One group that stands to gain from the $300 billion student loan giveaway is the administration of President Joe Biden. On Wednesday, the president stated that for Americans making less than $125,000 a year, or families making less than $250,000, the federal government would swallow up to $10,000 in student debt.
Some members of the Biden administration who make less than the cutoff wage have college loans that have yet to be paid off. At least 12 West Wing employees may be eligible for the Biden freebie, according to the monitoring group Inside Biden’s Basement.
Today, President Biden will announce student loan debt relief for borrowers that need it most – building on his promise to grow the economy from the bottom up and middle out. pic.twitter.com/aa0wSYQOWa
— The White House (@WhiteHouse) August 24, 2022
The watchdog organization claims that Claudia Chavez, Hee Jung L Shim, Chris Meagher, John McCarthy, Rory Brosius, Justin Oswald, Maju Varghese, Michael LaRosa, Kelliann Blazek, Michael Leach, Shilpa Phadke, and Zephranie Buetow are all eligible for Biden’s handout because they earn less than the threshold and have outstanding loans.
Inside Biden’s Basement claims that 336 out of 474 White House personnel make less than $125,000 per year, yet the salaries of over 300 of these workers have not been made public. Agency officials are not included in the statistics from Inside Biden’s Basement; they make up a distinct 175-person monster.
According to Derrick Hollie, the director of communications for Inside Biden’s Basement, speaking to Fox News Digital, Obama said he only needed “a pen and a phone” to enact policy, despite the fact that his proposals were dead on arrival in Congress and would face a tough fight in court. “With today’s student loan forgiveness Executive Order, President Biden is following suit with what appears to be a major pay raise to some of his closest aides and political lackeys hiding Inside Biden’s Basement.“
“Nearly 71%, or 336 White House officials, earn under the $125,000 threshold, and even more could be eligible under the household income cap. Counting the agencies, Inside Biden’s Basement has identified over 200 officials who may be eligible for this Biden handout on the backs of taxpayers,” Hollie continued.
He added that knowing that hundreds of financial reports showing possible student loan debt remain to be publicly disclosed by the White House and government agencies, the amount of Biden officials who stand to gain from today’s EO is astonishing. “And the people who will be footing the bill are those who scraped, saved, and sacrificed to pay off their debt, or avoided taking out loans altogether, and those who did not attend college but still have to deal with Biden’s record-high inflation and recession-laden economy.“
For his part, White House spokesperson Andrew Bates told Fox News Digital that he is “unfamiliar” with Inside Biden’s Basement, which he referred to as a “club,” and that “the relief the President just gave applies to millions of Americans regardless of workplace.“
According to Bates, “43 million qualified borrowers now have support accessible to them, regardless of whether they work for Fox News, another private firm, or the Republican Senate office. Nearly 90% of the benefits will go to individuals with incomes of $75,000 or less, while those with incomes of $125,000 or more would receive nothing.“
“This is the flipside of congressional Republicans’ 2017 tax handout to the wealthiest, 85% of which went to individuals earning more than $75,000,” he noted.
The first details of Biden’s student loan distribution plan were revealed on Wednesday, marking the first action from the president to make through on a hallmark campaign pledge.
Some economists worry that a nationwide write-off of student loans would solely benefit the wealthy. National student loan debt has reached over $1.6 trillion, a staggering figure that has been steadily rising for years. The most recent government statistics show that over 43 million Americans have federal student debt, with about a third owing less than $10,000 and over half owing less than $20,000 in total.
To help people get back on their feet after college, President Joe Biden has announced that the federal government will forgive up to $20,000 in student loan debt for those who attended college with the help of Pell Grants and $10,000 in debt for those who did not obtain Pell Grants. Biden stated that “only those earning less than $125,000” will qualify for the forgiveness.