The people who get stuck with the bill? The working class – supposedly those who the Democrats promise to work form. Those who never went to college, those who went into the trades, those who enlisted in the military to serve our country, those who went to college and paid off their debts, high schoolers getting their first jobs – in short – all tax payers will have to foot the bill for the President’s obvious vote-buying move. And it is not just today’s workers on the hook. This bill becomes part of our national debt that will take generations to pay down.
The problem – of course – is that student loans are not actually canceled. The Federal Government merely guarantees the student loans – it does not actually lend the money. Students receive their loans through private institutions who are more than happy to make the offer – because these banks and lending institutions know that they will get their money back no matter what – either through the student who supposedly promised to repay the loan or through the Federal Government.
Welcome to the NHC GOP Podcast Friday update, I am Reuel Sample.
This morning, the White House announced that the Biden Administration is moving forward with yet another attempt to buy the votes of those with outstanding student loans. From the White House Website:
Today, President Biden announced that 277,000 more Americans will get their student debt canceled, bringing the total debt relief approved by the Biden-Harris Administration to $153 billion for 4.3 million Americans through various actions
You heard that last number correctly. $153 Billion (with a B) of student loans that no longer have to be repaid by those who promised to repay them. The Participation Trophy Generation gets awarded again – this time for going to school, getting degrees in often useless subjects, having a great time while doing so – and not having to pay for it at all.
The people who get stuck with the bill? The working class – supposedly those who the Democrats promise to work form. Those who never went to college, those who went into the trades, those who enlisted in the military to serve our country, those who went to college and paid off their debts, high schoolers getting their first jobs – in short – all tax payers will have to foot the bill for the President’s obvious vote-buying move. And it is not just today’s workers on the hook. This bill becomes part of our national debt that will take generations to pay down.
The problem – of course – is that student loans are not actually canceled. The Federal Government merely guarantees the student loans – it does not actually lend the money. Students receive their loans through private institutions who are more than happy to make the offer – because these banks and lending institutions know that they will get their money back no matter what – either through the student who supposedly promised to repay the loan or through the Federal Government.
So President Biden and the Liberal Left are not canceling the loans – they are merely transferring them – and they are transferring them to you, me, members of the military, those who went to the trades, and so on.
Thankfully, States like Missouri and Kansas are fighting back and suing the administration. According to the Daily Signal:
That the president lacks the authority to do so is the gist of Missouri’s case and the nearly identical case filed by Kansas less than two weeks ago. In total, 18 states have now joined one lawsuit or the other to prevent the Biden administration from carrying out the SAVE Plan.
In a podcast published just yesterday on this platform, a group of Gen Z conservatives expressed their views on various issues, including the economy. Their views were solid – the reason why the younger generations – including those who are targeted in this voting-getting attempt by the Democrats – is that the Liberal Left has so destroyed the economy that things like repaying student loans, buying a house, or even getting groceries has become all but impossible. The answer – they and others know – is not by canceling debt but by releasing the economic juggernaut known as the American economy driven by low taxes, sensible regulations, and low government spending.
Predictably, the Democrats are demonizing the Republicans for not getting behind this vast transfer of debt. One CNN opinion write called the Republican opposition “obstinate”. Karine Jean-Pierre – the President’s Press Secretary told reporters – according to the Washington Post:
Republican elected officials across 18 states want to prevent their own constituents from benefiting from the Save plan,” White House press secretary Karine Jean-Pierre told reporters. “They want to make their constituents’ monthly payments go up and keep them under mountains of loan debt with no end in sight.”
She is completely wrong – as she is usually is – and in mainly one area. The end in site is the November elections. This year the American people here in New Hanover County and across this great country – if the present polls hold – will elect Donald Trump and the Republicans to correct this mess of an economy that the Democrats have made.
As a result, Republicans will lower taxes to spur economic growth. We will make ourselves energy independent which will lower the cost of just about everything from gas in the tanks to groceries to construction. Here in North Carolina we will continue to decrease taxes yet still fund those areas critical to Tar Heel State. In New Hanover, our County Commission will find sensible ways to put our local economy into overdrive yet still maintain the beauty of our area. Our Republican school board members will explore new ways to bring a quality education to our children while being good stewards of the tax money that you give them.
All this means is that there will be more money your pocket to get groceries, to buy or rent a better house, to enjoy the blessings of our country – and yes – to repay the loans that you promised to repay.
For the NHC GOP Podcast, I am Reuel Sample. Thanks for listening.