President Joe Biden has introduced another student loan forgiveness plan that skates on the thin ice of constitutionality. This is not only a blatant defiance of the Supreme Court’s authority, but also a transparent attempt to curry favor with a younger segment of the electorate. The question on many minds is: at what cost?
A Supreme Defiance
Last year, the Supreme Court struck down Biden’s ambitious $400 billion loan cancellation plan, marking a significant blow to his administration’s promises. Undeterred, Biden has pivoted to introduce new plans under the guise of offering relief to over 30 million Americans burdened by student debt. These initiatives promise to wipe clean the slate for millions, eliminating accrued interest for 23 million borrowers and outright canceling debt for more than four million individuals.
However, what stands out is not the generosity of the plan but its questionable legality and the apparent disregard for the Supreme Court’s ruling. The President’s maneuvers to bypass the highest court in the land raise serious concerns about the adherence to the principles that govern our nation.
The Real Cost of Forgiveness
The administration’s plans, while presented as a lifeline to the indebted, overlook the significant burden they place on taxpayers. The forgiveness of billions in student loans translates to a hefty bill that Americans who diligently paid off their loans or chose not to take them will now have to shoulder. This move is particularly galling to those who have scrimped and saved to fulfill their financial obligations, only to see their efforts rendered moot by a sweeping act of executive overreach.
Furthermore, these plans do not address the root causes of the student debt crisis, namely the exorbitant cost of higher education and the predatory lending practices that have ensnared generations of young Americans. Instead, they offer a band-aid solution that may encourage future borrowers to assume debt with the expectation of eventual forgiveness, perpetuating a cycle of fiscal irresponsibility.
Alienating the Electorate
Beyond the financial implications, Biden’s student loan forgiveness scheme is a divisive political play. By targeting a specific demographic, the administration risks alienating a vast swath of the electorate. Those who have paid their loans, those who never attended college, and the taxpayers who will ultimately fund this forgiveness are rightly concerned about the fairness of this approach.
It’s a tactic that reeks of desperation, aiming to “buy” votes from younger voters in a bid to secure the upcoming election. Yet, this pandering move overlooks the intelligence and discernment of the American people. MKost Voters are keenly aware of the implications of such policies, both for the national debt and for the precedent it sets in terms of fiscal policy and executive power.
Unfair to the Diligent
At the heart of the debate is a fundamental issue of fairness. The message sent by Biden’s forgiveness plans is clear: contracts can be nullified, and personal responsibility is optional. For the millions who have met their obligations, this is a slap in the face. It undermines the value of hard work and perseverance, qualities that have long defined the American spirit.
Moreover, it sets a dangerous precedent. If student loans can be forgiven en masse today, what other obligations might be erased tomorrow? This slippery slope threatens to erode the very fabric of our financial system, where trust and accountability are paramount.
Final Thoughts
President Biden’s student loan forgiveness efforts, while dressed in the robes of benevolence, are a misguided and potentially unconstitutional foray into vote-buying that could have lasting repercussions for the nation. They disrespect the rule of law, burden taxpayers, and disparage the concept of personal responsibility
He cannot “forgive” the debts. He can only have taxpayers assume payment of the debt. Congress has not appropriated the funds. Congress has the power to pay debts, the President does not.
Hopefully the “millennials” will see through the SCAM for votes, and realize IF they accept this so-called “loan forgiveness:” that is making THEIR PARENTS (the TAXPAYERS) they ones that pay , and then SOMEDAY there will be a “PAYDAY” when they too, are forced to pay higher TAXES, in order to pay the “student loans” for the next generation if this is not again halted by the SCOTUS….Think about it . WHAT GOES AROUND, COMES BACK TO BITE YOUR BUTT IN THE END.
I paid my college bills as did millions of others. This debt forgiveness scam is purely a vote getting bribe. This guy is puke inducing in his illegal actions.