Millions of college graduates spent years budgeting, financial planning and making sacrifices to pay off their student loan debts. Then, Biden decided to step on their hard work and personal responsibility to bail out the wealthy. Despite claiming that “the pandemic is over,” Joe Biden is using COVID-19 emergency powers to hit taxpayers with a bill to absolve the loans of ivy league graduates. Not only is the Biden Bailout a fundamentally unfair scheme, but it also adds fuel to the economic dumpster fire that Biden created and draws attention to the elitist nature of the Democrat Party that continues to slight the American working class.
In keeping with the expensive Biden presidency, the Biden Bailout comes with a hefty price tag. Its price could exceed $1 trillion, which, in true democrat form, will not fall on the shoulders of the wealthy; in fact, the top 60% of earners will benefit the most. It could saddle the average taxpayer with a more than $2,000 dollar burden. It is a regressive tax that sticks taxpayers with others’ college debt. The non-partisan Committee for a Responsible Federal Budget calls Biden’s massive giveaway “gallingly reckless” as college graduates everywhere are seeing their financial sacrifice rendered meaningless by Joe Biden. The Biden Bailout is not only unfair, but also serves another blow to the U.S. economy under Democrat watch.
Joe Biden created a recession with the recovery he inherited. Now, he’s looking to increase the deficit by hundreds of billions. Biden is responsible for an inflation rate 6 times higher than when he took office, skyrocketing prices and a recession by his administration’s very own standards. Now, Democrats are prioritizing a bailout to hike taxes and worsen inflation. Bidenflation has already cost Floridians thousands and thousands of dollars, but Biden and Democrats have only strengthened their resolve to punish hardworking Americans.
Vulnerable Democrats rushing to Biden’s defense makes it clear that they do not care about those getting screwed over yet again by Joe Biden and Democrats. As they laugh in the face of Americans suffering under the weight of their stifling economic agenda, they’re trying to sell their next taxpayer-subsidized handout to the wealthy. The White House is advertising this as a way to help the poor, but a look at the facts shows that the Biden Bailout is simply a transfer of power from lower-income earners to higher-income earners. Without missing a beat, Democrats continue to prove their out-of-touch bonafides by passing the buck yet again to those who simply cannot spare one in the Joe Biden economy.
For me, the worst part of the Biden Bailout is that Democrats are knowingly punishing the hard work of so many with even more financial insecurity. Joe Biden himself expressed reluctance over bailing out Ivy League graduates at the expense of taxpayers. My openly socialist opponent, Maxwell Frost, is fully supportive of a Biden agenda that knowingly caters to the wealthy at the expense of hardworking Americans. This November, Floridians have a chance to rebuke Biden’s elitist agenda and the Florida Democrats who wholeheartedly support it.
Calvin Wimbish is a retired U.S. Army Colonel running as the Republican candidate for Florida’s 10th Congressional District.