The Only Good Thing that Joe Biden Did
Here is an article that I found on Zero Hedge website. This site has many good articles. So, I do recommend going there. But there is one article that was put just recently that is really disappointing and off the mark. It gives 10 reasons why Joe Biden’s student debt cancellation is bad. I believe that it’s the only thing that this President did that was good. Some of the complaints in this article is really for another article. With that in mind, here is my take on each point. Don’t forget, I’m looking at this from a Christian point of view.
My comments are underneath the bold print.
10 Reasons Why Student Debt Cancellation is Unfair
It is unfair to those who sacrificed to pay off their student loans and it’s unfair to those who foot the bill.
What do you expect – for the government to go back in time to the first student loan? This is like paying blacks today whose parents may or may not have been slaves reparations.
It is an upward transfer of wealth. The plumber pays for someone else’s college education.
Many people think that with every government spending, the people are taxed more. No, that is not the case, as citizens have been taxed to the hilt many years ago. If it is true that every handout that the government gives citizens have to pay back in taxes, then the national debt would be going down. It’s not – it’s going up!
It encourages going to college when there might be better choices such as learning a trade. And It creates incentive to take on new student loans.
This is another issue altogether. There are some courses that can only be learned in college. Yes, there are many worthless courses but what about the good ones, such as: chemistry, metallurgy, mathematics, etc?
The problem that many nations have, especially America, is that they have a shortage of skilled people.
It is blatant election year bribe to college students and college graduates.
Yes, it can be looked at as an “election bribe,” but election or no election, the fact that students don’t have to pay back loans is a good thing.
It creates a moral hazard for college administrators to sell useless degrees creating another overhang of new student debt.
This is another issue altogether. How is it that this author strays off the issue?! The point is, that useless degrees should not be allowed – regardless if the tuition is cheap or very expensive. Courses that are centred in PC, as an example should not be allowed, including courses that are called “science” but is just there to “milk” the public.
It creates a moral hazard for students who might feel that their debt should be forgiven in the future
The fact is, that there were some countries in the past where they had free education and many more countries where higher education was very affordable – such as the United States many years ago. With mortgage high student loans, it enriches the pockets of the Bankesters and the school administration/teachers.
In the past some smart countries realised that their wealth is in highly educated people. Germany, under Hitler, realised that and they prospered. Hitler said what good is it if a smart person can not afford to go to college because he is poor. It’s a loss to the nation and to the student and his family. Maybe that is why Germany had to be destroyed by the New World Order, as it showed that there was a better way; that competed with the New World Order crowd.
It subsidizes poor decision-making such as majoring in useless degrees including gender studies, anthropology, archeology, art history, music, culinary arts, fashion design, philosophy, etc.
Again, this writer has a big problem of staying on track. Like I said, there should not be useless degrees – but this has nothing to do with student loans. Not all courses in college/universities are useless. And yes, Virgina, young people should be encouraged to take a useful trade, such as plumbing, mechanics of various kinds, welding and many other things. This should be encouraged, but to say that everyone should be in a trade is wrong, just as it’s wrong that everyone should go to college. One needs the other; one person prefers to work with his mind, while another to work with his hands. A society in today’s age, needs both. And, they should all be worthwhile courses, not that which are leeches off other people’s hard work – such as lawyers, as an example.
The president has no power to forgive student loans. Doing so creates another precedent for presidential rule by decree. This is too big a financial decision not to involve Congress. The current student loan program was authorized by Congress and contains no such authority to the president.
This was written by either a person who is not a Christian or one that doesn’t know their Bible (and there are millions that don’t). The fact is, that the leader of a country should have power to cancel debt, as we read under God’s laws. There should be a cancelation of debt every 7 years (known as the Sabbath Year, and on the 49 th year (Jubilee Year), there is not only a cancelation of debt but also all property that was originally in the family should be returned. Both of these events preventions the accumulation of debt and people being landless. So, biblically, what should be done is much, much, more than what Biden did – but it’s a start.
What this writer failed to mention or simply ignored is, that college tuition has gone astronomically, means students have, in effect, a mortgage on their education! They will not be able to afford a home. That is why many graduated students are living at home with their parents for many years or are homeless or close to it. All while the Banksters and teachers are rolling in the money. Doesn’t this person care about the ordinary people?
With not paying back a huge loan (which is created out of thin air), former students would be able to buy homes for their families, thus creating more jobs in the construction industry.
For many students, when they see how high the cost of education is, they don’t enter college or trade school (as they are going up in price, too) to begin with. So, he/she has to look for a job that doesn’t require a degree, which are usually the lowest paying jobs. How does that help him, his family and society? It doesn’t! So, cancellation of debt is the best thing.
Actually, with the debt being forgiven, means that the government goes into debt more; the taxpayers are already “tapped-out,” it’s just on the on the books that the government now owes more money to the banks. To take care of that, we have to do it God’s way! That is to cancel all private, corporate and government debt.
Biden is openly flouting the Supreme court, another dangerous precedent.
Too many people think that the Supreme Court is, somehow God – it’s isn’t. It has passed judgement on many, many things that is unbiblical, therefor, should be ignored.
Free money is highly inflationary.
Money becomes inflationary only when there is not enough goods and services to back it – otherwise, it is not. By cancelling the debt, is does not add to inflation. Besides, when a loan has to be paid back – even students’ loans – there is interest involved. This interest (usuary) is not created. And when a loan is paid back it takes money out of circulation, which is like taking oil out of a piece of machinery. When enough oil is taken out the machinery comes to a grinding halt – just like we see in an economy! What keeps the ball rolling is that someone else has to come along and borrow more money. But there is a limited this can be done. So, this is what causes inflation – too much money verse too little goods and services!
By now, hopefully, you see all the errors that the author of the Zero Hedge article about how bad it is for student debts be forgiven is wrong.
For further reading I highly suggest reading the book by Pastor Sheldon Emry, “Billions for the Bankers, Debt for the People,” which can be found free on the internet. It’s a short read and in simple words tells about how the economy should work under God economic system.