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FOR IMMEDIATE RELEASE: August 24, 2022
CONTACT: [email protected]
Leora Levy Denounces Decision to Cancel Student Loan Debt
GREENWICH, CT - Earlier today the Biden Administration extended the student loan moratorium and canceled $10,000 in student debt for borrowers making less than $125,000. After a recent Penn Wharton Budget analysis showed a majority of the relief will go towards borrowers in the top 60% of earners, political outsider for U.S. Senate Leora Levy denounced this decision.
"Once again, Democrats are replacing personal responsibility with another Government hand-out, spending taxpayers’ hard-earned money to pay for other peoples’ loans. Not only will this encourage others to take loans that they cannot afford to repay, it will also further drive skyrocketing inflation. Democrats are forcing a transfer of wealth from those who elected to pursue a trade, live frugally to pay off their own debt or took no debt, to adult Americans who knowingly chose to take on more debt than they could afford to repay. This is unfair, wrong and it is socialism: you might get bailed out today but you will be working to pay for everyone else’s bailouts for the rest of your “tax-paying life.” This will do nothing to address college affordability for CT families and will only encourage colleges and universities to raise their prices thinking that the Government will just bail the borrowers out again!
“Hard-working taxpayers should not have to pay the loans of borrowers because Democrats want to seduce some voters with hand-outs just before the midterms. It is not the taxpayers’ job to repay personal debts. Instead of leading our nation out of a recession or doing what is right for the American People, Joe Biden is kowtowing to the Progressive Left.”
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