National Review: Don’t Forgive Student Debt

Blumpf has been fired.

It was White Independent and Moderate voters who fired him in every swing state. I’ve been arguing that financially strapped, rightwing White male Independent voters weren’t motivated to vote for him in 2020. They came out in force for him in the Center in the 2016 election. In the 2020 election, his appeal was more narrowly limited to the Right and he won more conservatives and Republicans.

National Review:

“This week, the Left has intensified its calls for President-elect Joe Biden to forgive student debt via executive order, perhaps as much as $50,000 per borrower. Such a move would constitute both awful policy and an abuse of the discretion that Congress has granted to the executive branch in this area.

It is often said that Americans’ trillion-and-a-half-dollar student-loan debt is a “crisis.” It is not. As Beth Akers of the Manhattan Institute has noted, the typical four-year college graduate who borrowed starts with a debt of $28,500, which he can eliminate with 20 years of $181 monthly payments. By way of comparison, bachelor’s-degree holders outearn high-school grads by something like a million dollars over the course of their lives. College costs too much, but not so much that we need to feel sorry for the most educated people in our society.

What about those with far higher burdens? These large sums normally come from graduate studies, not four-year degrees, and are disproportionately possessed by folks with relatively high incomes, including doctors and lawyers. Higher undergraduate debt is also often the result of a deliberate choice to attend expensive private colleges rather than more affordable public ones, and to turn down avenues such as military service that can pay for college. Moreover, many students from truly modest means are already given significant grant aid. On top of that, the problem of truly unmanageable debt has already been addressed — and at the expense of federal taxpayers. …”

Chuck Schumer and Elizabeth Warren are pressuring Biden to issue an executive order which would wipe out $50,000 in student loan debt. Biden is trying to weasel out of it by calling on Congress to cancel only $10,000 in student loan debt which we know will never go anywhere in the Senate.

New York Post:

“President-elect Joe Biden said Congress should take “immediate” action to forgive student loan debts.

Biden’s appeal comes after Senate Minority Leader Chuck Schumer (D-NY) said Biden should take executive action to waive student debt after he takes office.

A Biden official told Fox News that the president-elect is calling for “immediate” action to forgive $10,000 of student loan debt for borrowers — but that the action should take place in Congress.

“Immediate $10,000 forgiveness of student loans, helping people up there in real trouble,” Biden said Monday. “They’re having to make choices between paying their student loan and paying the rent. Those kinds of decisions.”

Biden added: “It should be done immediately.”

The official later said Biden was referring to congressional action.

Schumer and Sen. Elizabeth Warren (D-Mass.) advanced a plan saying Biden could use his executive authority to cancel up to $50,000 of student debt per borrower. …”

Student loan payments and interest are currently on ice because of COVID.

The Hill:

“Democratic leaders in Congress are pushing President-elect Joe Biden to take quick action on canceling student loan debt with an executive order to stimulate the economy and provide relief to struggling borrowers.

Biden has expressed interest in forgiving some amount of education debt, a move that would undoubtedly trigger political backlash, perhaps on both sides of the aisle.

There are also questions among economists about how much of a boost to consumer spending would result from swift action during a downturn.

Progressives such as Sen. Elizabeth Warren (D-Mass.) have long called for student debt cancellation as a necessary plank of any economic recovery. In an economy where education is shown to be one of the most reliable tickets to prosperity, progressives argue that sizable loans make it harder for people to get ahead, leaving them struggling to pay the bills and unable to save or invest.

More than 40 percent of U.S. adults who attended college — about 30 percent of all U.S. adults — had at least some student debt last year, according to a survey released in May by the Federal Reserve. Nearly 30 percent of those who have student loans also deferred their payments in 2019. …”

40% of college-educated voters have student loan debt.

Donald Trump was elected in 2016 because he was perceived as a Moderate on economics. By 2018, he was seen as more rightwing than Ronald Reagan on economics after he threw his support behind Paul Ryan’s agenda on health care and corporate tax cuts. Presto, the Blue Wall in the Rust Belt magically came back, which doesn’t surprise me at all given how he won the 2016 election.

In the 2020 election, the GOP had a DISMAL showing with Independent voters, Moderate voters, White college-educated voters and Millennials. 1/2 of Millennials are Independent voters. There were fewer Silent Generation and Boomer voters. Basically, Independent voters are younger and less wealthy than Republicans and this is true of leaners on both sides.

