Joe Biden announced on Wednesday evening the continuation of his administration’s efforts to bribe Millennials with taxpayer money, this time to the tune of $1.2 billion.
Michael Stratford reports for Politico:
President Joe Biden on Wednesday will announce $1.2 billion of student debt relief for nearly 153,000 borrowers — and he’s sending emails to make sure they know whom to thank for it.
new loan repayment program, initially borrowed $12,000 or less and have been repaying their debt for at least 10 years.
Biden will tout the relief and his administration’s broader efforts to cancel student loan debt for tens of millions of Americans during remarks in Los Angeles on Wednesday.
The White House said the event will include some of the borrowers who will benefit from the announcement as well as those who’ve previously had their debts canceled by Biden.
This repayment scheme — or, rather, repayment-avoidance scheme — is part of the Biden admin’s SAVE plan. Before the modification, borrowers would have to make payments for somewhere between 20 and 25 years before qualifying for absolution. Now, the requirement is ten years, and those under a certain threshold will have to “pay” $0 per month to qualify. As Politico notes: “About 4.3 million of those borrowers have income that is low enough to quality [sic] them for a $0 monthly payment.”
Suffice it to say, this program is despicable self-service from the executive branch as Biden looks to shore up support from younger voters who despise him as much for his ostensible support for Israel as they do for his earlier failed attempts to pay off their loans from the pockets of whoever is standing closest to him at the moment.
As Charlie wrote in 2022, repaying the loans of college-goers would “pit American against American, increase partisan resentments, further damage our already debilitated lawmaking process, and haunt the reputation and fortune of the arthritic Democratic Party for many years to come.” But Biden doesn’t care about that, being one foot out the door while trying to keep the other one in the Oval Office. A president in as weak a position as Biden’s will bend what he feels he must to deliver on campaign promises, even if it damages the social and constitutional fabric.
What can be done about it is an open question. A House attempt to stymie the SAVE plan failed in the Senate last year, and taxpayers do not appear to have standing to appear before the Supreme Court about the matter — certainly grounds for opting not to tip the liberal-arts-educated barista the next time you’re at Starbucks.