Joe Biden and the Democrats just gave real Americans the middle finger. In an attempt to buy votes in the upcoming elections, Biden’s handlers had him cancel $10k to $20k in student loan debt for those who have federal government loans.
Additionally, Biden has extended the “COVID emergency payment moratorium” through the end of the year. No one with a federal student loan needs to restart paying until after the midterm election, in 2023.
The Democrats have decided that they have some kind of unilateral authority to force working class Americans to fund the choices of others. Real Americans who believe in hard work, saving money for future needs and keeping your word are now being made to bail out people who took out loans. They are laughing at real Americans.
The father in this video clip confronts Elizabeth Warren over the idea that people who took out college loans should not have to repay those loans as they had agreed to when they took them out. His cold anger is palpable.
So, people who didn’t go to college, like tradesmen, and now make a good living without having any student debt will be paying for the people who got a college education and still can’t find a job with their Women’s Studies majors. That’s fair, right?
If someone took out a loan to start a business, is that loan going to be cancelled?
Sundance notes:
There is a great chasm within our nation between to diametrically opposing worldviews. When one side is forced to pay for the indulgent choices of the other, cold anger turns hot. It is difficult to contain rage in the face of such sanctimony, yet the abusers are prepared to claim victimhood as soon as we respond to the abuse.
This is the powder-keg that sits underneath the quiet surface of cold anger.
Cold Anger tries not to go to violence. For those who carry it, no conversation is needed when we meet. You cannot poll or measure it; specifically, because most who carry it avoid discussion.
Sociopaths have no conscience or soul. They will say or do anything for their personal benefit. There are many more like Elizabeth Warren who would do anything to remain in power. And they sit on both sides of the aisle.
This will never happen but…. In income tax land, sometimes a forgiven debt is considered taxable income. It would be ironic if they had to pay taxes on this loan forgiveness. However, I am sure that the Democrats thought of that and eliminated that possibility before this.
The way to solve the student loan problem going forward is quite simple. No loans from the government. No loans backed by the government. Let the colleges and universities make the loans from their endowment funds. Let the loans be dismissible in bankruptcy proceedings. Then there would be some judgement of the risk each potential loan presented.
And BTW the Department of Education General Counsel has already stated that the executive branch does not have the statutory authority to provide mass loan cancellation.
https://static.politico.com/d6/ce/3edf6a3946afa98eb13c210afd7d/ogcmemohealoans.pdf
Of course, whether such actions are legal or not, does not matter to the Democrats. Winning elections by any means necessary are all that matters.