Joe Biden unveils new plan to saddle Americans
with $1.6 trillion in student loan debt
American Thinker,
by
Monica Showalter
Original Article
Posted By: PageTurner,
4/28/2022 9:04:39 AM
Joe Biden is in trouble. His Democrats are collapsing at the polls based on his disastrous first term and now midterms are around the corner.
What's a failed president to do? Dole out the goodies, of course, some big ones in a desperate bid to win back younger leftist voters.
According to CBS News:
President Biden is looking at different options to forgive an unspecified but substantial amount of federal student loan debt — a move that would thrill some of his most loyal supporters and financially strapped students nationwide, but is a departure from campaign pledges to provide limited relief.
The president shared his plans during a 90-minute White House meeting Monday
Of course the idiot doesn’t say what he is going to do about current and future student loans. Are they going to pay those off too? Of course they are. The Democrats are going to use this as an ongoing election vote buying scheme/scam.
22 people like this.
Reply 2 - Posted by:
nwcudagal 4/28/2022 9:27:47 AM (No. 1140595)
How did he stay awake for 90 minutes?
14 people like this.
Reply 3 - Posted by:
Strike3 4/28/2022 9:37:18 AM (No. 1140606)
Forget the $10,000 nonsense, nothing short of 100% forgiveness will satisfy the deadbeats who were not smart enough to choose a field of study that would land them a job after graduation. You will find that most of them are dropouts or Antifa types who have no problem with the honest American taxpayers paying for their mistakes. There is a weird trend here for Biden to go along with everything that AOC demands and it has nothing to do with the brilliance of her ideas. Debt can NOT be forgiven, only extended or redirected, otherwise Mushhead will be creating a banking crisis that would be worse than his economic crisis.
19 people like this.
Reply 4 - Posted by:
Submariner 4/28/2022 9:37:54 AM (No. 1140607)
Make the indoctrination centers who got this money eat the debt. Tuition cost growth has outstripped GDP and inflation, even Bidenflation. How large is Harvard's trust fund BTW?
22 people like this.
Reply 5 - Posted by:
Avikingman 4/28/2022 10:16:08 AM (No. 1140657)
Let the colleges and universities pick up the tab.
They're the ones that raised tuitions to obscene levels.
Deans of claptrap making $300K/yr?
25 people like this.
Reply 6 - Posted by:
LadyHen 4/28/2022 10:36:29 AM (No. 1140684)
And he will do nothing. It's just the carrot on the stick once again.
The young are perpetually gullible and ridiculously irrational so the perfect "victim" for political exploitation. And this is their big issue because they were sold a huge bill of goods when it comes to the "need" for a (more often than not useless) college degree for everyone.
The old DC mantra is and always has been "If you solve a demographic's problem, how can you run on it in the next election?"
7 people like this.
Reply 7 - Posted by:
justavoter 4/28/2022 10:48:47 AM (No. 1140704)
FJB is ALWAYS wrong. This is no different. The unintended consequences from a decision as this is nothing but disaster for those holding the debt.
6 people like this.
Reply 8 - Posted by:
msjena 4/28/2022 10:53:19 AM (No. 1140710)
This is such a bad idea in many ways. What about students still in college who need have or need to take out more loans? The problem of student debt is ongoing. A one-time fix does nothing. Maybe the government should stop giving away easy money to people who can't pay it back. Put lower limits on borrowing and let the colleges find way for students to pay their exorbitant tuition.
4 people like this.
Reply 9 - Posted by:
Starboard_side 4/28/2022 10:56:07 AM (No. 1140712)
I believe it would be considered a benefit, or income, by the IRS, which would result in massive taxes due to anyone who had their loans "forgiven".
I would support the forgiveness of loans to public school teachers who teach in under-represented school districts, and have been on the job a minimum of 5 years, but would also have to stay on that job another 3 years.
It could be structured in a similar way to how a company handles tuition reimbursement where you need to stay on the job after you earn the degree, for a certain amount of time. And, since they are public employees it could be justified.
It would also be a way to increase their disposable income without having to increase the local taxes that support most of teacher compensation.
0 people like this.
Reply 10 - Posted by:
Sanchin 4/28/2022 10:56:52 AM (No. 1140714)
Instead of canceling the debt just cancel the interest on the debt. Financing higher education was corrupted by the GI BILL (not because GIs coming back did not deserve the benefit BUT because it set the precedent that the Government will pay and Universities have since then been exponentially increasing tuition because they know the loans are available. It is indentured servitude and the value of the product is not near the cost! And do not kid yourself, this society is structured that without a college degree you GREATLY limit your opportunities. Something has to be done canceling the entire debt is unjust but the interest can be removed and then a through restructuring of our higher education is needed.
8 people like this.