2/3rds of Independent voters say the U.S. economic system unfairly favors powerful interests. Right Indies are divided on the issue. The Hard-Pressed Skeptics strongly agree. The New Era Enterprisers strongly disagree. The True Cons are only 15% of registered voters.

In this context, National Review has found its political hill to die on for Principles™ : conserving the unsustainable student loan debt burden on Millennials who are openly embracing socialism due to their lack of household wealth. Literally the dumbest issue in American politics.

In the 2020 election, Donald Trump ran on giving $500 BILLION DOLLARS to based blacks in his Platinum Plan. They turned him down. This is the equivalent of 1/3rd of total outstanding federal student loan debt. How many White Millennials voted for Joe Biden because they couldn’t afford to vote for Trump?

In the four years that Donald Trump was president, the student loan issue went nowhere until COVID hit. Trump suspended student loan payments. Strangely enough, he didn’t run in 2020 on the fact he had done so. Instead, we heard endless tweets about “Dems R Real Racist” and how Joe Biden supported the 1994 crime bill. It never occurred to Trump to go further and lance that boil which would helped him with Millennials and Independent voters because the True Cons would have fussed about it. They would rather spend $1 billion dollars trying to appeal to based blacks who they showcased at the RNC in 2020.

About Hunter Wallace 9678 Articles
Founder and Editor-in-Chief of Occidental Dissent

39 Comments

  1. What is the median age of National Review readers? 67? These are the Boomers with the “I’m spending my kids inheritance” bumper stickers. The “muh bootstraps” crowd that could pay their college tuition for the entire year with their summer job earnings. They are either completely clueless as to how much college costs have outpaced inflation and wage growth, or they do understand and are too selfish to care. My degrees, obtained about 20 years ago, would cost twice as much today.

    • Well, did it ever occur to recent college grads (especially those with degrees in “Studies” to do the math before they set themselves up for this up for this? I would like to think that one who is college material to start with could do that level of math. Reality is at variance with my wishes though.

      • A lot of times the schools lie about job prospects with degrees. Or the government imports foreigners and it lowers the value of the degree. So the students might be told they can expect to be making $80k (for example) and take loans under that assumption only to find the labor market saturated after they graduate and have to settle for $50k.

    • “… how much college costs have outpaced inflation and wage growth ….”

      Yes—because of the student-loan programs.

    • How about AOC & crew propose legislation that imposes a wealth tax on the assets of so-called “non profits (sic)” and wealthy individuals such that all liquid (i.e. financial) assets above a certain threshold, perhaps $100 million are taxed at a graduated rate reaching 90% at $1 billion USD.

      The money collected could be used to extinguish all sorts of debts starting with medical debt and student loan debt. Since “higher education” and the “medical bidness” have become nothing but rackets in a country infested with rackets there would be some rough justice here.

      This would also clip the wings of bad actors such as the NAACP, ADL, $PLC, Brooking Institution, Rockefeller charities, Soros activities etc. and be a 12 Lb. sledgehammer blow to these bad institutions, all of them on the Left, too. The scumbag Republicans would howl the loudest, going to bat for their enemies on the Left as they always do. Fuck ’em.

      “The Power to Tax Is the Power to Destroy”. This power should be used to destroy the institutions of the Left, their financial power. Ironically, it is likely to be those on the Left, AOC & Co. who actually implement legislation that wrecks the institutional Left. It certainly will never be the Republican cuckservatives who take their own side in a fight.

      • Amen. Just because something is a “non-profit” doesn’t mean ass-loads of money aren’t being raked in by people.

        • It’s worse. The $PLC has lots of money in offshore accounts in the Cayman Islands. This was revealed in a sexual harassment lawsuit against Morris Dees, the founder of the $PLC. Of course, this was hushed and never pursued, sort of like the whole Epstein thing in 2008.

          Why the Hell does the $PLC have offshore accounts and how much is in those accounts? Inquiring minds want to know but the Lügenpresse’s job is to cover up these things that contradict the narrative.

          No one ever got poor by working for any of these s-called “non-profits”.

  2. Trump performed strongly in the upper Midwest and PA in 2020, comparably to 2016, far far better than Romney and McCain, it should go without saying, except losing. The margins were small. What happened seems to be a lot more complex than the insistence it was just about the outcast white man being tired of Trump. Exit polls can’t be trusted.

