After Supreme Court rejects biden regime plan to cancel student loan debt...new plan

Before the 2022 midterm election the cunning Democrats who pull Porridgebrain's strings announced a faaaabulous vote-winning policy: The regime would "forgive student loans" for millions of borrowers...at a cost to taxpayers estimated at $400 billion.

The unspoken quid-pro-quo was "If you vote Democrat."

Also cunningly never mentioned by a single Mainstream Media outlet was that this faaabulous plan would force taxpayers who DIDN'T go to college to repay billions of dollars borrowed by those who did.  And some of you may recall the estimated cost of this bribe was $400 billion.

Middle-class working voter:  "Whoa...what??  Y'say biden isn't just gonna wave his bullshit magic wand and make the banks say "Hey, we just marked you loan as paid"?  That instead, tax dollars paid by my parents and me would be used to repay $400 billion in student loans, including Hahvahd grads?"
  "SURELY that's not true, cuz if it was, the Media would surely have mentioned it, since it's so clearly, outrageously unfair, eh?"

But it was true.  And the Media totally ignored that aspect, since it WAS so obviously, blatantly unfair that if voters realized it, people who didn't go to college would likely vote against the Democrats in the midterm election.  But ooohh, the offer was SO attractive to voters with loan balances, eh?  Which, of course, was the entire point.

As it turned out, someone sued, and the Supreme Court said brandon didn't have the Constitutional authority to do dat.  So voters who knew the truth about this socialist outrage thought the horribly unfair proposal had been defeated.

Not at all:  Being slapped down by the Supreme Court means nothing to communists, leftists, socialists and Democrats.  The sons of bitches simply try another avenue to get what they want.  If that fails they try another, and another, until they win.  It's like it's in their DNA.  And Dem voters think that's totally admirable:  If you want a certain thing to happen, keep fighting until you get your way, regardless of some dumb court, eh?

So about a week after the Supreme Court told the biden regime it couldn't do dat, the regime announced a more limited program that used a clause in the actual law that allowed the preznit to "forgive" loans in certain cases deemed "hardship."  And as you already guessed, the definition of "hardship" is totally flexible--meaning it can be expanded to any desired degree by cunning lawyers.

The cost of this new program was virtually the same as the $400 BILLION cost for the first one, even though fewer people were eligible.  And because it used an existing clause in the law, the Court didn't knock it down.

Amazing, eh?

But that wasn't good enough for the cunning Democrats, so yesterday the biden regime announced what the Mainstream Media praised as "a sweeping new student loan forgiveness plan that would provide relief for more than 30 million borrowers."

30 million voters.  "Sweeping."  You bet.

Leftist rag Axios fellates the regime by writing that after the Supreme Court rejected the regime's first plan,

Since then the administration has found ways to deliver relief to millions of borrowers by using its existing authority, [avoiding] the need for Congressional or court approval.

So there's the brag that the regime wouldn't take the Court's no for an answer.  And now under the cunning new plan the regime would "cancel" (says Axios...word very cunningly chosen to make voters think the banks will eat the loan) up to $20,000 of a borrower's accrued interest, regardless of income.

Ahhh, so this time the regime does NOT propose to force you and your parents to repay the total amount borrowed by a student who attended Hahvahd (or other school), but just the interest on those loans.  Ahh!  And only up to $20,000.  SO...now totally fair, eh?

And this new, "mo' fair" policy will have you pay that $20,000 in interest for Hahvahd grads making half a million a year, who could easily afford to make their loan payments, but would much rather buy that new Mercedes, eh?

Absolutely faaabulous, and FAIR too, deplorables!

Wait, it gets even better--or worse, depending on if you're getting the benefit or having to pay for it:  Did Axios say the maximum benefit in "interest payments" you'd be forced to make would be limited to $20,000?  Read the article, cuz that's exactly what they said.  But then two 'grafs later they say

Single people making less than $120,000 or couples making less than $240,000 — enrolled in an income-driven repayment plan would have all of their interest forgiven.

Wait...didn't the leftist rag just say "only up to $20,000?  Yes, they did.  But don't worry about it.  They'd cheerfully lie about the sun shining if it helped the regime win votes.  And here they wanted to make it appear that the benefit would be limited to "just $20,000," to avoid losing working-class voters because of the clear unfairness.

Here's another jewel: The earlier faaabulous plans required voter/borrowers to actually apply for the huge payday--possibly of way more than $20,000.  But the faaabulous NEW regime plan doesn't even require borrowers to apply.  The regime will do it for the busy borrower/voter!

No application will be required to receive the relief [said the White House] .
    If the plan is implemented as proposed, the Biden [regime] estimates it will "fully eliminate" accrued interest on 23 million borrowers' loans, and would wipe out the entire amount of debt owed by 4 million Americans, and would pay off at least $5,000 of interest for more than 10 million additional borrowers.

The White House statement also said who was eligible.  Take a look: 

 Under the new plan four sets of borrowers are automatically eligible for relief:
   * borrowers whose balances are larger than the amount they originally borrowed;
   * anyone who has been paying off a student loan for over 20 years;
   * borrowers who are eligible for relief but haven't applied; and
   * borrowers "whose college or program didn't deliver sufficient financial value."

Wait...what's that last one again?  You mean if a Wellesley grad who majored in Wimmens' Studies couldn't get a job paying $250,000 a year, she'd be able to get her ENTIRE loan paid off by your parents and you?  Sure as hell looks like it.  But maybe just her entire interest amount--in which case not a big deal, eh?

Fuck Democrat politicians, and the entire biden regime.  This is how a nation accumulates a $34 TRILLION debt...which is now rising by one TRILLION dollars every 100 days.

Seriously.

Source: pro-biden rag Axios

https://www.axios.com/2024/04/08/student-loan-forgiveness-biden-new-plan