Staff ReportsBiden’s final act in office resembles a magician’s grand finale, complete with disappearing acts—specifically, the disappearing debts of over 150,000 Americans. With a flourish, the president announced another round of “forgiveness” this past Monday, bolstering the lofty total to an astounding $183.6 billion over four years. The debt relief targets those whose schools allegedly “cheated or defrauded” them, individuals with permanent disabilities, and public service workers. It seems the administration is handing out cash like candy at Halloween, all while claiming it’s for the greater good.
Biden’s Education Secretary, Miguel Cardona, dutifully accompanied this announcement, painting a picture of a government swooping in as the heroic savior of students. The narrative goes that Biden’s heroic efforts have saved more than five million borrowing souls from the clutches of student debt. It’s quite the accomplishment if one believes that playing Santa Claus with taxpayer money is a solid strategy for economic management. After all, what could possibly go wrong with showering those who might have made less-than-stellar educational choices with taxpayer-funded bailouts?
In typical political fashion, Biden proclaimed that he has eliminated more student debt than any other president in history. This declaration invites skepticism among those enlightened by the principles of fiscal responsibility. The administration is certainly skilled at dressing up government overreach as benevolence and proposing that it’s not just taking taxpayer dollars, but graciously redistributing them to the unfortunate. After all, isn’t it typical of government to ask hard-working Americans to dig deeper into their pockets to cover the bills of others who perhaps should’ve considered their financial decisions a bit more carefully? It raises the question—who exactly benefits from this debt forgiveness?
Biden Has Bailed Out More Than 5 Million Student Loan Borrowers During His Term
https://t.co/mrQD1x8o26— Townhall.com (@townhallcom) January 13, 2025
Looking ahead, Republicans now have the opportunity to rein in these dubious practices as they reclaim control of Congress and prepare to take the helm again under a Trump administration. In fact, if the Chief Executive from the previous term had his way, the Public Service Loan Forgiveness (PSLF) program would have met its end much sooner. With a detailed strategy laid out in Project 2025, crafted by the Heritage Foundation, the GOP has plans to dismantle PSLF, adjust borrower defense measures, and implement stricter repayment guidelines. All of this sounds like an overdue attempt to restore sanity to a system that seems more interested in handing out freebies than promoting responsible fiscal behavior.
Republicans have already signaled that targeting Biden’s relief measures will be a priority of the new administration. Representative Virginia Foxx from North Carolina has even taken to paper to express her outrage at what she frames as Biden’s misconstruing of laws to push through his student loan agenda. If Biden’s administration saw this as a noble effort, Foxx paints it as reckless governance that threatens to burden a new generation of taxpayers with more debt than they ever signed up for. The jig, as Foxx states, will soon be up for these grandiose claims of relieving student debt. The question remains: how long before the courts also call foul on this reckless spending spree under the guise of relief?
