You would think the U.S. were running a $2 trillion budget SURPLUS, not a deficit, the way Biden is passing out free money.
Biden has attempted to write off more than $500 billion of unpaid student loans (before he got shot down by the Supreme Court), but that wasn’t after he forgave $107 billion of these repayments. Then earlier this month he ignored the courts and wrote off another $9 billion of unpaid student debt.
Now we learn from Rep. Roger Williams of Texas — the Small Business Committee chairman — that Biden’s Small Business Administration wants to unilaterally forgive virtually all unpaid Covid business relief loans of up to $100,000. The SBA has declared that the agency will not try to collect the money owed to taxpayers. According to the Congressional Oversight Committee, “these loans were never meant to be forgiven” and “there were $62 billion of these loans that are past due, delinquent, in liquidation, or charged off” (as of the end of March 2023).
Does Biden think that 2023 is a Year of Jubilee where loans can be forgiven and never repaid? He sure is generous with other people’s money.