Democrats lobby Biden to write off debt for affluent borrowers
The editorial board of the Wall Street Journal –
The Biden Presidency is quickly turning into Barack Obama’s third term, only more liberal. Consider the Democrats calling on President Biden to use the pandemic to cancel $50,000 in student debt per borrower. What they want everyone to forget is that in 2010 they used the last recession to justify a federal takeover of student loans that have since more than doubled to $1.6 trillion. Now they’re using the pandemic to justify loan write-offs they said would never happen.
The great student loan scam began in 2010 when Democrats used budget “savings” from ending the federal guaranteed-loan program to pay for ObamaCare. “By cutting out the middleman, we’ll save American taxpayers $68 billion in the coming years,” Mr. Obama declared. Where were the media fact-checkers then?