Joe Biden unilaterally announced a massive forgiveness of student loans last month.
An estimated $300 billion of loans up to $10,000 per borrower making under $125,000 per year ($250,000 for couples) as well as up to $20,000 for Pell Grants will be forgiven by the Biden administration citing a new interpretation of the 2003 HEROES Act by Biden admin lawyers that says the secretary of Education has the authority to use national emergencies–specifically the COVID pandemic–to wipe out student debt en masse.
Joe Biden claimed ‘canceling’ student loan debt (AKA transferring the debt to the middle class) won’t have any “meaningful effect on inflation.”
“Independent experts agree that these actions taken together will provide real benefits for families without meaningful effect on inflation,” said Biden.
Even Barack Obama’s former economic advisor Jason Furman says Joe Biden’s policies are reckless.
Joe Biden appeared to stage a text on Saturday in which he congratulated himself on the student loan forgiveness.
Host Kevin Clancy criticized Joe Biden for this cringe-worthy post.
“Is this real life? Thank you Mr. President we’re basically almost dead but hopefully before we turn 100 we’ll have a house,” Clancy tweeted.
Is this real life?
Thank you Mr. President we’re basically almost dead but hopefully before we turn 100 we’ll have a house. ❤️ https://t.co/FaFTIaFi9B
— KFC (@KFCBarstool) September 3, 2022
One user commented, “Why do poor people have the president’s phone number?”
Must have been pre-programmed into the “Obama phone” I was told everyone got in 2009
— JFJ (@fozberry64) September 3, 2022
What a joke administration.