Carol Roth Explains to the Misled How Biden's 'Student Loan Forgiveness' Costs the Average Worker

Doug P. | 12:30 PM on June 20, 2024

Yesterday we had a story about a comms director for a Democrat U.S. congressman who posted a hearty thank you to President Biden for paying off his student loan balance, or "cancelling" it as the Left likes to say.

In that story we noted that this person's "thank you" note was directed at the wrong people:

Notice he thanks Biden, and not the taxpayers -- the majority of whom either did not go to college or paid off their loans -- who actually paid his debt.

Carol Roth starts off by reminding everybody that nothing got "cancelled":

Student debt doesn’t get “cancelled”, it merely gets shifted to other taxpayers.
— Carol Roth (@caroljsroth) June 20, 2024

Roth then received the following challenge: "Show me where taxpayers are being charged for student loan forgiveness."

That challenge accepted and hit out of the park:

When the government loans you money, it is loaning to you from taxpayers (taxes or taxpayer-backed debt).

When you don’t repay that $, the government doesn’t receive the interest and principal it had given you and was expecting back. When it doesn’t receive that, it requires… https://t.co/Oh4RhRUKKV pic.twitter.com/PZHBwBL2YY
— Carol Roth (@caroljsroth) June 20, 2024

Here's that full post in case you can't see it all:

When the government loans you money, it is loaning to you from taxpayers (taxes or taxpayer-backed debt).
When you don’t repay that $, the government doesn’t receive the interest and principal it had given you and was expecting back. When it doesn’t receive that, it requires more taxpayer money (direct cost), less spending or more debt, which requires its own interest payments. The latter, as we have seen in recent years, is not only costly but inflationary and steals purchasing power from workers. That’s how you cost them.