    Trump’s 2020 campaign very obviously and consciously eschewed the rhetoric of 2016. Letting Antifa and blacks run riot might have been effective but if he wanted it to work he should have done Willie Horton ads.

  3. My story is instructive.

    I took out about $58,000 in student loans in 1992 to 1996.
    While in college I lost my brother in a car crash and I had a mental breakdown.
    Unable to think or function, I dropped out and defaulted on my student loans.

    That original debt of $58,000 was sold to private companies who were allowed under Federal law to charge whatever interest and penalties they wanted.

    Soon, that $58,000 became $263,000.

    I am now 61, and over a quarter of a million in debt with interest and penalties.

    My “friendly” loan collection officer explained to to me. Quote;

    “You voluntary signed the papers, no one put a gun to your head and now you owe us. Congress allowed us to charge whatever interest and penalties we deem fit. Now shut the fuck up and pay us or we will ruin you.”

    I have been paying ever since. It has been HELL.

    My ex-wife on the other hand, got off scott-free, without paying a dime.

    She owed even more than I did. How did she do it?

    There is a legal loophole that her lawyer was able to exploit that says that, “If a woman has sole custody of her young children and is the primary support, the loan is forgiven.”

    Just like that. She got to walk away, and I am in debt for life.

    At 61, with high blood pressure, and a heart condition, does anyone seriously believe that I will repay $263,000 before I die? Seriously?

    Forgive all student loans and be done with it.
    Wall Street and the gov will never collect on it all.

    • Maybe the time actually has come for a gun to be put to your head by someone: you.

      Do your fellow taxpayers a favor.

      • So I should kill myself?

        No, I think not. I want the same deal “they” got.

        If Goldman Sachs can drive a Brinks truck up to the gates of the Treasury and loot “the taxpayers” (i.e. fictitious money printed on a US government printing press) why not I?

        Remember 2008?

        Goldman Sachs and others sold things that did not exist in reality and sold them on credit. (Remember “credit default swaps?”)

        They then put a metaphorical “gun to the head” of Bush and “taxpayers” of America and bluntly said, like a Mob enforcer collecting a debt;

        “Cover our losses, pay us, or we bring down the entire house of cards.”

        Bush swallowed real hard and blinked, giving them the keys to the US Treasury which they looted.

        It is worth noting that neither you nor your right-wing friends ever rioted in the streets, rejected the GOP and their corporate masters, or staged a revolution. You yawned, and went back to sleep, while the GOP kept talking about “free markets” and Goldman Sachs counted their newly looted “taxpayer money.”

        The only thing that brings people out in to the streets to stage an insurrection is when the police kill a black criminal high on drugs.

        Goldman Sachs looting the US Treasury doesn’t count toward Revolution or “1776 again.”

        Yes, I took out student loans. Yes, I signed the papers.

        But I have NEVER sold non-existent “credit default swaps” or phony “securities” backed by the US Treasury.

        I just want the same deal that Goldman Sachs got. That’s all.
        Is that really too much to ask?

          • Anyone OVER 40, should have their loans rescinded. Anyone UNDER 40, should have to pay out the wazoo. If they don’t have jobs, these entitled Millennials (who all effing voted for Biden) should be sent to the Gulags to work off their ‘debt to society.’ Including the B-word who wrote “White Fragility,’ the Jews, AOC,’ all Trannies (make them do extra hard MALE labor) and the abortion-loving whores can be the prostitutes for the men.

            You wanted a Bolshevik Paradise, by not voting for Trump. Well, have it, then.

      • Hahaha! Philadelphia Johnny is a old grumpy fiscal conservative RETARDican. La Boomer bourgeoisie to his bone marrow.

        No wonder he soiled his diaper over the kushner administration’s defeat. Perhaps, He should put himself out of his misery before Biden’s inauguration.

    • John Bonaccorsi of Philadelphia advised: “Maybe the time actually has come for a gun to be put to your head by someone: you.”

      I say: maybe it’s time to join the socialist party. No more taxes, no more rent and no more usury, and the maximum of freedom for the vast majority.

      • There was an old coal miner who told how they were used and abused, beginning in childhood on the breakers, finally sucked dry with debt to the company store, rent for coal patch housing, and even some taxes, while he lost his health. One day, the last straw was loaded on.him, and he said “That was the day that I went out and joined the socialist party.”

