One would hope anyone who attended college in the past few decades is aware of the financial burdens that could come from it.
But President Biden has been out of college for a very, very long time.
And now Joe Biden and his allies are pouring more gas on the student loan debt fire.
Perhaps a course on inflationary policy, or even Economics 101, in the 1960’s would have been of benefit to the President and his administration.
The latest Band-aid for the American education system
The President was quick to try to change the narrative over student loans and focused his messaging on the American middle class.
To those Republicans in Congress who believe student debt shouldn’t be forgiven:
I will never apologize for helping America’s middle class – especially not to the same folks who voted for a $2 trillion tax cut for the wealthy and giant corporations that racked up the deficit.
— President Biden (@POTUS) August 25, 2022
He claimed to be helping the economy.
But now taxpayers (including those in the American middle class who never attended college) are going to be on the hook for graduates.
The truth is, one time debt “cancelation” does nothing to fix the American Education system.
Why?
First, college tuition rates are still going up.
Biden’s student loan bailout does nothing to fundamentally reduce the cost of education.
The White House message to educational institutions instead comes across as, “Keep bumping those tuition dollars up. We’ll figure it out later.”
And the White House message to the American people is crystal clear: “Keep paying $100K for your useless genders studies and fine arts degrees. We’ll pass the buck on to the middle class.”
Why the Band-aids now?
The President has proven time and again that he loves short-term gains to control the narrative, even if this pours fuel on America’s current inflationary crisis.
Have you been to the grocery lately?
Or, how about the gas station?
Biden’s student loan bailout further inflames the inflationary fire that is already at the highest rate in 40 years.
When Biden talks about helping the American middle class, he forgot, or completely ignored, that consumer prices and consumer demands have skyrocketed already.
The real reason for this quick-fix announcement is easy to see.
The Midterm elections are coming up and there are tight races across the country for Democrats this fall.
While moderate Democrats will distance themselves from this unConstitutional decree, Biden is putting all his eggs in one basket with voters.
He is hoping a large portion of his voting bloc will thank Democrats at the ballot box.
So Biden’s willing to trade a disastrous long-term impact for a short-term gain in power.
Quick-fix schemes while the dollar burns
The other message from the administration is that students can continue ignoring personal responsibility as well.
There is no responsible spending on Capitol Hill, so why should students and young people balance their budgets at home and school?
Instead, students may just take a page out of the Biden playbook – charge everything now and kick the can down the road.
And in this age of politicians picking winners and losers, it was an easy choice for Democrats worried about the November Midterms.
Picking a random income cap of $125,000 for loan borrowers won’t likely end the conversation, either.
Taxpayers cover tuition, so why stop there?
Why not mortgages or car payments?
What about farming equipment for America’s struggling farmers?
Clearly, a course on balanced budgets or responsible spending would have benefited the Biden administration.
If that is too difficult, at least check out a popular children’s book, If You Give a Mouse a Cookie.
Then they might’ve learned, if you give a mouse a cookie, he’ll want a glass of milk.
But perhaps that book was thrown in the fire with the student loans.
Patriot Political will keep you up-to-date on any developments to this ongoing story.
