Boy did the Democrats save up a barrage of moves just perfectly timed for election season.
With interest among young voters bottoming out, Joe Biden just got them all re-engaged.
Reports surfaced on Tuesday that Biden would be announcing a $10k student loan forgiveness plan for anyone making under $125,000 per year.
I want to know where I get in line to get my $10k check from the $50k or so I paid back from my college tuition bills.
Make no mistake about it, this is buying voters with our tax dollars.
The money has been sent out, but it will never come back in, and we are not stuck with this humongous tab.
We can add this to the $32 billion in student loan debt that Biden has already canceled.
White House spokesman Abdullah Hasan was giddy, stating, “The President will have more to say on this before August 31.
“As a reminder, no one with a federally-held loan has had to pay a single dime in student loans since President Biden took office, and this Administration has already canceled about $32 billion in debt for more than 1.6 million Americans — more than any Administration in history.”
I wonder if Hasan is among the many White House staffers slated to benefit from this relief.
The only solace is that due to the salary cap, the members of Congress that wanted to benefit from this will not be able to come to the party, so, sorry, AOC, you can still pay that bill.
What I am waiting for, however, is the final price tag on how much this will cost us.
I have seen it estimated in the hundreds of billions to multiple trillions.
According to Penn University Wharton School of Business, the cost ranges from $300 billion to as much as $980 billion for $50,000 in forgiveness.
Complete loan forgiveness sends this total into the stratosphere.
But, hey, that’s okay, Joe will just print more money.
Read this word… r-e-c-e-s-s-i-o-n.
That is what Joe Biden is risking simply to buy Democrats’ mid-term votes.
Remember that this time next year when your homes are being foreclosed and you cannot afford to pay your credit card bills.
We can all take solace in the fact that the millennial generation of the entitled did not have to pay back their student loans, unlike every generation before them.
UPDATE 8.24.2022 5:00 p.m. CDT: Joe Biden has announced as much as $20,000 in student loan forgiveness, dependent upon PELL Grant status.
Source: Daily Caller