Connect with us

The Latest News

Republicans Blast Biden’s Debt Forgiveness Scheme

President Joe Biden has a proposal to redistribute student loan debt from college-educated Americans to lower-class people. Monday saw the formal plan announced by the White House press office.

Senate Minority Leader Mitch McConnell is leading the charge among Republicans who are outraged by the action and see it as a swindle.

“President Biden’s student loan socialism is a slap in the face to every family who sacrificed to save for college, every graduate who paid their debt, and every American who chose a certain career path or volunteered to serve in our Armed Forces in order to avoid taking on debt. This policy is astonishingly unfair. The median American with student loans already has a significantly higher income than the median American overall. Experts who studied similar past proposals found that the overwhelming benefit of student loan socialism flows to higher-earning Americans. Democrats specifically wrote this policy to make sure that people earning six figures would benefit,” Wednesday saw a statement from McConnell in reaction to the action.

“President Biden’s inflation is crushing working families, and his answer is to give away even more government money to elites with higher salaries. Democrats are literally using working Americans’ money to try to buy themselves some enthusiasm from their political base.”

Republican Senator Ben Sasse stated, “The President can spin it however he wants with Pell window dressing, but at the end of the day his debt forgiveness scheme forces blue-collar workers to subsidize white-collar graduate students. Instead of demanding accountability from an underperforming higher education sector that pushes so many young Americans into massive debt, the Administration’s unilateral plan baptizes a broken system. This deeply regressive action — which fails even to acknowledge that most debt is held by folks with graduate degrees — will do nothing to jumpstart the reform higher education desperately needs.” 

You Might Like
Continue Reading