane. Student loans all come by choice as part of the secondary education scam. Now plumbers and electricians and those who did pay their debts will bail out the art history, philosophy and gender studies majors. Sen. Fauxcahontas, may I ask you a question?
"I've saved all my money. [My daughter] doesn't have any student loans. Am I going to get my money back?"@eWarren: "Of course not." "So you're going to pay for people who didn't save any money and those of us who did the right thing get screwed." pic.twitter.com/eqK7o4Cl9Q
— Washington Examiner (@dcexaminer) January 23, 2020
A lot of people have a problem with that
New Yorker: "I paid for my student loan, and everyone else should pay for theirs, too." pic.twitter.com/cgx3XVSTEi
— RNC Research (@RNCResearch) August 25, 2022
Even the Washington Post was alarmed
Eric Swalwell threatened to "torch" MTG over her PPP loan
Dear GOP colleagues, before you offer your hot takes on student debt relief, please make sure you or your colleagues didn’t have one of your government loans forgiven. Otherwise, I will absolutely scorch you. Yes, I’m looking at you @RepMTG.
— Rep. Eric Swalwell (@RepSwalwell) August 25, 2022
Sounds like he's threatening to bare his Fang Fangs
Biden hasn't had much to say recently. There's a reason for that. Here he says that black and Hispanic people don't own homes
BIDEN: "Black and Hispanic borrowers...they don't own their homes to borrow against to be able to pay for college." pic.twitter.com/81HVi8CPMq
— Townhall.com (@townhallcom) August 24, 2022
The worst part is that these are bailouts of money that went to paying Marxists
It appears that we may finally to be coming out of the campaign on the left to “pack the court” with a liberal majority. That is good news. The problem is that many on the left have turned their ire on the Constitution itself as the root of all evil in our country. In a New York Times essay, law professors Ryan D. Doerfler of Harvard and Samuel Moyn of Yale are calling for the Constitution to be “radically altered” to “reclaim America from Constitutionalism.” In order to accomplish this dubious objective, they call for shifting from the “Pack the Court” to “Pack the States.” The attack on “constitutionalism” is chilling but these professors are not the first to lash out at our Constitution as the scourge of social justice.An Obama economic adviser has called this "reckless"The New York Times column called for citizens to view the Constitution as the real enemy and to push to “radically alter the basic rules of the game.” The attack on our Constitution has become something of an article of faith for the far left in recent years.
“Pouring roughly half trillion dollars of gasoline on the inflationary fire that is already burning is reckless. Doing it while going well beyond one campaign promise ($10K of student loan relief) and breaking another (all proposals paid for) is even worse,” said Furman, “The White House fact sheet has sympathetic examples about a construction worker making $38K and a married nurse making $77,000 a year. But then why design a policy that would provide up to $40,000 to a married couple making $249,000? Why include law and business school students?”The effect on tuitions? Well, when Biden announced a $7500 tax credit for EV's, Ford raised the price of its electric pickup by $8500. That's what will happen with tuitions. Biden is paying them back for their generous contributions. All with your money.
What will this all really cost? Anywhere from $300-980 billion over 10 years. Given all small print carve outs it is likely to go over a trillion dollars.
That comes to at least $4-6,000 per taxpayer. What about the effect on the deficit? No problem, says KJP
KARINE JEAN-PIERRE: "We don't believe that [Biden's student loan debt bailout] is going to increase the deficit."
FACT: It will increase the deficit by more than $350 BILLION, according to the Tax Foundation. pic.twitter.com/Jh0aFTvfRg
— RNC Research (@RNCResearch) August 25, 2022
Yeah. And if you get vaccinated you won't get COVID.
When asked if this was fair to those who paid their debts, Biden just walked away.
(Excerpt) Read more at floppingaces.net...
“vote buying spree”
That is indeed what it is.
No.
Get a job.
You expect to make a living for this junk?
F these people. Cant take anymore of this destruction.
Isn’t this illegal? Spending originates in the House and all that.
It also sure additional issues such as legal authority and establishing precedent for expanding slippery slope Presidential actions in the future.
Definitely
The cost is actually $1 trillion, if you include
<><>the loss from no interest on these loans since 2020
<><>reduced interest and payments
<><>and write offs after 10 years of income -based payments instead of 20
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