Your taxes are about to go up because Joe Biden just canceled nearly $4 billion in student loan debt as a ploy to get deadbeats who don’t want to pay their student loans to vote Democrat in the coming midterm elections. That’s exactly what this is all about.
Everything the Democrats do is either to interfere in an election or to rig it. In this case, Biden did the latter.
Joe Biden canceled $3.9 billion in student loan debt. He did this for students who attended the ITT Technical Institute, which is now defunct. According to the Department of Education, which should be disbanded, this $3.9 billion student loan cancelation is for students who attended the school from January 1, 2005 through closure of September 2016.
The point is, if a for-profit college is caught up in misrepresenting its programs, that’s something for the courts to handle. You don’t just cancel loans that banks made because you have midterm elections you want to win.
This brings the total amount for student loan debt cancelations to $32 billion and it makes Joe Biden the only president in US history to cancel this much student loan debt. And why not? He’s already wrecked our economy and took away millions of American dreams for the foreseeable future by spending us into oblivion, giving us an inflation cycle that will take a long time to end. Why not tack on $32 billion more?
Biden thinks it’s no big deal because the government has endless money. But it is a big deal. The government has no money of its own. It doesn’t manufacture things that people want to buy, and so for every dime the government spends, it has to forcefully take that dime from American taxpayers. You are going to pay for these loan cancelations.
VISIT OUR YOUTUBE CHANNELJoe Biden just told a load of deadbeats who signed a loan application where they entered into a contract to pay back a loan that they don’t have to honor their contract because the rest of the American taxpayers will pay it for them.
Where is the line to have my mortgage paid off? No? How about my car loan then?
The market is going to react to this. It’s going to restrict. What happens if Biden needs even more people to vote Democrat, and he goes to cancel credit card debt?
It’s like this administration is intentionally doing things to wreak havoc on our economy.
College attendance is rapidly declining. According to reports, when comparing to 10 years ago, there are now 4 million fewer students enrolled in college. Much of that can be blamed on the Biden administration pushing colleges to mandate that students take experimental medicine during the COVID pandemic. The decline in student attendance at colleges began after the COVID pandemic began, and you can thank the Democratic Party for that. They are the ones who locked people down, forced masks in schools, and bankrupted businesses.
Young people today don’t feel the rising costs of college tuition are worth going through gender studies, LGBTQ+ history, feminism in America, and critical race theory for a degree. But when you add a woke atmosphere to college lifestyles, students would rather go other routes.
When you take out a loan, the entire process, from signing on the dotted line of the loan application, to spending the money, to repaying the money, is your responsibility and not that of the taxpayers. I paid off my college student loan and I don’t think I should have to pay off some deadbeat’s student loan that I had nothing to do with.
Not only does canceling student loan debt cause moral issues in the country because millions of Americans see other Americans getting their student loan debt canceled when they spent years paying off their own student loans. The problem is that many banks will now see that the federal government is now in the business of canceling loans and that’s got to become a factor in how they approve loans from now on. When they don’t know what the government will do because it behaves recklessly, making the government appear unstable it makes it difficult to do business.
