Fake President Biden announces the first step in what we can hope is a path to forgiving all student debt and banning all student loans.
The president will forgive debts of up to $20,000 dollars for students who went to college on Pell grants and $10,000 for students who did not receive Pell grants. Debt forgiveness only applies to individuals earning less than $125,000 or couples filing joint earnings of $250,000.
Don’t make the mistake of defending the wrong thing because bad or stupid people happen, for whatever reason, to be doing the right thing for a change. Student debt is a scam, it should never have been legal in the first place, and the law preventing student debt from being discharged.
Make no mistake: if you’re on the side of the bankers and the Boomers and the universities here, you are absolutely and without question choosing the side of evil. And there is no amount of solipsistic argumentum ad personalem is going to make your argument any more convincing or moral, or any less economically ignorant and churlish.
Don’t forget the Parable of the Unmerciful Servant either.
Then the master called the servant in. ‘You wicked servant,’ he said, ‘I canceled all that debt of yours because you begged me to. Shouldn’t you have had mercy on your fellow servant just as I had on you?’ In anger his master handed him over to the jailers to be tortured, until he should pay back all he owed.
And FFS, discharging debt is not inflationary, so don’t even think about trying to cite that sort of media ignorance at anyone. In a credit money economy, debt-forgiveness is literally deflationary.
UPDATE: Stonetoss shows how to silence the Boomercon critics.