The Burden This Decision Could Put On Ordinary Americans, That Will Leave You Speechless

The looming debt limit deadline demands our immediate attention as we strive to restore fiscal responsibility. However, President Biden’s approach to this matter raises serious concerns. His tax and spending policies have only worsened our debt and deficits, casting a shadow of economic uncertainty over our nation.

While the White House insists on raising the debt limit without any preconditions, it is important to question their intentions. Biden claims it’s about “paying our bills,” yet his administration continues to push for policies that will add hundreds of billions to our already burdensome tab.

One glaring example is the proposed student loan schemes, estimated to cost taxpayers nearly $600 billion according to the Congressional Budget Office.

In the coming week, the Senate will vote on our Congressional Review Act (CRA) resolution of disapproval, a crucial step towards blocking President Biden’s loan transfer and repayment pause. We must understand the implications of Biden’s so-called student debt “forgiveness” plan—it does not actually forgive or cancel the debt.

Instead, it shifts the burden from those who willingly took out loans to attend college to those who chose alternative paths or have already responsibly paid off their loans. This approach is not only unfair but also fiscally irresponsible.

The CBO estimates that this blanket debt transfer will come at a staggering cost of $400 billion, with a significant portion benefiting wealthier families earning up to $250,000 per year. We must consider the hardworking individuals who opted not to pursue college but are diligently repaying their loans, like the man with a work truck loan or the woman struggling to pay her mortgage in Biden’s struggling economy. President Biden’s policies unfairly punish them simply because their debts differ from those of his favored class.

Furthermore, the Biden administration has repeatedly extended the student loan repayment pause, long after the initial justification of the pandemic. This continued pause comes at a tremendous cost of $5 billion per month, reaching a total of $195 billion and counting.

These policies place an undue burden on ordinary Americans, with 87% of them having no student loans. Yet they will be forced to shoulder the financial consequences of someone else’s student debt. We must fight for fairness.

It is crucial to support the CRA resolution and stand up for hardworking families who will receive no benefits but will be left with the bill for these unjust policies.

To restore our financial stability, Republicans and Democrats must set aside their differences and collaborate. President Biden’s previous stance of raising the debt ceiling without any preconditions is simply untenable.

Over the past two years, his administration has recklessly added trillions of dollars to our national debt. The proposed student loan schemes alone are estimated to cost over $600 billion and counting.

It’s high time we put an end to this excessive spending. Speaker Kevin McCarthy, a dedicated Republican from California, has approached the negotiation table in good faith, seeking a deal that benefits all Americans. We call on President Biden to do the same.

Source Fox News