WASHINGTON, D.C. (FLV) – Every year, millions of high school students decide whether or not to go to college based on their career goals and financial circumstances. Those who attended a university that didn’t award them sufficient financial aid or scholarship money knew full well that they’d have to make sacrifices.
Many of those same college students made it to the finish line, paid off their loans and felt the cloud of debt hanging over their head for years, evaporate. Then, with just one announcement, Joe Biden did for the wealthy what took many Americans years of financial planning to do for themselves.
This Biden Bailout not only adds fuel to the economic dumpster fire that Biden created, it also draws attention to the elitist nature of the Democrat Party that continues to slight the American working class.
Americans are keenly aware of the fact that “there is no such thing as a free lunch” and that beyond the seemingly altruistic absolvement of loans, there exists a hefty price tag that could exceed $1 trillion. In fact, the top 60% of earners will benefit the most, while costing the average taxpayer more than $2,000.
This Biden Bailout is a regressive tax that sticks taxpayers with others’ college debt. Asking hard-working Americans to foot the bill for the wealthy is already unjust on its face, but when you consider the economic conditions Biden has already subjected Americans to, it becomes that much more unreasonable.
Biden inherited a recovery, created a recession and then hiked taxes on the middle class. Now, he’s worsening inflation and throwing “gasoline on inflationary fire,” as Obama alum Jason Furman put it. His disastrous policies have already led to inflation hovering around a 40-year high and gas prices that are well above when Biden took office. Now, he’s throwing in an “Inflation Expansion Act” and an “inflation-boosting” scheme into the mix, making it even harder for Americans to get by.
Amidst the unsavory reviews rolling in from economists about the detrimental impacts this will have on the economy came vulnerable Democrats rushing to Biden’s defense. As they praise the President, they run from the truth of what the Biden Bailout means for the American people: hiked taxes and worsening inflation while their family budgets are already hurting from Democrats’ irresponsible spending.
It is not just the college student who worked his or her way through college, balancing a full-time job with academics and extracurriculars. It’s also the mechanic or the plumber who never went to college and is getting stuck with the bill for someone else’s loans. Make no mistake: this bailout passes the buck to those who cannot spare one in the Joe Biden economy.
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