I know a couple in their late 20s who took last summer off. They decided to do this for the persuasive reason that they would have more fun in the sun than they would in a job, and because President Joe Biden and the Democrats kept sending them COVID-19 relief checks to make their idleness comfortable.
Now Biden, on what authority it is hard to tell, is sending them another $10,000 each
in the form of student loan forgiveness
. One is in a fine salary-paying job, and the other is still in education of some sort. They are prime Democratic voters.
This can be no surprise, and they are hardly to blame. For much of their young lives, they have seen nothing but direct benefit from the disgraceful and cynical profligacy of the federal government, now run entirely by Democrats. No wonder they support socialist Sen. Bernie Sanders (I-VT). Federal welfare for the undeserving is all seashells and balloons as far as they are concerned.
Emergency checks were bad, but student loan “forgiveness,” as it is euphemistically called, is perhaps the most disgraceful act of a president whose dreadful 20 months in office is replete with folly. The possible exception, surely, is the national humiliation of Biden’s shambolic retreat from Afghanistan.
His action on student loans, which will cost up to about $1 trillion over the next 10 years while making further America-bankrupting write-offs likely in the future, is immoral, inequitable, and probably illegal.
On the latter point, one hopes that some group of people can secure standing to sue to prevent this revolting raid on taxpayers, which splashes cash on people who are experiencing no need, let alone hardship. Indeed, they generally will have higher earning power for the rest of their lives than do those who are going to have to open their wallets to pay off the loans.
The debts will not be forgiven. Only the borrowers will be forgiven. The debts will have to be paid off by people who did not borrow or benefit from the money.
The headline forgiveness numbers, $10,000 for most recipients and $20,000 for those who took Pell Grants (disproportionately minorities, so this is the racial Balkanization section of Biden’s move) do not cover the full extent of the damage. Repayment schedules on the reduced debt are such that it will accumulate, so we’ll have the next Biden — if such a thing is possible — coming back in some further year for a second go around.
If you didn’t go to college or if you did go but thriftily chose a cheaper option or paid off your loans, Biden and the Democrats think you’re a sap, and they’re treating you like one. You’re not their constituency. They’re telling you that loudly through a policy megaphone.
You will have to suffer the inflation they are again stoking, you must dip into your savings and incomes to ease the undeserving during their transition to better-paying jobs than you have, and your children will shoulder the debt Washington Democrats are accumulating.
Take them at their word. For them, you don’t count. In return, you can count them out in this election cycle and the next.
