Biden defies Supreme Court on student debt cancellation, absurdly claims there's no cost to taxpayers
By ethanh // 2024-02-11
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Republicans are mad that President Biden is continuing to cancel student loan debt through various workarounds to the Supreme Court's 6-3 ruling last summer against the $430 billion forgiveness plan. At a recent campaign stop in Las Vegas, Biden told his followers that his debt relief plan will continue, regardless of the SCOTUS ruling, and that his workaround plans will not burden U.S. taxpayers. "I promised we'd help eliminate accumulated student debt that millions of Americans carried during the economic pandemic and beyond," Biden said. "The Supreme Court of the United States blocked me, but they didn't stop me," he added, explaining that he "found another way" to cancel student loan debt while "not costing people" anything. Republicans who have no problem sending endless billions of dollars to support Israel are furious about Biden's forgiveness plan. They say U.S. taxpayers will foot the bill for all this "through inflation and taxes," to quote an X post from the Republican National Committee (RNC). "He's wrong," the RNC Research account continued about Biden's forgiveness plan. "That debt gets transferred to Americans who didn't go to college through inflation and taxes." (Related: Back in January, tens of millions of student loan borrowers staged a "massive student debt strike" to make their voices heard.)

Forgiving student loans "unfair," say Republicans

In late January, the U.S. Department of Education (DoE) canceled $5 billion in federal student loan debt owed by about 73,600 borrowers. This brings the current total of debt forgiveness under Biden's plan to $136 billion, covering about 3.7 million Americans. "I mean it," Biden declared about his determination to keep the forgiveness program going. "We've got another $25 billion a year" coming down the pike, he added, claiming that student debt forgiveness only "grows the economy" by reducing the debt burden on struggling post-grads. In August 2022, the Biden regime officially unveiled the plan, which aims to forgive up to $20,000 in student debt per person for about 40 million borrowers. At the time, the White House claimed the plan would cost around $24 billion per year, reaching $240 billion over a 10-year period. The Penn Wharton Budget Model, in conjunction with the Committee for a Responsible Federal Budget, set the 10-year cost estimate even higher at anywhere from $330 billion to $500 billion. At the time, Senate Republican Leader Mitch McConnell (R-Ky.,), who is pushing to send tens of billions more both to Ukraine and Israel, called Biden's student loan forgiveness plan "socialism" and a "slap in the face of 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." RINOs like McConnell have no problem socializing Ukraine and Israel, in other words, but when it comes to socializing struggling post-grads who are actual American citizens, this somehow represents a "slap in the face" to America. Some say that Biden is forgiving all these student loans in an attempt to buy votes prior to the election. So far, all of the Republican nominees for president, Donald Trump included, have voiced opposition to the plan. Trump stated that he feels the debt forgiveness program "would have been very unfair to the millions and millions of people who paid their debt through hard work and diligence – very unfair." Globalist RINO Nikki Haley (Nimarata Randhawa) echoed Trump's sentiments, stating that she, too, feels it is unfair for Biden to forgive student loan debt, though she, like McConnell, is eager to continue sending billions to Israel and elsewhere overseas. More related news can be found at DebtBomb.news. Sources for this article include: TheEpochTimes.com NaturalNews.com NaturalNews.com
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