Just two weeks after I compared the Democrats’ economic policies to Medieval crushing torture, President Biden dropped yet another weight on America’s working class, leaving me to conclude that torture isn’t an unintended consequence of Biden’s economic agenda, but the purpose of it.
When the government consistently makes decisions that inevitably crush the very people it claims it wants to “help,” what other conclusion could you possibly draw?
After previously claiming that he would not give in to progressive lawmakers’ demands to “cancel” student loan debt, yesterday Grandpa Joe announced he would do just that.
Yup. Now, working families who are already struggling under the weight of 40-year high inflation and the skyrocketing consumer prices that fueled it will now be saddled with bailing out around $300 billion in other people’s debt. And most of those other people are earning far more than the ones stuck bailing them out.
Meanwhile, the universities who exploited Obama’s federalizing the student loan program to jack up their tuition rates will walk away scot-free, leaving us with the bill.
Remarkably, the president insists that this is going to “lower” inflation and bring much-needed relief to Americans suffering under the torture his administration’s policies have caused.
Maybe Peepaw Joe believes that, who knows?
Or maybe, as I’ve said in the past Joe Biden is the same asshole he’s always been, so crushing the American people matters to him about as much as a June bug in July.
And here I thought living with Lupus was torture.
Families who chose not to saddle their own kids with a debt they could never pay back are now supposed to bail out college graduates earning up to $125,000 a year.
On what planet is that justifiable?
Good heavens, even Jason Furman, the former Chairman of Obama’s Council of Economic Advisors said “pouring roughly half trillion dollars of gasoline on the inflationary fire that is already burning is reckless.”
The Biden administration knows it isn’t right. But they don’t care.
They did this less than three months from the midterms for one reason: to buy votes.
Sure, those fuckers are buying those votes our money. And yes, it’s craven and obscene, not to mention unconstitutional. But when all that matters is political power, nothing is ever going to be off the table.
Yesterday, Carol Roth, the author of “The War on Small Business,” reposted the link to her April column, “Canceling student debt doesn’t fix the problem” which is probably the best commentary on the causes of and solutions to this massive student debt problem that I’ve read. Then again, pretty much everything Carol writes is excellent, including her book.
And while I strongly urge you to read the entire column, here’s a pull quote:
So, how does the government picking some group of people to have their debts “forgiven” solve anything? It would unfairly shift the burden of the costs (via more national debt, inflation, etc.) from the person who took on the obligation and received the benefits from it to all taxpayers. Those who passed up college, went to a cheaper school, made sacrifices to pay down their college debts, or carry other types of debt burdens would be unfairly penalized by the government picking winners and losers.
It would do nothing to help get college costs under control and prevent the same situation from happening in the future. It wouldn’t put any schools on the hook for selling degrees that aren’t worth their costs.
All it does is give the government power to play game show host and ultimately buy more votes.
Roth outlines exactly what needs to be done to solve the current problem. It is clear and concise, and even an economic illiterate like me can follow it.
Biden’s “solution” is to treat a symptom while leaving the larger systemic problem untouched.
But solutions have never been this administration’s strong suit.
Like most government “solutions” will only make the problem worse while creating a whole new passel of problems on top of it.
And the torture will just keep coming.
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