{"id":1623017,"date":"2022-08-26T11:04:22","date_gmt":"2022-08-26T15:04:22","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1623017"},"modified":"2022-08-26T11:04:38","modified_gmt":"2022-08-26T15:04:38","slug":"astonishingly-unfair-mcconnell-calls-bidens-student-loan-relief-socialism","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/astonishingly-unfair-mcconnell-calls-bidens-student-loan-relief-socialism\/","title":{"rendered":"\u2018Astonishingly Unfair\u2019: McConnell Calls Biden\u2019s Student Loan Relief \u2018Socialism\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fastonishingly-unfair-mcconnell-calls-bidens-student-loan-relief-socialism%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1623017&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Senate Minority Leader Mitch McConnell (R-Ky.) said President Joe Biden\u2019s newly announced <a href=\"https:\/\/www.theepochtimes.com\/t-student-loan\">student loan<\/a> forgiveness would drive up \u201cwildly unfair redistribution\u201d of wealth, benefitting only higher-earning elites of the country.<\/p>\n<p>\u201cPresident Biden\u2019s student loan socialism is a slap in the face to every family who sacrificed to save for college, every graduate who paid their debt, and every American who chose a certain career path or volunteered to serve in our Armed Forces in order to avoid taking on debt,\u201d McConnell said in a Wednesday <a href=\"https:\/\/www.republicanleader.senate.gov\/newsroom\/press-releases\/mcconnell-student-loan-socialism-a-slap-in-the-face-to-working-families-\">statement<\/a>.<\/p>\n<p>\u201cThis policy is astonishingly unfair,\u201d he added.<\/p>\n<p>Biden officially <a href=\"https:\/\/www.theepochtimes.com\/biden-admin-to-cancel-10000-of-student-loan-debt-for-millions-despite-inflation-concerns_4685966.html\">announced<\/a> that his administration will wipe out up to $10,000 in federal student loan debt for individual borrowers making less than $125,000 a year or married couples earning less than $250,000 per year. Pell Grants recipients could qualify for a maxim of $20,000 in debt cancellation.\u200b\u200b<\/p>\n<p> <a href=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2022\/08\/24\/Biden-e1661368761210-1200x713.jpg\"><\/a> U.S. President Joe Biden announces student loan relief with Education Secretary Miguel Cardona in the Roosevelt Room of the White House in Washington on Aug. 24, 2022. (Olivier Douliery\/AFP via Getty Images) <\/p>\n<p>The wide-scale student loan forgiveness came under Biden\u2019s presidential campaign promise two years ago, becoming the largest debt cancellation per individual so far.<\/p>\n<p> \u2018Skyrocketing Inflation\u2019 <\/p>\n<p>McConnell accused the policy of being a giveaway to those \u201cearning six figures,\u201d yet failing to save working Americans swamped in skyrocketing <a href=\"https:\/\/www.theepochtimes.com\/t-inflation\">inflation<\/a> and struggling to pay their everyday bills.<\/p>\n<p>He stated the median American with student loans already has a much higher income than the median American overall. \u201cExperts who studied similar past proposals found that the overwhelming benefit of student loan socialism flows to higher-earning Americans,\u201d the Kentucky Republican continued.<\/p>\n<p>A <a href=\"http:\/\/brookings.edu\/blog\/up-front\/2020\/10\/09\/who-owes-the-most-in-student-loans-new-data-from-the-fed\/\">2020 study<\/a> by Brookings Institution states that 40 percent of the highest-income households owed close to 60 percent of the outstanding education debt and made nearly three-quarters of the<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Senate Minority Leader Mitch McConnell (R-Ky.) said President Joe Biden\u2019s newly announced student loan forgiveness would drive up \u201cwildly unfair redistribution\u201d of wealth, benefitting only higher-earning elites of the country. \u201cPresident Biden\u2019s student loan socialism is a slap in the face to every family who sacrificed to save for college, every graduate who paid their [\u2026]<\/p>\n","protected":false},"author":246,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1623017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1623017","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/246"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1623017"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1623017\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1623017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1623017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1623017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}