One of my favorite sayings is, “Don’t write a check with your mouth that your ass can’t cash!” However, when it comes to the current student loan issue…I will need to rephrase that to: “Don’t sign a loan agreement and then ask my ass to pay it back!”
In the current political silly season of how much can a candidate give away to get votes, student loans are are the ultimate voting booth carrot. The voting block of people that owe student loan debt is huge! Which is why sociopathic politicians are writing checks with their mouths that the rest of us will have to cash.
The phrase “wipe away” is commonly used by candidates when referring to eliminating the trillion dollars in student loan debt.
Wipe away? Wipe away where? Who is going to wipe it?
The answer is me and you! Middle-class America. Fly-over America. Scrimp-and-save-with-a-budget America. Prudent-planning America. Not writing checks with our mouths that our ass can’t cash America.
Those of us who took a basic economics class in college (or high school for that matter) understand that debts have to be paid by someone. There is no “wiping away,” and it’s magically gone. Life doesn’t work that way, and neither will this “student loan forgiveness.”
I understand the toll, stress, headache, worry, and weight that outstanding loans can take on a person. I get that paying back the money (that you legally owe!) is a royal pain in the ass. My wife just told me about her brother’s son who still has 15 more years to pay off his student loan. That sucks, but that is what he signed up for. It’s a legal agreement . It’s a contract.
We can all get lost in the valid argument of the high cost of a college education, but that is not the point. The point is that the people that have student loan debts have to legally pay it back. No exceptions. No bailouts. No forgiveness. No “wiping away.”
Reality is a bitch, and life’s ongoing reality checks will continue to be challenging. So what’s next…. forgiving car loans? Forgiving home loans? Forgiving credit card debt? Where does it end?
I’ll tell you where it will end… and the final tipping point for the majority of Americans.
That time will be when you ask the rest of us to pay for it… and be the “wipers.” God help us all if that happens because our friends in Washington, DC will see a revolt and backlash like never before.
Bottom line… it’s your ass, not mine that has to pay back the loan.