Canceling debt is one thing, but printing off more money or taxing others to patch a debt?
Like many others, President Trump believes that this $300,000,000,000 policy will simply lead to more inflation.
Other economists and pundits have echoed similar sentiments, arguing that this was the absolute worst time to enact a student loan forgiveness program.
Personally, my feelings are mixed, as I have written before. I don’t want the government giving handouts, but at the same time, I recognize that the entire higher education system, and the lending that surrounds it is predatory.
Perhaps there was a time when this system and the people within it were noble, after all, the generations that grew up in the mid-20th century did benefit greatly from higher education…
This was before the government started highly subsidizing college degrees, which by some estimates has led to a 4,000% increase in college tuition since the 1980s.
Today those benefits are largely gone, and what remains is a cabal of deranged leftists charging prices that the oil barons of the early 20th century would have considered unethical.
This in and of itself would not be the end of the world, but consider that this cabal of leftists is propped up by an ocean of unwitting or willfully ignorant parents, teachers, coaches, and confidants—the people supposed to be teaching kids about prudent financial choices.
Student loan forgiveness or no student loan forgiveness—the culture has to change in a major way.
Here’s what President Trump and other critics of Biden’s student loan policies are saying:
Biden: "The cost of education beyond high school has gone up significantly … Many states have cut back support for their state universities, leaving students to pick up more of the tab." pic.twitter.com/JNx7T8A6EH
— The Post Millennial (@TPostMillennial) August 24, 2022
The Post Millennial highlights Biden’s new policy:
Biden formally announced the cancellation of $10,000 to $20,000 of student loan debt per borrower on Wednesday, saying that he was providing “more breathing room for people so they are less burdened by student debt.”
Biden claimed that around 90 percent of those that would qualify for the relief make under $75,000 per year.
It’s unfair to force a truck driver to pay a loan for someone who got a PhD in gender studies.
Taxpayers shouldn’t be footing the bill for student loan relief and Biden’s order isn’t constitutional.
If anything, universities handing out worthless degrees should be on the hook. pic.twitter.com/wZuH6GxPII
— Ron DeSantis (@GovRonDeSantis) August 25, 2022
BREAKING NOW: Democrats' civil war over student loans explodes – Biden is blasted as 'OUT OF TOUCH' and told he is punishing 'those without a degree' by his OWN PARTY – New projection says it will cost Americans $500 BILLION…
— Chuck Callesto (@ChuckCallesto) August 25, 2022
In a related story, Just The News reports:
Facebook has reportedly blocked a post from the House Judiciary Republicans opposing student loan debt cancellation for violating its community guidelines.