Anti-Inflation Joe Blows Off Student Debt

With legality of Biden’s $300 billion student loan forgiveness plan by executive fiat doubtful, even NAACP sees thru & is disgusted by the vote pandering gimmick; so are economists at its “Anti-Inflation Act” hypocrisy.

The details expected to be announced Wednesday afternoon aren’t as important as its tacit acknowledgement that the governmental takeover of the student loan program started by the Obama Administration is out of control, an abject failure. For the record, Joe apparently decided without the consent of Congress to wipe out $10k-$20k of debt for families making under $250,000 a year; moreover, the pandemic pause on much of the remaining student loan payments (now totaling $1.75 trillion) was extended for the umpteenth time until end of the year. But, said NAACP Pres Derrick Johnson: “This is not how you treat Black voters who turned out in record numbers and provided 90% of their vote to once again save democracy in 2020.” The problem for many Blacks: Studies show the vast majority of those benefited by Joe’s EO … are WEALTHY WHITES.

As Fox noted, the timing of the expected EO is also particularly curious since the Dems have been crowing about the recent passage of their $730B Anti-Inflation Act that the CBO says won’t curb inflation any time soon and after trillions have been spent on pandemic subsidies pushing the national debt over the $30 trillion mark. It’s almost as if Joe & his handlers do not know record high inflation is still plaguing the nation’s poorest citizens; or, that businesses are increasingly fearing a deep recession as the Federal Reserve Board is expected to keep raising interest rate … (drum roll) … to fight inflation.

Davd Soul