(TheLibertyRevolution.com)- In what is an obvious vote-buying scheme, on Wednesday, President Biden announced that he would be “canceling” some student loan debt for borrowers earning less than $125,000 a year.
And by “canceling” what Biden means is a student debt bailout funded by American taxpayers.
The unconstitutional move would force American taxpayers to pay $10,000 of student loan debt for those earning less than $125,000 a year, and $20,000 of student loan debt from borrowers who received Pell Grants while in school.
And while the White House tries to sell this as a benefit to the “middle class,” in reality, this student loan bailout will mostly benefit affluent Americans at the expense of the working class.
During the White House press briefing following Biden’s announcement, Fox News White House correspondent Peter Doocy hammered press secretary Karine Jean Pierre, demanding to know who exactly would be footing the bill for this massive $300 billion bailout.
And Jean Pierre was at a loss to explain it.
Watch this series of clips from yesterday’s press briefing:
DOOCY TIME, part 2: "About the student loans, how can the country afford such a massive handout?"
KJP: Yeah, well, you know, ambassador rice said that she is happy to have that discussion…If you look at what this President has done…we have…brought down the deficit." pic.twitter.com/pbLVNtQyAi
— Curtis Houck (@CurtisHouck) August 24, 2022
Doocy: "And you might spend $300 billion to $900 billion extra. So, you can do that and not increase the deficit?"
KJP: "Here's the thing. What we are trying to do here — we are doing this responsibly. You heard directly from the President[.]" pic.twitter.com/J7c4IAQKDy
— Curtis Houck (@CurtisHouck) August 24, 2022
Doocy: "Who's paying for this?…You're talking about how much it might cost, how much it might not cost. Who is paying for this?
KJP: "What we are saying that the work that this administration has done, the work that the Democrats in Congress have done, is actually there." pic.twitter.com/Y0z0uU7izQ
— Curtis Houck (@CurtisHouck) August 24, 2022
Doocy: "But when you forgive debt, you're not just disappearing debt, so who is paying for it?
KJP: "And then I will give you the second part. We have lifted the pause…at the end of this year, which is going to matter…which is going to offset a lot of what we are doing[.]" pic.twitter.com/tT8T4R8g2a
— Curtis Houck (@CurtisHouck) August 24, 2022
Doocy: "But someone is paying for it. Who?"
KJP: "I just–I just laid out. I just laid –"
Doocy: "Who?"
KJP: "–out for you. No, Peter, I just laid out for you how we're seeing this process and why this matters."
Doocy: "Wealthy Americans? Big corporations? Who's paying?" pic.twitter.com/aYsEeYrt2Q
— Curtis Houck (@CurtisHouck) August 24, 2022
Not only will this scheme further fuel inflation, but it is also unconstitutional.
There is no doubt the President’s bailout won’t survive a court challenge.
But survival may not be the Biden administration’s objective.
It is more likely Biden caved to demands and allowed this bailout as a way to buy votes using taxpayer money.
But at the end of the day, the people who benefit the most from this vote-buying scheme were already likely to vote Democrat in November.
Offering a middle-class-funded bailout to affluent college graduates less than three months before the midterms hands the Republicans a perfect campaign message.
Wednesday evening, Fox News host Tucker Carlson blasted the president over the craven scheme in his opening monologue.
Watch Tucker’s take HERE.
