Biden’s Student Loan Forgiveness Program: It’s Not Difficult to Understand Why People are Angry | Eastern NC Now

    Publisher's Note: This post appears here courtesy of the John Locke Foundation. The author of this post is Dr. Robert Luebke.

    There are plenty of reasons to get angry about President Biden's Executive Order to transfer about $300 billion in student loan debt to taxpayers. A few of the major themes highlighted in recent commentary include:

    It's inflationary. The cost of the plan ($330 billion) torpedoes the Democrats week-long commitment to Inflation Reduction Plan ($124 billion in savings over 10 years.

    It discourages sacrifice and good behavior. Our entire lives our parents and others have told us to work hard and pay your bills. Biden's plan is a gut punch to every mom or dad who pulled a double shift or socked away extra money so their son or daughter didn't have to take out loans while in school.

    It's a sham. While the plan, purports to help those in need. Most loan dollars in question claim to help those in need. However, most of the dollars go to students enrolled in graduate programs in lucrative fields and who will or could now pay back the large sums necessary to enroll in law school, medical school, or other high-paying fields. Forty seven percent of federal loans go to students in graduate school. Struggling students with no job prospects? Hardly. Mitch Kokai. Highlights this point in Student Loan Forgiveness as Welfare for the Rich

    It's a slap in the face. That's how every young person feels who decided to forego college, enter the trades or an apprenticeship program or start a business. Biden's policy asks those who didn't go to college and those who dutifully paid off their college loans to help pay off the loans of those who made bad career choices or who are now in programs where they can readily afford to repay federal student loans.

    Lastly Americans should hate this policy because President, doesn't possess the authority to make such a decision. Charlie Cooke at National Review said it colorfully and said it best when he wrote:

    It [Biden's debt forgiveness plan] would represent a middle finger to the Constitution, which vests legislative power in Congress, not the president. It would represent a middle finger to Congress, which has not given the executive branch the authority to give $10,000 each to millions of college students. It would represent a middle finger to the Department of Education, which found last year that it "does not have statutory authority to provide blanket or mass cancellation, compromise, discharge, or forgiveness of student loan principal balances, and/or materially modify the repayment amounts or terms thereof." Nancy Pelosi confirmed last summer that "the president can't do it -so that's not even a discussion." Not everybody realizes that," she said, "but the president can only propose, delay but not forgive." Biden's response? A middle finger.

    President Biden deserves every ounce of blowback that he's getting. Americans are compassionate people. They aren't fools. The policy is ill-conceived and should be challenged at every level. It's a sure sign that not only are radical progressives in control at the White House; but also that they are very willing to shred the Constitution to troll for votes in November.

poll#160

Are you in favor of the Joe Biden Executive Order, just weeks before the midterm elections, to shift the Higher Education debt, of up to $10,000.00 per individual, to the taxpayers of this Republic (estimated at 1/2 trillion)?

  Yes, it costs so much to go to college, and the right job is so hard to find in my focus of study.

  No, one's individual debt should be born by the beneficiary of that debt; certainly NOT by others that work to support their own families and pay their own debts, and their taxes.

  I am bereft of knowledge, so who cares?

456 total vote(s)     What's your Opinion?

poll#154

Inarguably, the policies of the Democrats in congress and Joe Biden as the Executive is plunging the United States into a recession, if we are not already there; a recession that was completely avoidable. Will abrupt changes in policies occur in time?

  Yes, the Democrats have a bold plan, yet to be revealed, to save us.

  No, there will have to be a complete undoing of the damage done by these Democrats.

  I can't do simple math, so how am I to understand the concept of basic economics.

1,216 total vote(s)     What's your Opinion?