Al Ritter
Imagine if you will; a society where you have no
responsibility to repay a loan. When banks made student loans in the past, usually
the parents had to cosign that loan because the students had no credit history.
Either the parents used their house as collateral or the loan was based on a
much higher personal interest rate (sometimes as high as 18%). In plain English
this showed the student that there would be serious consequences for
non-payments of student loans.
Teaching responsibility to our children is a major
part of parenting, but now the government has taken that out of our hands.
During his term Barack Obama took the student loan
business out of the hands of the banks and put it in the hands of the
government. Since its inception, the student loan business by the government
was never intended to make money. Since the beginning government never charged
more that 5% interest.
IMO Barack Obama had intended from the beginning to do
student loan debt forgiveness, but Hillary Clinton’s defeat in 2016 threw a
monkey wrench into his plan. Now with Biden’s puppet strings firmly attached to
Obama the plan can continue.
Biden’s plan had failed through two Federal Judges
shooting him down on student loan forgiveness. The Judges were united in their
thought process, basically any expenditure such as this has to be voted in by
Congress, because that’s how our system works. Biden has now instructed AG
Garland to restructure the bankruptcy courts to accommodate all these student
loans, to fast track young adults into their first bankruptcy experience.
This is but one more end run the Biden Administration
has done to circumvent federal law, and to be honest it is sickening. Every time
Biden gets over ruled by a Federal Judge he tries to find a way around the ruling.
The Separation of Powers Doctrine means nothing to
this President, he is making demands of other branches of government to work
against his political enemies or to force an agenda and it needs to stop!
Read More here on the bankruptcy fast track:
The history of student loans:
https://studentaid.gov/understand-aid/types/loans/interest-rates
5 comments:
This administration needs to be stopped immediately trying to circumvent the government rules and regulations!
What's next on their agenda? Maybe Mortgage Loans for the oppressed minorities? Car Loan forgiveness because they seriously need an upgrade? Why should a person that couldn't afford college have to pay the tab for students that want to welch on a debt? None of this makes any sense!
The government is challenging all of this unconstitutional student debt forgiveness vote buying in SCOTUS....they achieved their goal...buying votes of the young and indoctrinated....the rest of it is irrelevant other than to extend the power of the executive branch to act as an unequal part of the triumvirate of governing....the more the civically uneducated and ideologically imprinted young people grow in to more positions of power, the worse this is going to get. It is important to stamp the concept of what a republic is and why the Constitution is written the way that it is....to restrain the power hungry...
Looks like the Z generation was sold a false narrative bill of goods, and now the DOJ is trying desperately to salvage Biden's BS lies!
The three little weasels that need to be tossed out of government it's Mayorkas, Garland, and Wray
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