Charlotte, NC — On Wednesday, Rep. Alexandria Ocasio-Cortez (D-NY) continued to advocate for student debt forgiveness. She was upset because of recent statements by President Joe Biden that he would only support $10,000 in student debt forgiveness. He argued that he does not believe he has the ability to act on his own, while AOC and other supporters of the move believe he does.
AOC decided to make her argument via social media as usual, with the most ridiculous argument ever. That debt forgiveness already exists for wealthy people, so it should exist for the rest of America, too.
Average student loan debt in the US is ~$30k (LOTS have more)
Many won’t fully feel $10k in forgiveness until after a Biden presidency is over, when they’ve spent 10 years paying off the other $20k+
Dems should be championing policy that people can feel ASAP. We need to go big.
— Alexandria Ocasio-Cortez (@AOC) February 17, 2021
There you have it, the economic wizard of the radical Left has shared her logic. There are so many issues with this, but I think we should take a closer look at two of them specifically.
First of all, those who benefit from the “debt forgiveness” program of the rich are very few. Of the nearly 210 million adults over the age of 18 (college-age and older), there are only approximately 12 million millionaire households. If you want the total household number in the US, that number is almost 123 million. So she is basing her logic on less than 10% of the US population.
Most of those evil millionaires that she refers to made their money through capitalism. They made it by using the free market, operating family businesses, and building wealth. The exact opposite of what AOC and her socialist friends want. She wants to live a lavish lifestyle while telling you that you deserve to be given one by your government.
The second failure in this logic is the idea that people deserve to have this debt wiped away. This is what AOC and her communist squad friends believe. They believe that Americans “deserve” to have their debt wiped away.
He can and must use it. The people deserve nothing less.
— Congresswoman Ayanna Pressley (@RepPressley) February 17, 2021
This is not a matter of deserving to have the debt wiped away. The issue at stake is that someone willingly took a loan to receive an education and they must pay that loan back. You certainly would not expect to drive a new car off a car by walking in and telling the salesperson that you “deserve” it. The logic is flawed and ridiculous.
I am a strong advocate for education. I have no issue that someone wants to receive an education and better themselves through education. There is also a lot of people that have extremely comfortable lifestyles having worked trade jobs without ever setting foot in a college classroom. The decision here is a personal one and each decision comes with consequences of that decision.
If you decide to go to college and take a loan, you also deserve the payment and the debt that comes along with it. You do not deserve to have the federal government and taxpayers across the country to pay for your loan.
JD Washington is the Editor-in-Chief at The Liberty Loft and host of The JD Washington Show. Be sure to subscribe to The Liberty Loft’s daily newsletter. If you enjoy our content, please consider donating to support The Liberty Loft so we can continue to deliver great content.