Biden just announced that he’s extending the student debt moratorium until May 1st. It was set to end on Feb 1st, but he’s extended it due to the omicron COVID variant and inflation which are placing additional burdens on the finances of families and individuals. Under this moratorium, student loan repayments are paused, and interest rates are set at 0%.
But of course, this isn’t enough for Sen. Elizabeth Warren and many others. They want up to $50,000 of student debt canceled completely by executive order! In a show of increasingly rare firmness, Biden insists he would only support up to $10,000 of debt forgiveness, and that Congress should pass such a measure.
What a thought! Do you mean the president can’t just do whatever he wants with federal money?
Aside from politicians who want to buy the loyalty of younger generations, and the many, but not all, who are saddled with debt, few support this idea - including those who until recently have been ruled by debt.
It’s not fair, goes the argument. We had to arrange the last couple decades of our lives around repaying student loans. Why should you get off scot-free?
On the one hand, I sympathize with this resentment. My father is a pastor and my mother is a stay-at-home mom and homeschooler. With seven kids, there wasn’t much left over to save for college. I started working as a middle schooler, babysitting every chance I got, and saving up my birthday money. I got an “official” job in high school while my friends pursued extracurriculars and hobbies. I studied every moment I got and earned multiple valuable scholarships. I continued to work throughout college and during summers, rather than taking internships that could have advanced my career more quickly. I graduated debt-free and don’t regret it for a moment. When the government cancels the debt of my classmate who took loans and spent Spring Break at the beach instead of working or volunteering, will I get a check in the mail?
I admit this mentality is a bit childish. Shouldn’t I be delighted for the good fortune of my peers? By making it personal, I actually miss the larger dangers lurking behind this proposal.
Democrats don’t care about economic strength. We’ve seen this time and again throughout COVID. They don’t want people to go back to work, or for businesses to reopen and sales to resume. Liberals want us reliant on them. They reject concepts of trickle-down economics which show how everyone is better off when money is flowing through the economy. So why would they care about citizens who are indebted to them? It’s not that their big government hearts are bleeding for the economic wellbeing of young citizens. In fact, shouldn’t they be delighted to have an entire generation enslaved to the government’s pocketbook?
Well, as Democrats have shown time and time again, they have a longer game in mind. I can’t help but respect them for it. There are several elements at play here:
Socialist Democrats are relying on human pettiness. They know our response is: if I had to be in debt, you have to be as well. Why aren’t they perturbed by the vast number of Americans who push against student loan cancellation because they didn’t receive it? Liberals know the same mentality will help them down the road. The more Americans live with heavy debt, the more they’ll seek to normalize it to avoid guilt. We’ve seen this in a variety of areas. Liberals want to force people to acknowledge that all their actions are not only acceptable but wonderful. They praise abortions as normal and demand easier access so they don’t have to worry if theirs was wrong. They glorify every sexuality and affirm sleeping around so they don’t have to feel ashamed, and so on.
Americans who’ve lived with a burden of debt will turn around and encourage other Americans to take out a larger car loan than they can afford, to buy that designer bag they don’t need, and to take that vacation that will make them look affluent in front of their work friends. Getting other people to follow the same path is the perfect way to affirm our own behavior.
It’s time to change this trend by being good parents, friends, and spouses who are willing to tell each other hard truths rather than being enablers. Let’s praise each other for staying in rather than eating out, encourage our kids to work for a year before going to college, and agree to share a home office with our spouse, rather than getting that bigger house.
Once we sell our freedoms, we won’t be able to buy them back. In the trap of socialism, the sweet bait is free money, but it is a lie. Biden caused inflation, which gave him the excuse he needed to offer free government money, which enslaves us to the government’s spending, and so the cycle continues. We need to reject student loan forgiveness, not because “it isn’t fair,” but because it enforces a long-term trend of irresponsible spending that already teeters on the point of no return.
Don’t take the bait.
Caylah Coffeen is a Millennial in Huntsville, AL who knows how to think and speaks up for the sake of truth and a future as bright as the stars. The views and opinions expressed here are those of the author and do not necessarily reflect the policy or position of 1819 News. To comment, please send an email with your name and contact information to Commentary@1819News.com
