Biden arrives back at the White House and prepares to DROP student loan forgiveness from next week's budget: President BREAKS campaign promise to cancel $10,000 debt for 42 million Americans

UK Daily Mail ^ | May 24 2021 | BEVAN HURLEY and NIKKI SCHWAB

[knighthawk]

Joe Biden will not include student loan forgiveness in his upcoming Budget, after pledging to cancel $10,000 from loans on the campaign trail.

Biden, who was seen arriving back at the White House on Sunday from a weekend at Camp David, is due to announce his latest budget at the end of next week, and claims he has grown suspicious of wiping out the loans.

The shift in policy is a major blow for the more than 42 million Americans who have student loans.

[PTBAA]

Biden to Millenials and Gen Z: “ Thanks for the vote suckas!”

[ClearCase_guy]

Politically, this is in the category of The Gift That Keeps On Giving.

If a Democrat forgives all student debt, in a year or two people will forget, shrug and say “But what have you done for me lately?”

But if the debt is never forgiven, then a Democrat can perpetually make the promise — “Vote for me! Vote for me and you know what I’ll do? I’ll forgive your student debt!”

Man, the suckers will always eat that stuff up.

[owainG31]

Biden promised to do this and then was informed by the IRS that they would condsier such “forgiveness” as taxable income. Suddenly all the slackers who have been defaulting on their loans would be beholden to the US Government, subject to all sorts of collection actions a third party would never undertake. $200,000 pwed to the Dorkus Student Loan Corporation would become $90,000 owed to the IRS.

[Liz]

........besides that.......the Biden Crime Family found they could not scam mega-bucks for themselves by forgiving student loans......

[IAGeezer912]

I know a damn fool who voted for Biden because of this promise. Ha!

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Yeah, my ex son-in-law thought his entire $100k student loan was going to be forgiven. LMAO. He got a worthless degree in Psychology and is still driving a forklift. No jobs available with that degree. The profs lied to him.

[SMARTY]

I guess that would pi&# off the few legitimate votes Joe actually got! Ha!

[ridesthemiles]

Accounting wise-—that taxing of the forgiven loan would be correct.

[Liz]

For public consumption, Biden is now saying he didnt want to forgive the loans of “people who were paying $70,000 a year to attend U of Penn.”

That’s malarkey........he found out the IRS considered forgiveness a “taxable gift.”

Those who owed say $200,000 would now owe the IRS $90,000.....and the IRS would not sit around and wait for payment....they’d want it now.

I guess Biden had visions of angry lynch mobs coming after him...... if he sicced the IRS on ‘em.

[AFret.]

42 million Americans have been blown.

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At least Heels Up keeps her promises.

[Vaduz]

The suckers who voted for him didn’t read the public service memo NEVER TRUST A DEMOCRAT.

[proud American in Canada]

LOL! Post of the day!

[COBOL2Java]

Maybe they should have reduced expenses by going to a community college first, a cheaper college, lived at home, etc., like the taxpayers did whom you now want to pay your debt.

Or like my daughter, who enlisted in the Army, served 6 years, then used her GI Bill to pay for - first, Community College (AA Paramedicine), then BSN with grants and scholarships. All while working full time as an EMT. Now she's certified in both Emergency Medicine and CNOR.

[COBOL2Java]

Oops, that was an AAS in Paramedicine.

I’m the one with an AA, LOL

[KittyKares]

Great idea! And she studied something useful for herself and for society rather than something like gender studies.

[I Drive Too Fast]

Thank You.