What can we say about Biden’s bailout of student loans?
1. It is inflationary. It is spending billions of dollars that we do not have. This will be compensated by printing money based on nothing, and raising taxes from only those who can ultimately pay taxes… those who actually produce something.
2. It is illegal. Even Nancy Pelosi admitted as much when it was to her benefit to oppose such a plan. The President is not a dictator. Biden has no constitutional authority to transfer hundreds of billions from the pockets of average Americans to those most likely to vote for him and his proposals.
3. It is corrupt. This is a classic case of buying votes by raiding the treasury. The money goes to students who are most likely to vote for Biden and to the universities that gave lots of money and support to elect Biden. You will notice that the plan does not require the universities to give any of the money back.
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4. It perpetuates a scam. I have spent my entire adult life inside universities. Outsiders believe the problems with schools are the professors. That is only partially true. The major problem is the professional bureaucrats who have…
