BIDENS 1.6 TRILLION BRIBE but is it that bad?
Written by Peter Boykin on April 27, 2022
Shared By Peter Boykin – American Political Commentator / Citizen Journalist
Who picks up the tab? You do, then again are we not already picking up the world’s tab? Should we not put Americans First?
First off let me explain that I myself have over $200k in Student loans after getting two Masters in IT a “desired field” yet since it’s all “Leftist Woke” cannot get HR to hire me.
I for one would like some debt forgiveness, if at least dropping all the interest on the loans and forgiveness on the interest and the allowance of lowered payments.
But, here is the data… Fyi the Government already owns the debt so it’s basically not an extra expense to ignore the debt they already own and write it off…. But here is the data… Oh and one more thing… Don’t we bail out the rest of the world ie Ukraine …. ? So is it so bad to bail out our own people…. ?? Ok side note opinion over… Here’s the Data
Even Trump wasn’t totally against it…
Joe Biden told House Democrats that he is seriously considering forgiving student loan debt – a move that would stick the debt on the American taxpayers [many who did not go to college or already paid off their own debt].
The details: Biden met with the Congressional Hispanic Caucus on Monday and signaled to them that he is on board with student loan forgiveness – even suggesting he is looking to forgive much more than the $10,000 per student he committed to on the 2020 campaign trail.
43 million Americans hold student loan debt
Total student loan debt is $1.6 trillion dollars
The cost of debt forgiveness: There are several forgiveness models being considered. Bernie Sanders is pushing for total cancellation. Elizabeth Warren wants $50k per person.
Biden campaigned on $10k per person. Here’s what each would cost the American taxpayer:
💰 Full loan forgiveness: $1.6 trillion dollars
💰 $50k per person: $1 trillion dollars
💰 $10k per person: $373 billion
Who benefits most?
Generally, the people who benefit most will be higher-income, higher-educated, white liberals.
Only between 4% and 7% of this will benefit Americans in poverty.
Beneficiaries of forgiveness earn between $76,400 and $86,500 annual income.
Who picks up the tab for the up to $1.6 trillion Biden plans to forgive? You do.
According to the Wall Street Journal: “forgiveness wouldn’t make that debt disappear. It would merely transfer it to the federal debt.”
Our current federal debt is already over $30 trillion dollars.
This is a bribe.
The Democrats know that their voters are disimpassioned by the chaos and instability Biden has caused so far. So they’re trying to buy them off right before the midterm elections.
Americans without a college education earn $1 million less over their lifetime than college graduates. Why should they have to pay the college grad’s debts?
Editors opinion note: Personally I think this leads to a great time to overhaul the whole higher education system. I would love to have public higher education for the public to include trade schools. I think that full forgiveness of loans isn’t a bad thing as long as we fix the system so in 20 years we are not back here again.
[Source: Brookings, WSJ, Waking Up Right]
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