On Thursday, The U.K. Daily Mail posted an article about President Biden’s new plan to forgive student loan debt.
This is the headline from the article:
American workers – are YOU happy to pay $1,800 EACH to wipe the student debt of the privileged elite who’ll earn $52,000 a year? Because BRAD POLUMBO reveals that’s your bill for desperate Joe’s naked bribe for votes
The article reports:
‘Congratulations! I erased your student loans. Now will you vote for me?’
That’s what President Biden should have said in an email to more than 800,000 student loan borrowers – because his latest scheme to ‘forgive’ some of their $1.78 trillion in outstanding debts is nothing more than a bribe.
‘Your student loan has been forgiven because of actions my Administration took to make sure you receive the relief you earned and deserve,’ read the White House message sent to in-boxes on Tuesday.
Gee – Democrats are so generous with other people’s money.
What had these lucky few done to ‘earn’ and ‘deserve’ this multi-billion dollar ‘relief?’
In a bit of bureaucratic sleight of hand, Biden and his dutiful ministerial assistants transformed an obscure Education Department repayment program into a brand new entitlement program.
The monthly payments of hundreds of thousands of borrowers will be capped at five percent of discretionary income, and if they pay these tiny installments for 10 to 20 years their entire remaining loan will be wiped away.
This move is aimed at college students and graduates ages 18-34. This is a demographic that is not generally supporting President Biden.
However, according to the Census Bureau, only 35 percent of people between the ages of 18 and 29 vote, and 48 percent of people between the ages of 30 and 44 vote. Almost 60 percent of people between the ages of 45 and 64 vote, and 66 percent of people over 65 vote. It is quite possible that those over the ages of 45 learned critical thinking in school–something that is rarely taught now. If the people over 45 realize that they are paying for this student loan forgiveness program, it is very possible that they will turn out to cancel the votes of the younger people benefitting from the program. It is also possible that those in the age group that will benefit will include enough people who didn’t go to college that are angry about paying for someone else’s education that they could not afford for themselves.
At any rate, please follow the link to read the entire article. It will be interesting to see if this actually works or backfires. Meanwhile, we should mention that it is entirely unconstitutional.