Biden’s Prima Donna Bailouts Continue
The concept of a bailout, a term favored by the left, is akin to their use of the word “inclusion.” The left fails to grasp that a bailout comes at a significant cost. By bailing out one group, they are essentially making someone else, the taxpayers, foot the bill. Similarly, their idea of inclusion often involves setting quotas, leading to the exclusion of potentially more qualified individuals solely based on their race or skin color.
Joe Biden continues to break the law even after the Supreme Court voted against his loan forgiveness bill. He is punishing American taxpayers, including the 100 million who never attended college.
The idea that individuals who willingly took out loans can now have a significant portion, if not all, of those loans forgiven is not just outrageous, it’s a slap in the face to every hardworking American. It’s like taking out a $50,000 loan to renovate your house and then smirking when your neighbors are forced to foot most of the bill. This is not just a ludicrous idea; it’s a blatant attempt by Joe Biden to buy votes, and anyone who can’t see through this needs a reality check.
Today, Biden announced another $7.7 billion in student debt forgiveness for those who took out loans and now receive help they don’t deserve. Those who argue that student loan forgiveness is crucial to prevent millions of Americans from drowning in debt should consider this. There is no such thing as “forgiveness,” and student loan debt does not vanish; it remains a liability on the federal government’s balance sheet. The cancellation cost alone is estimated at least $400 billion. The Biden administration has effectively shifted the loan debt, agreed to by millions of student loan borrowers, onto the shoulders of American taxpayers. Biden’s student loan bailout will cost every taxpayer, even those who never went to college, at least $2,500.
The most recent action will benefit over 160,000 people, bringing Biden’s total estimated debt cancellation to $167 billion for 4.75 million individuals. Republicans criticize this as an attempt to buy votes ahead of the Nov. 5 election.
Biden, always nauseatingly pompous despite being brain-dead, naively blamed Republicans for staying in touch with reality, stating:
“Education should never be a barrier to opportunity. And I will never stop working to cancel debt, despite Republican officials’ attempts to stop us.”
Rep. Mike Simpson (R Idaho) posted the truth of the matter on X:
“President Biden continues to add to the taxpayer tab in his student loan –forgiveness scheme. Again, there is no such thing as “canceling” student loan debt. Someone always has to pay. In this case, the 87 percent of American adults who DO NOT have student loans will be footing the $7,700,000,000 bill.”
The latest grants totaling $5.2 billion are being awarded to nearly 67,000 individuals under the Public Service Loan Forgiveness (PSLF) program. This program allows individuals in specific career fields, such as public safety, health, and education, to have their debt forgiven after making 10 years of loan repayments.
On Wednesday, over 39,000 former students who participated in the Education Department’s Income-Driven Repayment (IDR) program during the Obama era received another $1.9 billion in distributions.
Bottom of Form
The Biden scam, which forgives loans after 10 years for people who pay up to 10 percent or 15 percent of their discretionary income, has supported $51 billion of Biden’s broader voting fraud, benefitting more than a million people.
If you’re unfamiliar with the SAVE plan, It is another Income-Driven Repayment plan (IDR).
The SAVE Plan is an IDR plan, so your monthly payment is based on your income and family size.
The SAVE Plan lowers payments for almost everyone compared to other IDR plans because your payments are based on a smaller portion of your adjusted gross income (AGI).
The SAVE Plan has an interest benefit: If you make your full monthly payment but it is not enough to cover the accrued monthly interest, the government covers the rest of the interest that accrued that month. This means that the SAVE Plan prevents your balance from growing due to unpaid interest.
Beginning in February 2024, the SAVE Plan will give borrowers who originally borrowed $12,000 or less forgiveness after as few as 10 years.
More elements of SAVE will go into effect in the summer of 2024 and will lower payments even more for borrowers with undergraduate loans.
Notice that as nice as the plan sounds, it states that “the government” covers the rest of the interest. Well, “the government” does not generate any income other than our tax dollars, so we are once again paying off part of the loans that are not our responsibility.
Biden conveniently enhanced his scam in August 2022, which happened to be just before that year’s midterms. At the time, even demonic Nancy Pelosi (D. CA.) spoke out that Biden did not have the authority to justify the payments.
Joe Biden is a master manipulator and has used his position in the U.S. government to make himself and his family a fortune. “To serve the people” has never been on the mind of any Biden family member. The Biden credo is “To use the people,” which continues to this day. His thinly veiled attempt to buy votes is not only unethical but also illegal. Biden is committing treason. He is not only blatantly breaking the law, but he also brags about it with that now infamously disgusting smirk on his face.
His son’s disgusting escapades and “The big guy’s” involvement should have had them both in handcuffs long ago. Instead, we have this sham trial of Trump, which is being orchestrated by Biden’s puppet handlers to try and ensure another phony election victory.
It may be hard to look a gift horse in the mouth, but if you are one of the people receiving this aid, you need to decline it. You borrowed the money, and You promised to repay it. Accepting funds that are placing a burden on everyone around you from a monstrously destructive and selfish entity like Joe Biden is allowing you to benefit from his crimes.
Ethical behavior is rapidly disappearing from global society. When it no longer exists, neither will we.
