President Biden’s student loan bailout for rich, educated people making six figures is a bitter pill for many to swallow.
Like the military veterans who sacrificed life and limb to pay for their education.
Responsible professionals who paid off the loans like responsible adults.
And those who couldn’t justify taking on such a huge debt who had to forgo college altogether.
Then there are the students just entering college who fear this will embolden high education to jack outrageous costs even higher.
The New York Times reports that Biden’s plan has divided Democrats, who don’t think it went far enough with student loan bailouts, U.S. Sen. Michael Bennet is among them.
Joe O’Dea, Bennet’s Republican opponent, agrees the problem of over-priced education is real, it’s the solution that’s a total clustermuck.
We’ve got to address the cost of higher education, especially for low-income folks, but not with an inflationary move that transfers the debt onto working Americans during a recession. That’s wrong. https://t.co/yT29vecsQg
— Joe O’Dea (@ODeaForColorado) August 25, 2022
Trying to buy the votes of recent college graduates, also known as Democrat voters, by forcing the rest of us to accept hundreds of billions more in taxpayer debt is upwards redistribution.
It’s socialism by baby steps, and many in Congress, including Democrats, say the president doesn’t have the authority to just wipe away personally incurred debt.
We expect Biden’s plan will backfire. The question is, will it get the president’s popularity numbers off life support, and is it enough of a bluff to keep Congress under Democrat control so they can create even more havoc on our economy over the next two years.