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‘Desperate’ Biden pushes $1.2 billion student loan bailout: essay

President Joe Biden is “desperate” heading into the 2024 election according to a conservative commentator.

It shows in his latest student loan bailout plan.

“On February 21, Biden announced that he was canceling $1.2 billion in federal student loans for 153,000 borrowers,” Matthew Continetti wrote at The Washington Free Beacon. “That’s on top of more than $130 billion in student debt that he has canceled to date.”

It is separate from a new, larger scale bailout in the works, too.

Continetti wrote the plan is a “debt transfer” “forgiving certain borrowers of their duty to pay—and placing the burden on the American taxpayer, who is already on the hook for $34 trillion in federal debt.”

The new “SAVE Plan” is also “constitutionally dubious” and “vulnerable to legal challenge.”

It also looks like a campaign ploy, according to Continetti.

He wrote:

The student debt relief he promised four years ago is meant to appease a key constituency. It’s a textbook example of old-school, New Deal, Democratic “spend and spend, tax and tax, and elect and elect” campaigns. Concentrate benefits to college graduates. Disperse costs among the general electorate. And reap the profit.

Which is why beneficiaries will be informed of their good luck through an email carrying the president’s signature. Just so they know whom to thank.

The plan “spurs resentment among voters who have paid off their loans or who have not attended college,” Continetti wrote. At the same time, the Biden administration is stopping new gas projects that would create blue-collar jobs.

“Why the disconnect between Biden’s acts and voters’ attitudes? Because the electorate has judged him to be incapable of serving a second term,” Continetti wrote. “And that judgment has put Biden in the worrying position of having to placate his left-wing base, while praying that independent voters will turn against Trump and MAGA.”

“No wonder he’s desperate.”

Read the full essay

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