Washington, D.C. – President Biden didn’t “forgive” $10,000 in student debt. He transferred the burden of paying for $300 billion in voluntarily accepted loans to the working class of America who either: never went to college, never took student debt they couldn’t afford, worked to pay off their student loans, or will take out student loans in the future.
Additionally, reports show that this move will actually favor the wealthy.
Do those who fought tooth and nail to pay off their debt get a dime? Nope. Meanwhile, absolutely nothing was done to address the underlying cost of a college education. In fact, not only will these $10,000 payments not lower costs, they will likely lead to college tuition increasing!
Oh, and that supposed deficit reduction in the faux “Inflation Reduction Act”? All gone.
The American people, especially those who have paid off their debts, are livid. Many Democrats were quick to distance themselves from the plan, but vulnerable Democrat Senators Maggie Hassan, Raphael Warnock, Mark Kelly, and Michael Bennet have embraced the plan to foist other people’s debt on the working class.
Maybe they think this is a sneaky way of paying for votes? Maybe they don’t understand how loans work or are too afraid to take on the big public universities in their states? Either way, we don’t believe the people of New Hampshire, Georgia, Arizona, and Colorado are okay with this extremely unjust and inequitable decision by President Biden.
Statement from NRSC Spokesman T.W. Arrighi: “Millions upon millions of Americans reacted to yesterday’s news with horror. After years of fighting to pay off their student loan debts, President Biden used executive action to pass the debt burden of others onto their shoulders. He did nothing to address the actual problem and never gave a dime to those who honored the deals they made. Student debt is a massive problem but cash giveaways less than three months before an election during a recession stinks to high heaven. The working stiffs of America will not forgive him.”
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