Biden’s About To Pump Up Inflation Even More

It came as a nasty surprise to conservatives to learn that part of Biden’s latest huge spending bill (the bizarrely named “Inflation Reduction Act”) hires 87,000 new IRS lackeys.

These agents are allegedly to make sure taxes get paid fairly, but we all know they are to rake money from the middle class and crack down on political opponents.

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Take a look at any authoritarian regime from Castro’s Cuba to Hitler’s Germany. You will see how tax authorities and labyrinthine government bureaucracy were used as instruments of terror to subjugate the people and silence dissenters.

Part of the increased tax dollars coming from these suits is going to help pay for the student loan debt forgiveness that Biden is forcing through. What this will do, in turn, is jack up inflation.

Here’s why…

Inflation Disaster on the Horizon

Inflation is already bad enough but unfortunately, it’s slated to get much worse, particularly as a result of ham-handed idiotic policies, like this latest student loan insanity.

Let’s call this student loan pandering what it is: welfare. It’s simply taking a sector of the population who’s already sunk themselves into debt and saying “no problem; here’s some money, you’re home free.”

It’s the epitome of the government picking winners and losers, which they’ve shown a real inclination to do in pushing green energy and trying to move us into a socialistic nightmare in which free enterprise is crushed.

Atlas Shrugged, where all capitalism and free enterprise are crushed, was supposed to be a dystopian warning. Though Biden and his creepy globalist handlers seem to be using it as an actual guidebook to collapsing the United States and deindustrializing our heartland.

Forgiving the student loan debt is going to pump up our deficit and inflation and raise prices of already expensive universities.

Here’s the Problem

The debt forgiveness is going to hit taxpayers to the tune of $1 trillion and a minimum of $300 billion over the next decade. Though it’s also highly dangerous because it puts the enormous resources of the federal government as a backstop to student debt.

This gives universities, which are already bloated and full of fraud, enormous incentives to milk the federal bureaucracy and coffers for all they’re worth.

Students don’t have to worry because the debt will get forgiven eventually anyway. Universities don’t have to worry because they can keep riding the circle-jerk money train as long as they want in an incestuous relationship with the US government.

This welfare is not absolute. Though many students will see tens of thousands in debt wiped away overnight.

This is great, for them, but it’s very bad for inflation and our economic future; it points to a disturbing trend of the government starting to take over entire sectors of our economy.

Just Trust Us…

The White House’s message, along with that of key backers like Senator Elizabeth Warren of Massachusetts (“Taxachusetts” is more accurate), assures us this is a big win.

They say it’s popular, so it’s clearly the right course of action. They say don’t worry about how much it costs, we’re not sure, but everything will work out. “Just trust us.”

Remember when they said similar words during lockdowns and the COVID “vaccines?” I don’t know about you, but my skepticism and disgust with this administration are off the charts.

This article appeared in StatesmanPost and has been published here with permission.

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