You Make a Difference! Our mission and operations are funded entirely by Patriots like you! Please support the 2023 Year-End Campaign now.

August 26, 2022

An Immoral and Terrible Public Policy

The level of resentment in this country is going to rise as those who paid off their debts are forced to cover the costs of those who did not.

Most estimates suggest roughly 85% of Americans will not benefit from President Joe Biden’s plan to forgive $10,000 in student loan debt for those who make less than $125,000. The plan is referred to as a “student loan forgiveness plan,” but the actual policy is to take the private debts of individuals and make the American taxpayer cover them. Eighty-five percent of Americans will not qualify for the plan. Of those who do, the majority are already in the upper middle class.

The upfront cost of this debt transfer from private citizens to the taxpayer will exceed all the inflationary reductions made in the Inflation Reduction Act. It will not only make inflation worse but will inflate college prices by providing a disincentive for colleges to rein in their tuition increases. Former President Barack Obama’s own economic adviser noted on social media that the plan will increase inflation by at least a quarter percent. The University of Pennsylvania’s Wharton School estimates the plan will cost each taxpayer in America $2,100 and fully cost $300 billion.

Progressives say taxpayers are not actually going to owe the money. Actually, taxpayers already paid the money to colleges on behalf of college students. Those students, in turn, contractually, voluntarily obligated themselves to pay the taxpayers back with interest. Forgiving that money means the taxpayers will not see a return on their advance. The government will have to cover that deficit by raising taxes, cutting government services or adding to the national debt. The latter will be the easy way out. That will increase debt service payments and reduce services from government over time, hurting the poor.

It is profoundly immoral and will exacerbate future student debt problems and create deep moral hazards as colleges will have an incentive to get students into further debt for further bailouts. There is no incentive for colleges to cut costs now. After the Inflation Reduction Act gave taxpayers a $7,500 tax credit for electric vehicles, Ford Motor Co. raised the price of the new electric F-150 pickup truck by roughly that amount. Other automakers followed suit. Now colleges will do the same.

Beyond that, white students tend to have lower student loan balances by virtue of having more financially able families to help cover college costs. By forgiving $10,000, Biden will actually be expanding income inequality between races by putting white kids at a significant advantage over black kids who will be left with far higher remaining debt balances.

Additionally, people who worked hard to meet their private debt obligations will be disincentivized from that hard work. Why put in the time and effort when the government bails out the irresponsible? We will, in fact, be bailing out the irresponsible and sending the IRS to audit the responsible.

Progressive theologians claim there is nothing more Christian than forgiving debts but outsourcing Christian charity to government is immoral. It is particularly immoral when the 50-year-old electrician who makes $75,000 a year without a college degree is asked to bail out the 25-year-old lawyer making $100,000 a year.

Finally, beyond the non-college-degreed, there is the class of citizen who already paid off their debts. They scrimped and saved. They cut back. They met their obligations. The level of resentment in this country is going to rise as those who paid off their debts are forced to cover the costs of those who did not.

It is profoundly immoral to transfer the privately incurred debts of some onto the backs of all taxpayers, most of whom put in the work to pay off their own debts. The only rationale for this public policy is to reward rich, white, college-educated Americans for moving into the Democratic Party.

This policy will escalate the trend of nonwhite working-class voters moving to the GOP as they’ll now be shouldering the debts of the white kids who got gender study degrees and then were shocked they could not get a job. This policy will amplify racial income inequality in the country. This policy will drive up inflation and college tuition. This policy is wrong, and it is immoral.


Start a conversation using these share links:

Who We Are

The Patriot Post is a highly acclaimed weekday digest of news analysis, policy and opinion written from the heartland — as opposed to the MSM’s ubiquitous Beltway echo chambers — for grassroots leaders nationwide. More

What We Offer

On the Web

We provide solid conservative perspective on the most important issues, including analysis, opinion columns, headline summaries, memes, cartoons and much more.

Via Email

Choose our full-length Digest or our quick-reading Snapshot for a summary of important news. We also offer Cartoons & Memes on Monday and Alexander’s column on Wednesday.

Our Mission

The Patriot Post is steadfast in our mission to extend the endowment of Liberty to the next generation by advocating for individual rights and responsibilities, supporting the restoration of constitutional limits on government and the judiciary, and promoting free enterprise, national defense and traditional American values. We are a rock-solid conservative touchstone for the expanding ranks of grassroots Americans Patriots from all walks of life. Our mission and operation budgets are not financed by any political or special interest groups, and to protect our editorial integrity, we accept no advertising. We are sustained solely by you. Please support The Patriot Fund today!

The Patriot Post and Patriot Foundation Trust, in keeping with our Military Mission of Service to our uniformed service members and veterans, are proud to support and promote the National Medal of Honor Heritage Center, the Congressional Medal of Honor Society, both the Honoring the Sacrifice and Warrior Freedom Service Dogs aiding wounded veterans, the National Veterans Entrepreneurship Program, the Folds of Honor outreach, and Officer Christian Fellowship, the Air University Foundation, and Naval War College Foundation, and the Naval Aviation Museum Foundation. "Greater love has no one than this, to lay down one's life for his friends." (John 15:13)


“Our cause is noble; it is the cause of mankind!” —George Washington

Please join us in prayer for our nation — that righteous leaders would rise and prevail and we would be united as Americans. Pray also for the protection of our Military Patriots, Veterans, First Responders, and their families. Please lift up your Patriot team and our mission to support and defend our Republic's Founding Principle of Liberty, that the fires of freedom would be ignited in the hearts and minds of our countrymen.

The Patriot Post is protected speech, as enumerated in the First Amendment and enforced by the Second Amendment of the Constitution of the United States of America, in accordance with the endowed and unalienable Rights of All Mankind.

Copyright © 2023 The Patriot Post. All Rights Reserved.

The Patriot Post does not support Internet Explorer. We recommend installing the latest version of Microsoft Edge, Mozilla Firefox, or Google Chrome.