Staff Reports
In a classic case of “never let a crisis go to waste,” President Joe Biden seized the opportunity created by House Republicans’ leadership chaos to make a bold political move for the 2024 election. Biden announced that he is canceling the student debt of 125,000 lucky individuals, a whopping total of $9 billion. This comes after his previous attempt at student loan forgiveness was struck down by the Supreme Court, but why let a pesky thing like the Constitution stop him?
Under Biden’s new plan, more than $5 billion of the forgiven debt will go to those who have worked in public service for a decade or more, while $2.8 billion will go to borrowers enrolled in income-driven repayment plans. Another $1.2 billion will be handed out to borrowers with disabilities. Don’t worry, folks, the responsible borrowers who diligently made their payments won’t see a cent of this generosity. It’s just another example of rewarding irresponsibility and punishing hard work.
JUST IN – Biden is canceling an additional $9 billion in student-loan debt after the Supreme Court blocked his debt-relief plan — Bloomberg
— Disclose.tv (@disclosetv) October 4, 2023
But hey, according to “experts,” this move might just help Biden in his reelection bid. After all, he can now boast that he has forgiven more student loan debt than any other president. Who needs fiscal responsibility when you can win votes with empty promises and handouts? And let’s not forget the timing here. Just as millions of Americans were preparing to resume their student loan payments, Biden swoops in to save the day, or at least try to. It’s a calculated move to secure his core Democratic voting bloc, who tend to be young and idealistic. But why stop there, Mr. President? Why not cancel all student debt and let future generations learn the hard way that actions, even if well-intentioned, have consequences?
And let’s not forget the overarching issue here. The bill for these handouts doesn’t just disappear into thin air. No, it gets passed on to hardworking taxpayers like you and me. So thanks, Mr. President, for sticking us with yet another expensive bill. Perhaps next time, you might want to consider the long-term economic implications before throwing around billions of dollars like it’s Monopoly money. But hey, at least you’ll have the support of those who benefit from your generosity, and that’s what really matters, right? #DebtForEveryone2024
