18.2 C
Houston
Sunday, January 17, 2021

Imagine Having The Left’s Attitude On Student Loans Toward Other Debt

Former Vice President Joe Biden endorsed a long-sought item on the progressive wish-list this week by pledging to sign any bill that cancels student debt.

On Monday, Biden gave his support for a key provision in House Democrats’ $2.2 trillion HEROES Act updated in October to include student loan forgiveness for up to $10,000 in private, nonfederal student loans for the “economically distressed.”

“Immediate $10,000 forgiveness of student loans, helping people up there in real trouble,” Biden said, should come from Congress. “It should be done immediately.”

True to form however, progressives want more.

In September, Sens. Chuck Schumer of New York and Elizabeth Warren of Massachusetts put forward a proposal for individuals to cancel student debt up to $50,000. The senators say the next president doesn’t need congressional approval to take such action, and pointed to a Harvard legal opinion that the decision to cancel student debt rests with the president and the education secretary since the Department of Education provides the loans.

Whether a President Biden would exercise his questionable unilateral authority to circumvent Congress on student loans remains to be seen, but is far from outside the realm of possibility.

Progressives are already branding the student debt issue as a righteous cause under the banner of “social justice,” because everything they endorse today is a social justice issue.

Last year, New York Democratic congresswoman and leader of the socialist “Squad,” Alexandria Ocasio-Cortez, offered the sympathetic story of a young woman who was admitted to the elite institution of her dreams but was unable to attend due to the $250,000 price tag. The problem for Ocasio-Cortez however, wasn’t that the school was prohibitively expensive, but that a large discount in the form of a scholarship wasn’t offered.

“She got into her dream college, but her dream college offered her no scholarships, just loans,” Ocasio-Cortez said on Capitol Hill promoting a bill to have taxpayers pay off U.S. college graduates’ $1.6 billion in outstanding student loans.

In other words, a luxury education was offered at a luxury price, and that’s oppressive, because in the progressive hive mind, everything they can’t afford is a “right” to own at taxpayer expense.

An argument can, and should be made that the cost of higher education today is far too high. For decades the federal government has inflated college costs by doling out endless loans to students pursuing “gender studies” degrees who can’t pay them back who are now are demanding loan “forgiveness.” University campuses will only be further incentivized to jack up tuition costs to build Olympic-size swimming pools and fancy lecture halls while hiring six-figure diversity staff knowing that the bill would ultimately be foisted on the taxpayer with loan “forgiveness.” American colleges have already embarked on creating luxury campuses to lure students paying with loans anyway.

Adopting the leftist attitude on student loans to all other areas of personal debt however, would present an absolute fantasyland.

Housing

Housing has become one of the latest items Democrats have declared a “human right.”

“We have to make sure that housing is being legislated as a human right,” Ocaasio-Cortez said last year.

Failed presidential candidate and former Texas Congressman Robert Francis “Beto” O’Rourke went one step further, adding that individuals also possess the “right” to live close to their place of employment.

“Living close to work shouldn’t be a luxury for the rich,” O’Rourke said on the presidential campaign trail. “It’s a right for everyone.”

The 2008 financial crisis already showcased what can happen when the federal government forces people into homes they can’t afford by doling out unaffordable loans to people with no credit history who ultimately defaulted on the mortgage. If the socialist Democratic Party today was the same party 10 years ago, there’s no doubt many prominent liberals would have just said “cancel it.”

Luxury Cars

A 15-year-old girl went viral after appearing on the Dr. Phil show in 2018 arguing to her mother and the television psychologist that she needed an extravagant Land Rover for her 16th birthday. The price tag? $231,000, but the car was a “need.”

“I need my G-Wagon. There’s no question. I need it,” the girl demanded. “My mom is buying a Bentley for herself, why can’t I get a G-Wagon?” The young girl’s mother discussed earlier on the show how she might need to take the bus to work in order to finance her daughter’s high-priced dream car.

If buying the car were the same as buying a degree, she could plausibly take out a loan for the car from the federal government that she can’t afford and demand that it be cancelled later. After all, this is a social justice issue.

New Boats

For years my dad has dreamed of buying a new fishing boat. The one he has is old, worn down, and can’t run a fast-enough motor to do any serious fishing on the big lakes north of the Canadian border.

The boat he wants clocks in at about $70,000 form Lund.

“Lunds are the Cadillacs of fishing boats,” he says. Unfortunately, the seller never offered a big enough discount, just loans. Taxpayers should just buy it for us anyway.

Grand Vacations

Everyone has a bucket list. My dad wants a fly-in fishing trip to the Arctic Circle, mom wants to go to Germany. I want to flee American lockdowns to Mexico for New Years, but it’d be a lot easier to take a loan from the Department of Vacations and have it be forgiven later by Democratic stimulus.



Read more at Thefederalist

Latest news

Ben Sasse savages GOP for embracing conspiracy theories, targets new GOP rep: ‘Cuckoo for Cocoa Puffs’

Republican Sen. Ben Sasse blasted his own political party in an essay over the weekend, condemning the embrace of conspiracy theories by some in...

Two Years Later, What Did Trump’s China Tariffs Achieve?

By Paul Donovan, Chief Economist at UBSSummaryIt is over two years since US President Trump imposed taxes on US importers of selected Chinese products.Looking...

HA HA: Stelter has a Tech Purge SAD and lib guest pushing censorship accidentally TWISTS the KNIFE

I’m dying here. CNN’s Brian Stelter had guests on this morning to talk about how great it is that so many conservatives are being...

D.C. AG Racine: Trump, Rally Speakers Are ‘Being Reviewed’ for Inciting Violence Charges

District of Columbia Attorney General Karl Racine said Sunday on MSNBC’s “Velshi” that he was looking at charging President Donald Trump and...

Related news

Russell Crowe Is Right, If You Think ‘Master And Commander’ Is Boring, You Need To Grow Up

Peter Weir’s 2003 masterpiece, “Master and Commander,” is a film about manhood, fatherhood, service, and sacrifice. Adapted from three novels in Patrick O’Brian’s epic...

Pelosi Baselessly Claims GOP Reps Are Bringing Guns To Inaugural

House Speaker Nancy Pelosi claims lawmakers might be carrying firearms to this week’s inaugural ceremony as more than 20,000 troops secure the nation’s capital...

March For Life Cancelled As Abortion Extremist Descends On White House

After 46 years, the annual Washington, D.C., March for Life has been cancelled, with leaders citing COVID-19 concerns and the Jan. 6th U.S. capitol...

Worried about the country? Try tending your garden

Voltaire’s Candide was published just four years after the devastating 1759 Lisbon earthquake that...

Trump’s presidency has had some redeeming qualities: Innovation was protected

President Trump’s legacy will be something that is debated for years to come, but...

Union members have a right to see how their money is spent

The holidays just past were a time, as usual, for celebration, family, and finances....

This motor court is still in session

MANNS CHOICE, Pennsylvania — There is a little burst of wonder that road travelers...

Welcome the Uighur cotton ban

We welcome the Trump administration’s announcement that it will block the importation of goods...