M.D. Kittle writes for the Federalist about the president’s latest student loan plan.
President Joe Biden campaigned in swing-state Wisconsin on Monday to sell his latest student loan bailout program, a multibillion-dollar election-year bribe that delivers a shaky middle finger to the Supreme Court.
Not surprisingly, the Democrat’s friends in the accomplice media regurgitated White House talking points on Biden’s Plan B loan- and interest-forgiveness initiative without mentioning the cost to federal debt-burdened U.S. taxpayers.
According to Wisconsin Public Radio:
Under the proposal, debt would be canceled for people already eligible for certain federal student loan forgiveness programs. It would also cancel debt for anyone who began repaying their undergraduate loans more than 20 years ago, or graduate loans more than 25 years ago…
According to a press release, the plan would eliminate all accrued interest for 23 million people and cancel out debt for 4 million people.
The federally subsidized public radio outlet didn’t bother with details like the price tag to taxpayers. Neither did the Milwaukee Journal Sentine in its promotional piece for Biden’s new bailout. At least The New York Times, while performing its role of Biden administration water carrier, acknowledged, “Officials did not say how much the new plan would cost in coming years, but critics have said it could increase inflation and add to the federal debt by billions of dollars.”
How could it not? The New York Post estimated Biden’s latest bribe could rival his last failed student debt forgiveness program, a $400 billion-plus unconstitutional behemoth.
Who is going to pay to shrink student loan debt for 23 million borrowers? The complete bailout of 4 million Americans? Debt buyouts of $5,000 or better for 10 million college loan debt holders (More than $50 billion on that account alone)?
Taxpayers. Taxpayers with student loan debt. Taxpayers without student loan debt. Taxpayers of all kinds, particularly future taxpayers.
