Biden’s Marxist Student Loan Election Gambit is Bad for America

Joe Biden just extracted from taxpayers a campaign contribution for Democrats running for office this fall. It comes in the form of cancellations in whole or in part of some Americans’ student loan debt, and is expected to cost over $300 billion.

Speaker Nancy Pelosi says only Congress can do that, and courts presumably will have their say. But the economic damage will have already been done.

So will the harm to our society. Millions of us who either took out such loans for expensive college educations and paid them back, or simply did not attend college, will be footing the bill, in a classic, Marxist involuntary redistribution of wealth.

“Free stuff” from government for favored groups – especially at election time – is hardly unprecedented. But this gambit’s inherent unfairness and financial burdens on others will feed animosities and further undermine our nation.

 

This is Frank Gaffney.