Monday, August 29, 2022

Biden’s Student-Debt Bonfire Is a Classist Message to the Uncredentialed: Screw ’Em; Majority of White House Staffers Eligible for Biden’s Student-Loan ‘Forgiveness’

Jonathan Ernst/Reuters
Biden’s Student-Debt Bonfire Is a Classist Message to the Uncredentialed: Screw ’Em:
Scranton Joe is sending cash from the people he cynically pretends to care about to the people he really cares about.
A few moments before I sat down to write this piece, I opened the door to six guys in blue shirts who had come to my house to replace our air-conditioning units. The Florida weather being what it is, I’ve seen some of these guys work on our air conditioners before, and they’re as skilled and knowledgeable and conscientious and hard-working as you might expect. The company they work for, which is local to North Florida, was started by a guy who chose to forgo college in favor of taking out a small-business loan to strike out on his own. Most of the technicians who work for him didn’t go to college, either. They took a different path. And, well . . . what absolute chumps the president has just made of them for that!
Squirm if you like, but that’s the truth of the matter: As of today, the six air-conditioning technicians in my house are on the hook for college loans that were signed for, spent, and enjoyed by other people. Confirming the measure today, President Biden announced that any American who has both college debt they vowed to repay and an individual yearly income under $125,000 (or a family yearly income under $250,000) will be given up to $20,000 by the Treasury — which means by you, and by me, and by everyone else who pays taxes in America.
Why? Well, that’s the question.
The answer can’t be, “because that’s what the relevant law anticipates or requires.” As of yet, Congress has provided no authorization for the executive branch to arbitrarily write off some of the money that borrowers owe to taxpayers. As of yet, Congress has passed no rules that allow down-on-their-luck presidents to throw money at people for political gain. As of yet, Congress has given no instruction that if the president’s friends might like a little more cash, he can raid the Treasury to give it to them. Certainly, Congress has set up a loan program. But the deal there is rather simple, all told: First you borrow, and then you pay back what you borrowed. There is no mention of “forgiveness” days or of “help” or of rolling Chekhovian jubilees, and by pretending otherwise, President Biden is making a mockery of his oath to uphold the Constitution. --->READ MORE HERE
Elizabeth Frantz/Reuters
Majority of White House Staffers Eligible for Biden’s Student-Loan ‘Forgiveness’:
Many White House staffers will likely be eligible for President Biden’s newly unveiled student-loan “forgiveness” plan, which will transfer up to $10,000 in student debt from individuals making less than $125,000 to the American public.
A White House report that detailed the pay of more than 470 staffers last month showed that roughly half of current White House employees make $90,000 or less per year, with the other half making more than $100,000. More than 300 staffers on the list earn less than the $125,000 threshold.
It is not clear how many White House staffers have student-loan balances. One-in-five White House aides required to file a 2021 financial disclosure reported having student loans, according to disclosures reviewed by Bloomberg News. However, only senior or well-paid staffers have to file the disclosures, the report notes.
At least 30 senior White House staffers have student-loan balances, according to the report. However, the staffers mentioned by name in the report — press secretary Karine Jean-Pierre and deputy director of the National Economic Council Bharat Ramamurti — make a yearly salary that exceeds the $125,000 cut off. --->READ MORE HERE
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