Biden keeps hammering on plan to have taxpayers pay student loans

 April 6, 2024

This story was originally published by the WND News Center.

After already having transferred $144 billion or more in student loan debts from borrowers to the backs of hard-working taxpayers – many of whom never had their own chance at a college education – Joe Biden is at it again.

And there appears to be a reason, as his support among young voters has dropped recently, and a report from the Washington Examiner explains a plan being developed now, if it kicks in in time, "could help put Biden over the edge with voters in key states."

The report explained Biden is using student loans "as a campaign promise again."

The Examiner reported Biden is set to announce more moves to "forgive" student loan debts for millions, even though the loans are not "forgiven," the liability is just transferred from borrowers to taxpayers, adding hundreds of billions of dollars to the national debt.

The report said Biden will announce his next steps in Wisconsin, a swing state where he's had trouble maintaining his support, next week.

He made the stunning promise earlier essentially to take some $400 billion in debt away from students and give it to taxpayers, under the HEROES Act of 2003, which was written with Iraq War veterans in mind. The Supreme Court ruled that was not constitutional, so Biden reached into his bag of "tools" and within days had announced the transfer of debt from some students to taxpayers using the Higher Education Act of 1965.

The Examiner Biden's newest scheme involves a new "rulemaking" under that act.

His announcements to relieve borrowers of that $144 billion also is under court challenge now, too.

The Examiner pointed out, "The focus on student loan forgiveness by the Biden White House comes as polls show the president slipping with key groups, including younger voters, in the rematch against former President Donald Trump."

It continued, "It’s not clear how many borrowers would be eligible for reductions to their debts, but it will likely be in the millions. Depending on when the rule can go into effect, the resulting push could help put Biden over the edge with voters in key states."

WND has reported that the debt transfers that Biden already has announced often have helped wealthy lawyers and bankers, at a cost to taxpayers who did not attend Harvard, or another of the elite universities.

Just days ago, Biden said he was giving to taxpayers the debts of another 78,000 public sector workers, totaling about $6 billion.

The Examiner reported, "Biden is sending out emails with his name and signature to anyone whose debt is getting canceled, letting them know who’s responsible. The moves have outraged conservatives who say it is illegal, fails to address the root issue of high college costs, and is a net wealth transfer from those who didn’t go to college to relatively well-off people who did."

Rep. Virginia Foxx, R-N.C., said, "I want President Biden to answer this question: How does transferring student loan debt improve the federal student loan system? The answer is it doesn’t."

Critics have openly described Biden's actions as a "vote-buying scheme," in an election year in which his approval ratings are plunging, his economy is costing American families thousands a month, and he's behind President Donald Trump in most of the more recent polling.

"Ever since the Supreme Court put a stop to Biden’s illegal mass loan forgiveness, he has taken a ‘death by a thousand cuts’ approach to foisting as much debt as possible onto the federal taxpayer in an effort to buy votes," Defense of Freedom Institute spokeswoman Angela L. Morabito said.

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