        • “the world dont owe me or you a living, friend”:

          The world doesn’t owe the well-positioned rent-collectors (usurers) ANYTHING, my friend.

        • Contrarily, those who buy up and own almost everything DON’T care for it. But their wage and chattel slaves, who own little or nothing, do the caring.

          There are TWO kinds of motivation: (1) greed and pride on the one hand, and (2) brotherly love and survival on the other. These are the evil and good natures of humankind. I recommend a political system that rewards the good.

  4. “Literally the dumbest issue in American politics.”

    No, it’s not. It’s an issue that goes to the very heart of our politics, which are mostly to do with wrestling to get ahold of the money of others.

    As I have said here, at Occidental Dissent, the Constitution drafted by those would-be-barons of Old Virginia is a botch, which protects neither private property nor the white race. It permits anyone to cobble together a majority—fifty-percent-plus-one votes—to force citizens of the U.S. to expend themselves on other Americans (or anyone in the world, actually) for almost any reason whatever. What rancorous politics that has invited.

    Would you like to know how to put nearly every pundit and lobbyist in the country out of business—with nothing left to do or talk about—and create a country in which gigawatts of human nervous energy can be freed up for productive or gratifying activity, as opposed to political bickering and wrangling over money?

    Here’s how you do it. You add to that botch of a document a one-sentence amendment:

    “Neither Congress nor the states shall enact, enforce, or recognize any law inconsistent with the right not to spend.”

    By preserving “the right not to spend”—or “private property,” as it’s usually called—I mean the right not to be compelled or manipulated into donation or exchange. I’m not talking about freedom from taxes for elements of governance (such as the courts, the police, the military). I’m talking about elimination of the so-called public schools; Social Security (which is neither social nor secure); Medicare; Medicaid; Obamacare; manipulation of supposedly-private enterprises to provide medical-insurance they don’t want to provide or to run pension funds for their employees. Is that all? I doubt it—but those are the ones that come to my mind right now. The amendment I presented above would, yes, eliminate all them—and of course, would make anything like Trump’s Platinum Plan a non-starter (though in a way, I don’t quite begrudge blacks their desire for “gibs,” as oh-so-clever commenters at websites like this one often term it—those few centuries of slavery entitle them to at least that much).

    Aren’t we all shocked that the bums who cobbled together a majority, decades ago, to get all the taxpayers of America to underwrite student loans are now trying to cobble together a majority to get those loans “forgiven”? Who would have expected that from the bums whose households this rusting, slovenly, debt-ridden, disorganized polity now resembles?

    “Literally the dumbest issue in American politics.” Nice try, Mr. W.

    PS I think I’ve just coined as well a license-plate motto: “Virginia—Where All This Nonsense Started.”

    • “(though in a way, I don’t quite begrudge blacks their desire for “gibs,” as oh-so-clever commenters at websites like this one often term it—those few centuries of slavery entitle them to at least that much).”

      The American blacks living today were never enslaved and enjoy the highest living standards and opportunities of any blacks on the planet.

    • Oops—correction: “Congress,” in my recommended amendment, should be “the United States,” i.e.:

      “Neither the United States nor any of the several States shall enact, enforce, or recognize any law inconsistent with the right not to spend.”

    • Bone of Contention- Signor, E MORTO. The Constitution. DEAD. America is DEAD. Nothing to fight or die for, anymore. TO HELL WITH THIS GODLESS LAND. I hope His Fraudulency and the Hindoo Hoe absolutely make this just like Soviet Russia if they lie and steal the Office of the Presidency, because y’all deserve it. I’m fighting back as long as I can, and will make sure to be killed as a martyr gladly, rather than live in such a godless excuse for a country.

  5. Any boomer who says to young college graduates struggling with loan debt “tough shit, just pay what you owe” will soon find himself at the mercy of brown nurses and black janitors in some hell-hole senior care facility. That will make me laff 6 million times.

    To hell with Trump. He never had any interest in actually being president, only in campaigning. And look at the messy, undignified way he is attempting to hold on to office. He waves to his idiot supporters inside his armor-plated SUV on his way to the golf course while they wind up getting attacked by Antifa. Meanwhile the cops and the FBI stand around and watch it happen. Not voting this year was my way of saying “fuck you” to the whole rotten, discredited system.

