Joe Biden’s latest student-debt ‘forgiveness’ ploy is a sign of desperation


Joe Biden, defender of democracy, loves shredding norms when those norms stand between him and his brazen efforts to buy votes. 

Just look at his latest student-debt “forgiveness” ploy — and keep in mind: it’s not forgiveness, he’s just making other people who never took out any loans pay for them. 

Some $7.4 billion of debt among 277,000 borrowers is being foisted off on America at large, whether you went to college or not — a transfer with no real legal basis nor the approval of Congress. 

The Supreme Court rightly slapped down his $430 billion mega-sellout in June 2023 over its absurd use of a post-9/11 law meant to help active-duty military avoid loan troubles. 

But that didn’t stop Good Time Joe. 

He’s done round after round after round of dubiously legal mini-jubilees ever since, including: 

  • March’s $5.8 billion handout to 78,000 borrowers; if Joe misses your debt tranche one month he’s sure to hit you next time around! 
  • Another cool $5 billion for 74,000 borrowers in January; gotta keep the New Year’s party hopping. 
  • Don’t forget August 2023’s summer blockbuster: a staggering $39 billion for more than 800,000 borrowers. 

Another meatball 

And that’s not all!

The White House earlier this week teed up another big meatball, very similar to the one the Supremes killed. 

Biden loves to insist that paying off affluent blue voters somehow helps all Americans. 

But that argument comes straight from clown college. 

The payoff

Ever since the Supreme Court quashed President Biden’s huge debt cancellation program, he has mounted an end run…

August 2022: President Biden proposes a $430B cancellation of student loans for 43 million borrowers.

June 2023: The Supreme Court strikes down Biden’s plan, but he nonetheless puts forward his Saving on a Valuable Education (SAVE) plan for student debt cancellation, which is estimated to cost $475B over the next decade.

August 2023: Biden cancels $39B in student loan debt for more than 800,000 borrowers who have been paying back their loans for 20-25 years

October 2023: Biden forgives $9B for 125,000 borrowers who were already eligible for loan forgiveness under existing programs.

January 2024: Biden cancels $5B in student loan debt for 74,000 people using existing government programs.

February 2024: Biden waves away $1.2B in student loans for 153,000 people through the SAVE plan, including those who borrowed $12,000 or less who have been repaying the money for at least 10 years.

March 2024: Biden cancels $5.8B in student loans for 78,000 borrowers via the Public Service Loan Forgiveness (PSLF) program, including teachers, nurses and firefighters.

April 2024: Biden forgives up to $20,000 in accrued interest for more than 25 million student debtors.

April 2024 (cont.): Biden cancels another $7.4B in student loans for 277,000 borrowers, including SAVE and PSLF participants as well as adjustments to other income-driven repayment plans.

The move, like all handouts, hurts the hardworking through higher taxes or higher national debt. 

Worse, in this case, it will encourage colleges to keep jacking up their prices far faster than inflation, since it implicitly promises future handouts to offset those skyrocketing costs. 

Worst of all, it’s a blatant middle finger to the Supreme Court and Congress. 

In other words, he’s throwing over the system of checks and balances essential to American democracy that his party comrades claim to treasure so deeply. 

Wreck that balance and you wreck our republic, pure and simple. 

That Biden’s proposing to do so simply to enable his greasy “vote Joe” graft changes this from a cheap stunt into a political obscenity.

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Las Vegas News Magazine

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