Joe Biden (or at least the people really running the White House) is busy trying to dismantle every President Trump did.
The federal deficit was already high. But Trump’s policies not only created a tax surplus (because of major cuts), but he was starting to get government under control.
That all went out the window, when Biden promised a New Age of radical, unchecked spending.
Now, Biden quietly made a major change that won’t help anyone—but only increase our debt all the more.
You probably won’t hear about this anywhere else.
The Biden administration is cancelling $1 billion of student loans…
In a major announcement, the U.S. Department of Education will enact student loan cancellation for 72,000 student loan borrowers who previously had some student loans cancelled, but now will get full student loan cancellation.
Joe Biden will be “canceling” the debt of some 72,000 student loans, amounting in $1 billion.
Sounds great, right? After all, student loans are “evil” and a person shouldn’t get into debt just to get an education.
Here’s what Democrats won’t tell you.
Nobody forced these college students to get a loan. There are a variety of ways to get a good education and a well-paying job, that doesn’t require massive debt.
By canceling this debt, Biden is telling a generation of Americans that they don’t have to pay back what they owe. That it’s always “someone else’s” problems and that the government will always bail you out.
That’s hardly the American way, is it?
We also have to ask, how does the government just “cancel” these loans? They gave out the money to these students (private banks haven’t given out student loans in years). Did they not expect them to pay them back?
Do they think this debt will just evaporate? That was taxpayer dollars, given in good faith to students who were obligated to pay it back over time.
You just can’t snap your figures and wish it away.
But that is apparently how Biden is running the country: make radical changes, print lots of money, and never bother to think about the consequences.
The debt Biden is racking up for this country won’t be felt by him, but a future generation. And they will be so buried in the red, they will never get out if.
- Joe Biden quietly canceled $1 billion in student loan debt.
- The amount covers about 72,000 loans made to college students.
- The government is the only entity handing out loans and will have to pay this debt itself.