  6. (((National Review))) and Ben Shapiro are outraged that American taxpayer should be used to forgive American students debt. The highest and best use of American taxpayer money according to NR and Ben Shapiro is to fund American wars against Israel’s enemies.

  7. Textbooks are another scam of the “higher learning ” racket. $300+ for one textbook that the college bookstore will buy back from at .50 on the dollar, if you’re lucky enough to have a textbook that the neo-marxist professor will still use the following semester.

    Of course, tuition is the elephant of student loan debt, but biting at its heels are the room and board plus textbooks.

  8. Of course (((Shapiro))) likes debt, it keeps the goyim slaves to their system of usury. A jew without usury is like a parasite not being able to feed of the blood of its host.

    • As you seem to be unaware, John, what you’ve said is, if anything, an argument for elimination of the student-loan programs, not for student-loan “forgiveness” (nice Christian term for, in this case, a swindle).

      Though I’ve not looked closely at the design of those programs, my sense is that private banks—of which not a few, I’d guess, are (((private banks)))—nominally provide the so-called loans, for which the U.S. government, i.e., the taxpayers, co-sign. What that means in the first place is that the “loans,” in the tradition of leftist falseness, are actually largesse, rather as a parent’s co-signing for a loan for which his child could not, without the parent’s credit, qualify is largesse.

      More important is that whether the loans are repaid or “forgiven,” the banks will not be left holding the bag. If the loans are repaid, the banks will get the money from the former students to which it was given. If the loans are “forgiven,” the money, I have little doubt, will be transferred to the banks, in one way or another, from the taxpayers.

      What all that means, if what I’ve said is basically correct, is that these student-loan programs are a bit of racial suicide into which only common whites—“the people,” on whose wisdom Thomas Jefferson was so intent we rely—could vote themselves. They’re socialism disguised, as Americans prefer it, as capitalism (via the participation of private banks); but what’s worse is that they’re socialism in which (((a certain group))) is positioned to do some skimming, to put it mildly.

      This is the sort of thing the white masses have voted themselves into on several fronts, via, for instance, Medicare and Medicaid and their related “nursing homes,” which have spread like mushrooms of unhappiness across the American landscape, or via, to take another example, taxpayer construction of that other revolting mushroom patch, the professional sports stadiums, in which (((a certain group)) presents lucrative entertainments without having had to spend for the construction of the venue.

      Everywhere, I’m inclined to think, (((a certain group))), via the brainlessness of the goyim on whom it rightly looks down, has positioned itself to skim and thus to amass the fortunes through which it buys the politicians who send the sons of those white taxpayers off to fight wars for Israel.

  9. On the Ben Shapiro tweet “Housing is a human right, too, I’d assume. So cancel all mortgage debt”.

    From the most savage book of the Old Testament (a book he follows as a orthodox jew):

    “The Bible’s book of Leviticus provides that every 50 years all mortgage debt is to be forgiven. This occurrence was called the Jubilee Year. This may seem like a shocking imposition on creditors and a free ride for debtors. Yet, consider the behavioral feedback loops. In the 10th year after the last Jubilee, lenders might lend freely for a 20-year term. By the 45th year it seems likely that long-term credit would have dried up because the lenders were as aware of the coming Jubilee as the debtors. This was a self-regulating system that deleveraged itself before credit bubbles grew out of control and threatened a widespread collapse. It was an orderly deleveraging that seems enlightened in comparison with the disorderly and draconian deleveraging our economy is experiencing today.”

    https://www.usnews.com/opinion/blogs/economic-intelligence/2012/07/02/debt-forgiveness-would-revive-the-economy

    the biblical case for mortgage debt forgiveness is obvious. No Human Rights lawyers needed.

    • Bacon Babel- are you that DAMN DUMB, that you really BELIEVE a JEW, follows the Old Testament?
      Have you never read or heard of the TALMUD? THAT, and THAT ALONE< is what any [sic] 'religious' Jew follows. THEY LOATHE THE WORD OF GOD. The Talmud is nothing but a mess of mental gymnastics to AVOID THE REQUIREMENTS OF THE LAW OF GOD.

      That is why Hitler loathed them, why over 100 countries expelled them, and why USURY was considered a mortal sin- because the JEWS PRACTICED IT AGAINST THE CHRISTIANS, and it was how they gained power over us.

      The Jews follow the Bible, like a Gay whore follows the abstinence rules of Monastics. NOT AT ALL.

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