Apparently, Joe Biden got tired of kicking the can down the road. He has been extending the moratorium on student loans, but today he took the next step. He is again placating the upper class by redistributing wealth from everyday hard-working Americans to pay for a portion of the student loan balance for all who currently have an outstanding balance.
Biden took to the podium this afternoon and gave another of his rambling, walk-down-memory-lane orations to make the audience think he is one of them, good old Joe from Scranton. They are old, boring, phony, and out of touch, just like his decisions. Today’s announcement is very transparent. Biden had lost the 18-35-year-old voting block. Once one of his strengths, this group tired of his performance, and his approval ratings with them had tanked. He is hoping to buy them back, and what better way than with our dime?
He plans to suspend payments one final time until December 31. He is canceling up to $10,000 for anyone making less than $125,000 and $20,000 if a Pell Grant. Canceling is a misnomer, like the Inflation Reduction Act. For they don’t really get canceled, the burden for the loan shifts to the taxpayer. This is another way that Biden is hurting all Americans. Biden’s plan is not only unfair for many reasons but may also prove to be unconstitutional.
In addition to his long-winded speech about his Dad, he also used some key phrases that ensure you know he is lying. Whenever a speaker says, “let me be clear,” they are not being honest. Whenever a speaker says that something is a Game-changer, someone is getting screwed. He used both terms many times today, which is not a good sign for the Big Guy.
One thing I need to note about the timing of this announcement. Joe Biden has been on vacation for weeks in a combo of time-off and COVID. During that time, he flew to Washington to sign the Inflation Reduction Act and returned to make today’s announcement on student loan forgiveness. And he was in Delaware the day of the Mar-A-Lago raid. All of these have overshadowed the anniversary of the Afghanistan Surrender and the death of 13 brave Americans at the hands of the Taliban. Convenience or just lucky timing, but unmistakable.
The bill announced today is unfair for many reasons. One, it only pertains to those with a student loan balance. Take out a loan tomorrow, and you are on your own. If you paid off your loan, good for you, but you get nothing from this bill. And, if you never had a student loan or never went to college, you now have student loan debt. Thank you very much.
This bill may never pay anyone a dime as it will surely be challenged in court. Any resolution will come after the midterms, and it will already have the desired effect, securing the 18-35 votes. Only Congress has the authority to spend money, but that won’t stop Joe. He and his family are used to selling their name or buying votes. The shame is that he never uses his money but ours.