20 Million Behind On Electric Bills But Biden Forgives Student Loans — Joe Biden, yesterday, Aug.24, said he would forgive $300 billion in student loans through an executive order. The specifics are that $20,000 in Pell Grant debt — $10K for other educational debt — disappears for those making less than $125,000 per year.
There is a nugget of good here. College was a scam for many. High school kids — and their parents –were told by the authorities it was a guarantee to financial security regardless of their major.
And the authorities were lying, knowingly and baldly.
These lies caused cruel burdens, great harm and even ruined lives.
But how to make it right? Who’s going to pay for it?
Wall Street? Big College? LOL. The bureaucrat snake-oil salesmen with six-figure public jobs? LOLOLOL.
The burden is going to be squarely placed via taxes on those who paid off their debt as they were supposed, or never took on any like plumbers and mechanics and moms, even single moms.
OK, you need an explanation as to why the pain is going to come to the innocent and it’s not going to be all peaches and rainbows created when a happy wizard waves his wand and makes the bad disappear.
The debt — more than a trillion dollars — was assumed by the United States government when the loans were issued, as per the U.K.’s The Guardian.
The debt was expected to be paid off by the — wait for it — the debtors.
Ha ha. That’s not going to happen now.
Still the debt must be paid off.
Penn’s Wharton School models the cost to taxpayers at between $300 billion and $900 billion.
A fairer solution would be to treat student loans like credit card or medical debt concerning bankruptcy. While not impossible to discharge college debt through bankruptcy it is much harder than foolish credit card spending.
Why not use the same standard?
Because greedy, sick, stupid and calloused people are running government.
Meanwhile 20 million Americans are behind on their electric bills and facing shutoffs with winter coming.
Blame that on the lockdowns and green energy freaks who artificially inflate the cost of energy.
When are the majority going to stop trusting these people? The vax did not work, the masks did not help, men are not women, and Tuvalu is getting bigger.