Joe Biden’s announced strategy to shift hundreds of billions of dollars in student loan indebtedness from students who took the money to taxpayers who didn’t create an insurrection – among members of his own Democrat party.
The move “sends a wrong message to those without a degree,” charged Rep. Tim Ryan, D-Ohio. “While there’s no doubt that a college education should be about opening opportunities, waiving debt for those already on a trajectory to financial security sends the wrong message to the millions of Ohioans without a degree working just as hard to make ends meet.”
Maine Rep. Jared Golden, another Democrat, said, “This decision by the president is out of touch with what the majority of the American people want from the White House, which is led to address the most immediate challenges the country is facing.”
Rep. Chris Pappas, D-N.H., said the Biden scheme just “sidesteps” Congress would accomplish little in a campaign to address the affordability of higher education.
Biden on Wednesday announced plans to transfer the debts, up to $10,000 for some students and $20,000 for others, if they are making less than $125,000 a year, from those who borrowed and spent the money to taxpayers who now sometimes will find themselves writing checks to cover the costs of “gender studies” degrees and the like.
The Daily Mail explained, “With midterms right around the corner, some Democrats are worried that they will lose favor among those who worked hard to save up, work through or swiftly pay off their student loans.”
Democrats, in fact, have confirmed that those who worked hard, avoided pricey lifestyles and deprived themselves of luxuries in order to pay off their student loans already will, in fact, be punished with no benefit for that financial responsibility. Those who splurged, took it easy and bought expensive tidbits and trips, will benefit.
The nonprofit Taxpayers Protection Alliance told DailyMail.com Biden’s agenda is “a reckless policy that will overwhelmingly benefit wealthy Americans and increase the deficit and debt.”
The report said Democrats are turning “against Biden” for his plans to have taxpayers pick up the tab for those loans.
Estimates on the costs range from about $300 billion on up to nearly $1 trillion.
The unrest among Democrats started out as “sputterings of dissatisfaction,” the report said, and shortly “erupted into a full-blown civil war within the party.”
Problematic will be the fact that those who have paid off their loans – or those who didn’t take any loans, for example, working their way through a trade school or professional training – have to pay for those Harvard and Yale graduates who hold “gender studies” degrees and the like. Estimates are that each taxpayer will have to cough up another $2,000.
Hundreds of officials inside the Biden administration also are in line to benefit personally from Biden’s maneuver.
The Mail noted the Democrat insurrection is that, “Democrats, who are fearing a Republican bloodbath in the 2022 midterms, are turning against the president as the White House scrambles to explain how they will pay for the plan.”
The report said Education Secretary Miguel Cardona has ducked out on that question multiple times already.
Nevada Sen. Catherine Cortez Masto added, “I don’t agree with today’s executive action because it doesn’t address the root problems that make college unaffordable.
“‘We should be focusing on passing my legislation to expand Pell Grants for lower income students, target loan forgiveness to those in need, and actually make college more affordable for working families.”
Jason Furman, the chair of Barack Obama’s Council of Economic Advisers, said, “Pouring roughly half trillion dollars of gasoline on the inflationary fire that is already burning is reckless.”
Inflation under Biden, in fact, has surged to repeated points nearing double digits, the highest in decades. This means his policies already are costing ordinary consumers thousands of dollars a year more just to maintain the lifestyle they had a year ago.
Sen. Michael Bennet, D-Colo., “conceded the adverse effects” of the student loan debt in America. He said Biden’s plan wasn’t targeted enough to the real problems.