Nothing celebrates the doggedness of American workers like transferring self-incurred debts from college-educated workers to the backs of those who elected to forgo college.
But that’s the Labor Day message that the Biden administration delivered to American workers with his loan forgiveness plan. It is, at best, a political gimmick, and at worst, a monetary redistribution plan that steals from lower-income workers to benefit their wealthier counterparts. No wonder President Joe Biden is banging around Pennsylvania demonizing those who disagree with him as threats to democracy — he’s clearly hoping no one will pay attention to his disastrous ideas.
Gone are the days of celebrating the American spirit — one rooted in a tenacious drive to create the life you want through hard work. No longer do our elected officials care to celebrate generations of workers who came before us and paved the way for the life we have today.
Instead, they choose to defile that spirit and that legacy with an estimated $500 billion bailout to consenting adults who willingly accepted loans. Make no mistake: Despite assertions to the contrary, this bailout will ultimately end up being paid for by taxpayers. Giving out $10,000 checks to college degree-holders — some of whom are six-figure earners — will come at the expense of skilled trade workers and those who worked hard to pay off their loans.
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