[Episode 0845] [Rebel Civics] Student Debt Forgiveness Is Theft

Face it, government “forgiveness” of student loans is theft. It is transfer of the debt obligation to people who had nothing to do with the loan. Joe Biden’s recent executive order providing “debt cancellation” on up to $20,000 on student loans is immoral, unconstitutional, and economically foolish. It does buy votes, however--from people who love the idea of having someone else pay their debts at the point of a government gun. On this live show, Keith explains why this order is theft, why Biden has no legal constitutional authority to do it, and why it is stupid from both basic economics and educational success viewpoints. The video version of this episode is available here: https://unsafespace.com/ep0845 Links Referenced in the Show: White House 8/24/22 Statement https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/24/fact-sheet-president-biden-announces-student-loan-relief-for-borrowers-who-need-it-most/ Federal Student Loan Programs https://studentaid.gov/understand-aid/types/loans Reason article, income driven repayment program changes will increase college cost https://reason.com/2022/08/30/biden-student-loans-income-driven-repayment-college/ Sheepskin Effect, math analysis https://www.econlib.org/archives/2013/02/sheepskin_effec.html George Mason quote https://constitutioncenter.org/the-constitution/historic-document-library/detail/george-mason-objections-to-the-constitution-of-government-formed-by-the-convention-1787 Committee estimate of total cost of forgiveness - $500B https://www.crfb.org/blogs/new-student-debt-changes-will-cost-half-trillion-dollars Spectator article, analysis of who forgiveness benefits https://spectator.org/uncle-joe-i-paid-off-my-student-loans-can-i-have-some-other-free-stuff-instead/ Bureau of Labor Statistics, earnings vs formal education degree https://www.bls.gov/careeroutlook/2022/data-on-display/education-pays.htm About Rebel Civics Hosted by Keith Bessette, Rebel Civics covers the principles of society and government, the ideas upon which America was founded, the history of the development of these principles, and current events in relation to them. Rebel (n): A person who is disobedient to unjust authority and stands up for fundamental principles, despite conventions and the opinions of others. Thanks for Watching! The best way to follow Unsafe Space, no matter which platforms ban us, is to visit: https://unsafespace.com While we're still allowed on YouTube, please don't forget to verify that you're subscribed, and to like and share this episode. You can find us there at: https://unsafespace.com/channel For episode clips, visit: https://unsafespace.com/clips Other video platforms on which our content can be found include: LBRY: https://lbry.tv/@unsafe BitChute: https://www.bitchute.com/channel/unsafespace/ Also, come join our community of dangerous thinkers at the following social media sites...at least until we get banned: Censorship-averse platforms: Gab: @unsafe Minds: @unsafe Locals: unsafespace.locals.com Parler: @unsafespace Telegram Chat: https://t.me/joinchat/H4OUclXTz4xwF9EapZekPg Censorship-happy platforms: Twitter: @_unsafespace Facebook: https://www.facebook.com/unsafepage Instagram: @_unsafespace MeWe: https://mewe.com/p/unsafespace Support the content that you consume by visiting: https://unsafespace.com/donate Finally, don't forget to announce your status as a wrong-thinker with some Unsafe Space merch, available at: https://unsafespace.com/shop