OPINION:
President Biden is busily buying votes, err, canceling college student debt because he’s down in the polls, err, concerned about the youth population. He’s got to do something because November beckons and nobody wants to vote for him.
The particular problem with waving a magic wand and pretending it wipes out debt is that it doesn’t — it’s a lie. It also creates a breed of people who are irresponsible, entitled and socialist.
The Education Department just announced it is erasing $7.7 billion in loans to roughly 160,000 borrowers, adding to the $160 billion already canceled for an estimated 5 million Americans. But where does the debt go?
Hello, taxpayer.
An analysis from the Committee for a Responsible Federal Budget estimates that the more Biden’s White House cancels college loan debt, the more burdens are placed on the shoulders of the hard-working American taxpayers — many of whom had to struggle themselves to pay off their own student loans. And if Biden has his full way and say with all the debt he wants to wipe away, the cost to taxpayers could range between $870 billion to $1.4 trillion, the CRFB found.
It’s not so much an erasure of debt as it is a redistribution.
That’s how socialists roll.
“From day one of my administration,” Biden said in a statement about his latest forgiveness plan, “I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity. I will never stop working to cancel student debt — no matter how many times Republican-elected officials try to stop us.”
Or the U.S. Supreme Court, for that matter — which already called out Biden’s initial debt forgiveness plans for students as utterly unconstitutional. Rather than deal with the court, Team Biden adjusted its strategy for loan cancellation. Instead of doing it this way, they did it that way — all aimed at skirting not just the Constitution and courts, but also sound moral governance.
You can’t have a citizenry that thinks the government, i.e., the taxpayers, owes them free rides throughout life and expect the country will remain economically solvent. You can’t have a nation of people who believe they’re entitled to everything from free day care to free college to free, free, free all the time, and expect the nation will thrive on an entrepreneurial, independent-minded, individualist spirit. An entitled attitude; a selfish and greedy disposition; a demanding and angry mindset — these are all the roots of communism, where the government is expected to do all, give all, provide all.
Socialism’s great until Peter runs out of money for Paul to steal.
Then chaos results. Then uprisings begin. Then society breaks.
Then government comes in and stamps the boots of control on the citizens, all in the name of instilling peace and order.
This is what Biden’s economy brings: deception and desperation. Canceling student debt is simply a lie that adds financial burdens to the middle class, thereby breaking the middle class and bringing about a system of rich versus poor — few in between — while simultaneously creating a next generation of entitled whiners.
Biden may scarf a few votes from the thankful college classes who’ve been freed of their debts and responsibilities.
But this is not a recipe for American greatness.
It’s a path of economic and moral bankruptcy.
Even sadder, Democrats know this. They just don’t care.
• Cheryl Chumley can be reached at cchumley@washingtontimes.com or on Twitter, @ckchumley. Listen to her podcast “Bold and Blunt” by clicking HERE. And never miss her column; subscribe to her newsletter and podcast by clicking HERE. Her latest book, “Lockdown: The Socialist Plan To Take Away Your Freedom,” is available by clicking HERE or clicking HERE or CLICKING HERE.
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