June 24, 2024

Biden’s Student Loan Cancellation Poster Boy

A Democrat congressman’s staffer demonstrates the absolute unfairness of Joe Biden’s student loan “forgiveness” gambit.

Ben Kamens has become the perfect poster boy for Joe Biden’s student loan “forgiveness” scheme, which is nothing more than a naked political ploy to buy votes by redistributing wealth. “Just got a call to let me know my student debt has been canceled,” began a now-hidden X post from Kamens, who’s the communications director for House Democrat Marcy Kaptur of Ohio. “This is why elections matter. Thanks Joe Biden.”

Thanks indeed. The post includes a picture of a letter Kamens received from the company servicing his student loans. The letter reads in part, “Congratulations! The Biden-Harris administration has forgiven your federal student loan(s) listed below with Nelnet in full.” The loans totaled $8,250, an amount that Kamens, who probably does quite well for himself, should have easily paid off over the 14 years since he took on the loans.

Meanwhile, Kamens’s social media history shows him enjoying the finer things in life, such as lavish meals and cocktails.

The exorbitant cost of Biden’s vote-buying scheme, which totals $145 billion to date, is a major factor in the Congressional Budget Office’s decision to readjust its debt forecast for Fiscal Year 2024. It now estimates a debt of $1.9 trillion, up from its original forecast of $1.5 trillion.

As we’ve repeatedly observed, Biden didn’t “forgive” anyone’s debt. Rather, he unilaterally transferred it from the actual borrowers to all American taxpayers, many of whom either never took out student loans or have long since paid them off.

It’s a bad look for Biden, which is why South Carolina Democrat Representative Jim Clyburn recently attempted to gaslight the American public, ridiculously claiming that nobody would be paying for this debt cancellation.

In an interview with Fox News’s Neil Cavuto, Clyburn claimed, “What has happened in the last four years on student debt, for instance? Joe Biden has eliminated … over $60 billion for people saddled with student loan debt.” That prompted Cavuto to ask, “Who’s paying for that, congressman?” After playing dumb for a moment, Clyburn then falsely asserted, “Nobody is paying for that relief! This is interest! This is not the principal. The principal was paid back a long, long time ago.”

It looks like someone needs a remedial class in basic marketplace economics.

The main reason Americans have been burdened with sustained high inflation is that the federal government is spending money like drunken sailors. Far from reining in that spending, Biden has only continued to press the pedal to the metal, all for political gains.

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