White House admits Bidenflation is ‘literally’ crushing people
By
Washington Examiner
May 26, 2024 1:00 am
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President Joe Biden’s billion-dollar debt bailouts are inherently unfair and divisive, so much so that even his allies in the White House press corps are beginning to question their propriety.
On Wednesday, Biden’s White House announced another round of student debt forgiveness. This time, Biden announced a $7.7 billion transfer to taxpayers of debt incurred by 160,500 borrowers who are “public service workers like teachers [and] nurses.” In all, Biden has now erased $167 billion in student student debt for 4.75 million people.
While the lucky recipients now face fewer financial obligations, those obligations do not magically disappear when our president snaps his fingers. The money borrowed by those students already went to colleges across the country. The colleges already collected that money, and they’re not giving it back. The federal government has to borrow money to pay back the debts and release students from the obligations they incurred voluntarily. This increases the national debt and means the rest of us will pick up the tab for the interest payments and principal on Biden’s supposed generosity.
Biden’s student bailouts are nothing more than a transfer of wealth from those who already paid their debts, did not borrow, or did not go to college, to those college graduates favored by Biden. This is not Robin Hood robbing the rich to help the poor, it is robbing us all to pay for a privileged few. It is not fair, it is immoral, and NBC’s Peter Alexander wanted an answer.
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https://www.washingtonexaminer.com/opinion/editorials/3016727/white-house-admits-bidenflation-crushing-people/
