September 2nd, 2022
Student Loan Forgiveness
Another key element in the President’s “Money For Nothing” strategy is this new forgiveness of student debt program. The cost of the program is estimated to be over $500 billion, which is not being paid for in any way, and will increase the average burden on U.S. taxpayers by $2500 per person. In other words, the normal everyday taxpayer will be footing a bill because some student shmoe hasn’t figured out how to get a decent paying job to cover his/her own debt. Some have suggested that it is especially difficult for those students who majored in Basket-weaving and Mosquito Health and Safety to find the kind of job that will produce any sort of salary that would allow them to chip away at their loans. The students who were minoring in Beer Pong face even bigger difficulties, especially if they continued their Pong studies in graduate school and beyond.
A further concern is that the reckless spending by the President and his team are expected to have the near-term impact of cranking-up another layer of Inflation on the fragile economy. His team simply cannot understand that all these giveaways and nutty spending programs are wreaking havoc on monetary policy, thus causing inflation to hit levels of 9 percent or more. The Federal Reserve is now attempting to rein in inflation by jacking up interest rates, but even they are having trouble keeping up with Joe’s spending binge.
Mid-term elections are coming soon. It is expected that many of these irresponsible spending blitz actions will be cancelled or tempered once the adults are voted back into power. Until then… hold on.
Disclaimer: all stories in Bizarreville are fiction, even the ones with Beer Pong.
