No one wants Joe Biden to campaign with them for the Midterms.
That’s led him to try and buy votes in the form of a “student loan forgiveness plan.”
But Biden’s student debt transfer is already under fire from an unlikely source.
A desperate plea to get millennials to vote Democrat this fall
It’s being widely reported that Joe Biden is being rejected by his own party.
Democrat candidates looking at his disapproval rating, distance themselves.
His latest move is an attempt to transfer federal student loan debt under the guise of “forgiveness.”
This campaign point has been a popular one amongst socialist Democrats.
But just when Biden thought he finally made the right move – it backfires!
New Hampshire Representative Chris Pappas responded to Biden’s plan saying, “We all know the cost of higher education is crushing families . . . But this announcement by President Biden is no way to make policy and sidesteps Congress and our oversight and fiscal responsibilities.”
It surely does sidestep Congress and usurps their Constitutionally assigned duties.
That’s nothing new for Biden, but he only cares about one thing.
He needs to maintain power for his globalist cohorts.
Biden doesn’t care if he destroys the American economy.
He wants to “build back better” anyway.
A plan to destroy the US dollar and even an Obama official can see it
Joe Biden did promise us in 2020 that he would forgive student loans.
Promises made, promises kept?
He also promised to make sure everything he did would have funding.
Former chair of Barack Obama’s Council of Economic Advisers is blasting Biden’s plan.
Jason Furman took to Twitter to write, “Pouring roughly half trillion dollars of gasoline on the inflationary fire that is already burning is reckless. Doing it while going well beyond one campaign promise ($10k of student loan relief) and breaking another (all proposals paid for) is even worse.”
Furman points out something that is already being lost on most Americans.
While Biden’s plan is generally forgiving $10k.
It moves further to deliver an additional $10k to “qualified borrowers.”
Oh, and it’s not paid for.
Furthering runaway tuition costs won’t help anyone
College tuition has been on a runaway track ever since the 1990s.
It has quickly become more expensive with every government attempt to help people afford it.
Since the advent of Pell Grants and subsidized loans, some people have been literally getting paid to attend university.
This has led to many four-year undergraduate programs exceeding $60k, an unreasonable amount for most students.
Add an annual percentage rate and it becomes a permanent fixture in the lives of many Americans.
None of this was lost on the Democrat Representative Pappas.
He further explains, “The President’s plan also doesn’t address the underlying issue of affordability of higher education, and it is clear that the high cost continues to limit the opportunities available to students.”
Republicans didn’t miss out on the opportunity to criticize Biden.
Kevin McCarthy argued, “in addition to making inflation worse, transferring student debt does nothing to curtail runaway costs in higher education . . . Forgiveness without accountability is a free pass for failed programs with high costs and poor outcomes . . . ”
Universities across America may be rejoicing over this plan.
But the American middle class will further be crushed.
Future students will continue to bear these costs.
And in the end Biden will only create more dependents for his socialist agenda.
US Political Daily will keep you up-to-date on any developments to this ongoing story.