Student Loan Forgiveness is about Buying Votes
Biden is buying votes, and using your tax money to do it. You don’t think the timing of this is an accident, do you?
I know many of you have heard the saying from Thomas Jefferson (and apparently many before him):
“Democracy will cease to exist when people realize they can vote themselves more money”- Thomas Jefferson
Biden announced officially that he would be giving up to $10,000 in federal student loan debt for borrowers making less than $125,000 annually and $20,000 for Pell Grant recipients.
43 million federal student loan borrowers will benefit, and 20 million borrowers will have their debt completely canceled.
That is a heck of a lot of voters who will be receiving a cash bonus right before an election.
The money was borrowed legitimately by people wanting to get an education. They bought something of value, took out a loan, and are paying it back. And a great many people who have had student loans have worked their butts off and paid them back.
But now they will just be forgiven. Free money. Obligation forgiven. Thanks, Joe we will vote for you now.
There are a lot of arguments against this. It is unfair to people who have already paid for their own education, especially those who worked their butts off to go through college debt free. One can say that perhaps the students were too young to know what they were doing. Too stupid maybe, but we recognize 18 years old as adult, they are free to take on responsibility. One can also argue that it is not fair to place the debt burden on blue collar workers who never had the benefit of college to pay for the college education of others.
It doesn’t matter. This is not about fairness, it is about winning an election.
This is the fault of liberals over past generations who, for some reason, have never understood the economics of subsidies. They believed that by subsidizing educational loans you would get more educated people.
But this has backfired.
Perhaps a few more people were educated, especially in the beginning. But the liberals never realized exactly what they were subsidizing.
As Ronald Reagan said, whatever you subsidize you get more of. But the unintended consequence is that they were actually subsidizing higher tuition rates in Universities. The Universities were pleased to continue raising their tuition because they knew the students could get loans to cover it, whatever the cost, guaranteed by Uncle Sam.
Those of us who attended a university “back in the day” could actually pay for the tuition by working, and perhaps with some assistance from our parents to get things done faster. Now a university education is unaffordable without loans. This is what happens when the U.S. government gets into the subsidy business instead of letting the markets work.
And now it will get worse. Biden has just justified all of the grotesque logic that brought us to this point, the massive loans, the university gouging on tuition, all of it. We are teaching our young people that is it OK to take irresponsible loans and not pay them back, we are damaging our economy with new inflation stimuli, we are creating new debt for everyone to relieve the debt of a few. From every perspective except the political one, this is wrong.
But again, this is not about fairness or intelligent decisions. This is about winning an election.
And with Biden the people have voted themselves more free money.
The dumbocraps need to buy votes somewhere, so why not start here,unfortunately that won’t save the liberal,radical,socialist,marxist,commies from the red wave that will leave them crying the blues and greens. If they can’t lie,steal,cheat,threaten,frame,destroy, it wouldn’t be the socialist,dumbocrap party of no return.
we can only hope…that everyone that feels this way VOTES!!
Hope you are right.
And yet, you can barely catch anyone cheating except Republicans. The Big Lie is just a money making scheme. Desantis just spent $2.4m to catch maybe 20 out of 20 million votes. It’s a landslide
Kansas is the heartland. Kansas has spoken.
Oh yeah Joe G, you nailed this one. But you forgot he did it via EO, fuck Congressional control of the purse. It’s terrible, it’s true, and even one disgruntled “I didn’t get enough for my phd bills” will vote Democratic cuz your side got nothing except for the rich. All I can say is;
Nicely played Madam!
Completely legal, so suck it. Isn’t that your mantra?
Stfu dickhead.
That is true, you have made a good point. The power of the purse is suppose to be with Congress. $300 Billion is a lot to spend without Congressional approval. Certainly not what the Constitution intended.
I thought it was more like 500 billion, but doesn’t matter, we are big numbers.
Because it was a EO it must be allowed within current law, which means the money must exist in some existing budget somewhere. I think that’s correct but I have not been able to find what exact bucket the slush fund came from.
Sleepy Joe my ass, he caught you all sleeping with this one 🙂
I complained about such programs for blacks once to my mother who called me her little republican which gives you an idea of how progressive she was. She said “you got yours the day you were born, don’t begrudge others good tidings and a helping hand.”
Fact is, we may bitch and moan about this, but no matter where the government spends the money, there will always be winners and losers..
Turnip’s tax cut favored the rich, gave pennies to the middle class, and screwed folks in high property tax states like California, New York, New Jersey. It was as if someone painted a target on our ass.. Probably Paul Ryan Further, Trump canceled out all business deductions for work at home, I was getting a pretty penny for that. So, yeah, screwed me twice and I still was not smiling. Tell me that wasn’t shopping for votes.
Or the best was when Trump tried to help his 2020 chances by offering a covid stimulus in the October time frame only to fuck it up and not be able to implement until December. That was about as bold a vote buying action as I have ever seen and covered the hell of a lot more budget than this plan.
It happens. But you got admit, Biden’s play was pretty slick. Almost as slick as Obama’s dragging his feet and talking about movies in order to delay the Benghazi investigation until after the election. That had to be one of the best given his approval ratings and the economy of the time. How could we win that one?.
It is up to 1 trillion.
Oh yes, creating hundreds of thousands of jobs for Americans is buying votes, supporting the Ukrainians is buying votes, appropriating funds for limiting the effects of climate change is buying boted allotting funds for education is buying votes, providing funds for pollution abatement technology limiting dangerous particles that cause different illnesses is buying votes. Enacting bills that help make life safer and enhanced life in america. C’mon man, get real, doing all this is good government and is not buying votes but doing what is right for all of us.
Oh yes, creating hundreds of thousands of jobs for Americans is buying votes, supporting the Ukrainians is buying votes, appropriating funds for limiting the effects of climate change is buying boted allotting funds for education is buying votes, providing funds for pollution abatement technology limiting dangerous particles that cause different illnesses is buying votes. Enacting bills that help make life safer and enhanced life in america. C’mon man, get real, doing all this is good government and is not buying votes but doing what is right for all of us.
This is not a duplicate!!
Thanks Joe for teaching my son to be completely irresponsible regardless of what his mom and I tried to teach him. I suppose next Joe will be paying off everyone’s home loan.
Of course, no one has thought about, but loan forgiveness IS taxable income!