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The Biden administration is trying once again to save its tanking poll numbers by writing a blank check to student loan borrowers using Americans’ pocketbooks.
Nearly every pandemic relief program has expired as the economy, which the president repeatedly touts as growing at the fastest pace in four decades, recovers and COVID restrictions move further into the rearview mirror.
Americans are finally returning to their everyday lives, balancing the responsibilities of work and family. Yet, according to the president and Democrats in Congress, it is essential that taxpayers continue to fund the largest and most regressive transfer of wealth to the upper-class in modern history, to the tune of $5 billion every month.
Since March 2020, no federal student loan borrower, regardless of income or ability to work, has been required to make a student loan payment – not a single penny in two years.
These deferments were intended to be a safety net at the height of the pandemic. Two years later, the deferments have turned into a $150 billion spending spree predominately benefiting lawyers, doctors, and bankers who racked up their debt in graduate