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Zero Hedge
ZeroHedge
2 Jun 2024


NextImg:Making Over $141K, Minneapolis Mayor Thanks Biden For Student Loan Forgiveness

If you weren't already infuriated by Joe Biden's exploitation of the federal student loan program as a means of buying votes and redistributing wealth, this should do the trick. 

On Wednesday, Minneapolis Mayor Melvin Carter -- who earns makes takes $140,814 a year before benefits -- rushed to Twitter to thank President Biden for erasing his remaining student debt, sharing a screen shot showing his outstanding balance had turned to zero. 

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The latest drip in the fiscal Chinese water torture that's being inflicted on responsible, productive Americans came earlier that day, with Biden announcing he was cancelling another $7.7 billion of debt. With that, the total such debt wiped away by his administration has reached $167 billion.  

After emphasizing that the average beneficiary of Biden's self-serving abuse of taxpayers has had $35,000 in debt forgiven, White House Press Secretary Karine Jean-Pierre fielded a challenging question from, of all sources, NBC News. Correspondent Peter Alexander asked, "Why don’t those individuals who didn’t receive $35,000 in debt cancellation deserve a $35,000 check from other Americans for what other means they would want to use it?" 

Jean-Pierre's struggle to rationalize the debt-forgiveness fiesta resulted in a comical, leftist word-salad: 

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Most notably, Jean-Pierre said, "We're talking about folks who are in debt who are literally being crushed." We doubt that characterization applies to Mayor Carter, who's pulling in $141K by himself in a two-income household -- not counting a city-taxpayer-furnished car, cell phone, pension and deferred compensation

If he was being "literally" crushed, it's safe to say it's because he and his OB/GYN nurse wife made a series of poor financial decisions. Either way, he doesn't deserve to have his net worth elevated by distributing the cost to other members of society -- including future ones. And neither does anyone else. 

In early April, Biden announced a five-pronged proposal for even more student debt forgiveness. A UPenn-Wharton analysis pegged the cost at $84 billion, and noted that the proposal would "relieve some longer-term student debt for about 750,000 households making over $312,000 in average household income." 

We're guessing Team Biden might have mixed feelings about Mayor Melvin's tin-eared, highly-public thank you. It's not playing well in Peoria... 

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