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August 23, 2022
White House will announce student loan bailout on Wednesday because nuts to the middle class
The White House is planning to bail out its supporters who took out unaffordable student loans they were never going to pay back. According to The Hill, the plan will include at least $10,000 in loan forgiveness for borrowers who make less than $125,000. Also, another four-month pause for people needing to pay their loans back. An official plan is expected to be announced on Wednesday
Whatever nonsense the people who run Biden put on his teleprompter, please keep in mind the following:
The working class gets screwed.
As the Democrats continue their trend into becoming a regional party of coastal elitists, struggling working-class Americans who DIDN'T take out unaffordable loans for degrees in fields they would never make enough to pay back get to watch those who did get rewarded. The funny thing is during the rare instances Democrats puts themselves in a position to be challenged on that fact, they short circuit.
Most student loan debt is held by people who have master's degrees or higher
Either 56% or close to 60% of student loan debt is held by people with master's degrees. It depends on if you believe Politifact or Ron DeSantis' spokeswoman quoting Politifact.
Congresswomen most vocal about student loan forgiveness want their student loans forgiven
Congresswoman Ilhan Omar. Congresswoman Rashida Tlaib. Social media influencer Rep. AOC. They all make close to $200k a year, yet say they can't pay off their student loans. Though, because they make too much money, they won't get their debt paid off by taxpayers this go around. I'm sure they'll be pissed.
Joe Biden's White House aides hold a combined total of $4.7 million in student loan debt
Per Bloomberg, "at least 30 senior White House staffers have student loan balances, according to 2021 financial disclosures Bloomberg News obtained from the Office of Government Ethics, including Biden’s new press secretary, Karine Jean-Pierre, and Bharat Ramamurti, deputy director of the National Economic Council."
The combined total is $4.7 million. One legislative aide owes "between $500,000 and $1 million." No word on if it's the deputy director of the National Economic Council, whose job it is to advise Joe Biden on economic issues.
By the end of the month, the White House is going to claim that its next move is to either pause or forgive student debt will be to "help" the "middle class." Much like their claims that the Inflation Reduction Act reduces inflation, they'll be lying.
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