Senate minority leader Chuck Schumer doubled down on his call for Joe Biden, if God forbid he gets away with stealing the 2020 presidential election, to skirt around the Congress and cancel billions of dollars in student loan debt on his first day in office with the stroke of a pen. In other words, he wants YOU to pay for it. Yes YOU. If you’re reading this and you pay income taxes, he wants YOU to pay for other people’s student loans, people you don’t know.
Whereas this swamp rat Schumer is totally serious, you know he’s coming out and pushing this issue right now to get people with student loans, and people who are sympathetic to people who are paying off their student loans, to support the two Democrats who are running in the Georgia runoff elections. He is appealing to the lowest common denominator among Americans who feel that everything should be free.
On Monday, Schumer spoke to reporters from his Manhattan office.
“We have come to the conclusion that President Biden can undo this debt, can forgive $50,000 of debt the first day he becomes president,” Schumer said He added, “You don’t need Congress. All you need is the flick of a pen.”
The enormity of the unfairness of this should be patently obvious. Chuck Schumer is asking – nay – is demanding that the American taxpayers, many of whom like me may have already paid off their own student loans, to pay off student loan debt for other people who signed on the same line of their student loan forms that everyone who already paid off their loans did.
This dirt bag senator from New York has in the past nudged Joe Biden to move on a plan he worked on with the not Native American Senator Elizabeth Warren (D-MA) that gives a president executive authority to immediately cancel up to $50,000 of student debt per borrower. Wasn’t Warren’s big thing about consumer protection? So, now she’s for screwing the general public to help deadbeats who don’t want to pay their loans?
I think every person who accepts the $50,000 payoff should immediately get a bad credit rating that should stay with them until the determinate time that they would have paid off their loans had they not irresponsibly forced the payments onto their neighbors.
Biden himself called for dumping $10,000 in student loan debt as part of a coronavirus relief package. Under his dopey idea, borrowers who don’t want to pay their own debts would immediately have $10,000 forgiven from their student loans. Again, someone is going to have to pay that money, and that someone is YOU!
Schumer once estimated that his proposal would forgive over 75 percent of student loan borrowers and partial forgiveness for more than 95 percent. He did not mention how much it will cost American taxpayers who did not have student loans.
“This debt is a huge burden on the backs of our students, standing in the way of them and their economy, and it stays with them for a very long time,” he said Monday.
I would have to expect this kind of lunacy legislation would be challenged in court, and I don’t believe it would survive the challenge. The federal government is not allowed for force one citizen to pay the debts of another. When you force someone’s labor to benefit someone else, that’s called slavery and that was outlawed over a hundred years ago. Further, if a corporate CEO created a program that forced current customers to pay for the the new program they never signed up for, that CEO would rightfully be doing the perp walk. How is what Schumer wants to do any different?
Rich is syndicated opinion columnist for David Harris Jr. and owner of Maga-Chat.com. He writes about politics, culture, liberty and faith.
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If Chuck/Biden could make a jubilee happen, I would vote for them. Debt forgiveness is Biblical and it might save our country from this debt-based Ponzi scheme that is nearing collapse.
Students take out loans for education they are depending on for a financial future. If their education fails them then they made the wrong choices or they didn’t apply themselves.
I chose not to borrow money for a college education, I served an apprenticeship in a trade. I made a good living without student loans.
As someone who is paying back their loans currently (without argument) I don’t agree with this decision at all. I knew what I was agreeing to when I signed on the dotted line. I took advantage of the 0% interest that was put in place this year and luckily I was able to put MORE money towards the principal and lower them. I’d be okay with another year or so with no interest but I think abolishing the amount of debt they’re discussing is NOT the way to go.
Unless they’re going to change the law even more, aren’t forgiven loans INCOME? Won’t these people have to oy income tax on the forgiven amounts?