Biden Cancels More Student Loan Debt

In a move that reeks of political opportunism, the Biden administration is once again wielding its executive power to force taxpayers to foot the bill for a select group’s financial missteps. With a stroke of his pen, President Biden has approved a whopping $7.7 billion in student loan forgiveness, purportedly to ease the burden on struggling borrowers. But let’s call it what it really is: a brazen attempt to curry favor with young voters ahead of the upcoming elections.

The White House, eager to tout this latest act of fiscal irresponsibility as a victory for the people, conveniently fails to acknowledge the glaring injustice at play. By absolving nearly 160,500 borrowers of their debt, the administration is effectively penalizing hardworking Americans who have prudently managed their finances and avoided taking on hefty student loans.

Under the guise of providing relief, the Biden administration has now erased a staggering $167 billion in student debt for over 4.75 million individuals. But who foots the bill for this monumental giveaway? You guessed it—law-abiding taxpayers who have diligently shouldered their own financial responsibilities.

Secretary of Education Miguel Cardona’s attempt to paint this move as a noble gesture falls flat in the face of its inherent unfairness. While he celebrates the purported “breathing room” afforded to borrowers, he conveniently ignores the palpable injustice inflicted upon taxpayers who are left holding the bag.

But the audacity of the Biden administration doesn’t stop there. Enter the SAVE program—a thinly veiled attempt to paper over the failures of earlier repayment initiatives. By pegging borrowers’ monthly payments to their income, this program further exacerbates the burden on taxpayers by shielding borrowers from the consequences of their own financial decisions.

White House Press Secretary Karine Jean-Pierre’s feeble attempts to justify this egregious overreach only serve to highlight the administration’s utter disregard for fiscal prudence and economic equity. Her inability to address the concerns of hardworking Americans who have been left out in the cold speaks volumes about the administration’s priorities.

Moreover, the administration’s failure to articulate a coherent message to non-college-educated Americans underscores its detachment from the economic realities facing everyday Americans. While Bidenomics continues to wreak havoc on the livelihoods of millions, the administration remains fixated on pandering to a select few at the expense of the many.

Biden’s student loan forgiveness scheme is nothing short of a travesty—a flagrant abuse of executive power that penalizes responsible taxpayers while rewarding financial recklessness. It’s time for the American people to demand accountability from their elected leaders and end this reckless redistribution of burden.