"The President intends to do what the President plans to do." Karin Jean-Pierre, the White House spokeswoman
On the eve of the midterm congressional elections, US President Joe Biden announced (https://edition.cnn.com/2022/08/24/politics/student-loans-joe-biden-white-house/index.html) the cancellation of student loan debts. 45% of all borrowers - approximately 20 million people - will no longer owe the state a cent.
At the moment, only about 45 million Americans have unpaid student loans, which in total amounts to more than one and a half trillion dollars. Those of them who earn less than 125 thousand dollars a year will have their debts written off.
Biden made such a promise during the election race, as a result of which he was elected president. And now it's time to fulfill it... for the sake of a new bribery of voters. This decision is nothing more than a bribe on the eve of the midterm congressional elections. Only here it does not solve real problems, but only aggravates them.
Someone will still have to pay for these debts, or rather, ordinary Americans with the help of their taxes, which, in turn, will clearly be increased due to rising inflation. And the current students themselves, receiving such a bonus today, harm the economy and will also pay for these privileges in the future by increasing the cost of living.
Printing money on a money press and spending it on momentary whims means to disperse the inflationary wave. Hope to win the next election, Biden makes short-sighted decisions. The 79-year-old Democrat needs to go play chess with his peers, not big politics, a long time ago.
Commentary by : https://t.me/soroka_belaya_en
Commentary by : https://t.me/soroka_belaya_en