Reply 11 - Posted by:
ussjimmycarter 4/28/2022 11:03:50 AM (No. 1140720)
Don’t places like Harvard have BILLIONS in reserve? Make them pay! Stinking commie pinkos!
13 people like this.
Reply 12 - Posted by:
LanceLink1 4/28/2022 11:08:42 AM (No. 1140723)
That'll help lower inflation.
3 people like this.
Reply 13 - Posted by:
stablemoney 4/28/2022 11:22:00 AM (No. 1140738)
Did we co-sign these people's student loans? I don't think taxpayers should pay for some people to go to law, medical, and get masters degrees. Those are choices they made, and they took out the loans and signed the note, not taxpayers.
9 people like this.
Reply 14 - Posted by:
cold porridge 4/28/2022 11:22:53 AM (No. 1140739)
Oh, well then let's just forgive everyone's IRS debt and debt on all credit cards then. ...Idiots
6 people like this.
Reply 15 - Posted by:
Right Time 4/28/2022 11:30:03 AM (No. 1140745)
I think that I will just stop paying any federal income tax. What's the point?
5 people like this.
Reply 16 - Posted by:
Quigley 4/28/2022 11:34:22 AM (No. 1140754)
I assume these loans are from private lenders and that the loans are guaranteed by the government.
Joe has always taken really good care of lenders. Are these loans in default with huge unpaid interest and fees accumulated?
3 people like this.
Reply 17 - Posted by:
columba 4/28/2022 11:55:56 AM (No. 1140784)
I paid off my student loan debt.
6 people like this.
Reply 18 - Posted by:
bighambone 4/28/2022 12:23:51 PM (No. 1140806)
It’s possible that Biden is supporting a political bait and switch to attract young leftist voters to vote for Democrats in the November election. As Biden will not be on that November ballot, so by telling those gullible young people if they vote for Democrats in the November election allowing the Democrats to continue to control the Congress, that he and the incoming new Democrat Congress will wipe out their student debt. Just like Biden and the Democrats did before the 2020 election to buy votes, after which no student debt was cancelled. We may see that happen again, as only the White House politburo knows at this point what the real plan is the secure the votes from young leftist Democrats who right now own that debt.
3 people like this.
Reply 19 - Posted by:
Philipsonh 4/28/2022 12:36:34 PM (No. 1140819)
Exactly how wide does 'executive action ' by a U.S. President extend; Biden, the puppet, is using it to literally ruin, I mean run, the Nation. Is there a Congress any longer ? What is the limit of a President's power ? Is there any, any longer ? Can a President just add $ TRIILIONS to the National debt, unilatetally.
4 people like this.
Reply 20 - Posted by:
msjena 4/28/2022 12:43:56 PM (No. 1140823)
#16, you assume wrong. The government is the lender. When Obama took office, he ended the program as it had existed for years, with private lenders backed by the government.
3 people like this.
Reply 21 - Posted by:
DVC 4/28/2022 12:59:38 PM (No. 1140846)
Make the student's pay their OWN DEBT.
4 people like this.
Reply 22 - Posted by:
3XALADY 4/28/2022 12:59:55 PM (No. 1140847)
Raise your hand if this isn't where you figured this would end up when Obola did away with Sallie Mae (?) all those years ago and the gooberment took over the college loans. Every day the Moron makes me a little sicker to my stomach.
3 people like this.
Reply 23 - Posted by:
GirlwithaCurl 4/28/2022 3:20:50 PM (No. 1140972)
Like the $100K loan a younger co-worker disclosed, to me, that she's accumulated for her jewelry making degree "from the best school"! She now works at PetSmart!
1 person likes this.
Reply 24 - Posted by:
Robert Jones 4/28/2022 3:28:18 PM (No. 1140985)
Can Biden do this without a law being passed? If he can, what can't he do?
1 person likes this.
Reply 25 - Posted by:
JrSample 4/28/2022 7:36:10 PM (No. 1141156)
Love how diaper-Joe concentrates what little political capital that he possesses on an issue that is completely meaningless and unimportant to the vast majority of voters. In fact, it is practically designed to alienate voters who do not have college degrees and voters who paid for their education or paid back their loans. Meanwhile, Quid Pro Joe's inattention and neglect of inflation, energy prices, crime, and the border crisis continues to infuriate voters. Impeach, Remove, Incarcerate
1 person likes this.
Reply 26 - Posted by:
Faithfully 4/28/2022 8:59:56 PM (No. 1141208)
Go for the works Joe. Cancel all credit car debt.
1 person likes this.
Reply 27 - Posted by:
doctorfixit 4/29/2022 1:51:33 PM (No. 1141721)
To hell with Biden. If they're going to renege, then let their credit rating reflect it. Cancel the debt. No bailout.
0 people like this.
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Pandering the youth vote for midterms -- on our dime.