James Lambert
Biden & Dems' plan to cancel college student debt clearly has negative consequences
By James Lambert
April 25, 2022

With the federal national debt now hovering around $30 trillion dollars, it should be clear to most of us that this growing national debt is ultimately bad for our country.

Already the cost of college is way over the top. I have friends who have paid over $60,000 a year for their son’s or daughter’s college education. As someone who was once on a state college board, I know that (CA. state) professors are making over 120,000 a year (and much more in many cases).

My simple question is: what, if any, keeps our colleges from keeping their student academic costs down? If anything, the annual or semester cost consistently increase every year. The costs of college education have become so expensive that most of us have to borrow (federal and private) money to put our children through college.

If the federal government persists on paying off federal financed student loans, this will only encourage college and university boards to increase their annual tuition fees. They will reason that if the government eliminates student debt, their students could now clearly afford higher tuition. This only makes sense to them.

But what the public doesn’t realize is that this debt payment (estimated at around $1.6 trillion) will only hurt the public at large. There will come a time when interest rates will continue to increase to the extent where the government WILL HAVE TO increase federal taxes.

Along with the prices of goods and services increasing due to inflation, this (federal tax increase) will sincerely hurt our economy. Clearly, this is an effort by Democrats and the Biden Administration to buy votes from parents of college / university students.

Already, we’ve have discovered by polls that most colleges have professors who profess to have liberal leanings and are supporters of the Democrat party. Well over 75% of today’s colleges have professors that lean to the left. Is it any wonder that they support this initiative?

Biden’s initiative should be stopped. I encourage you to make a simple call to your local House of Representative Congressional member or U.S. Senator and voice your opinion. Call the Congressional operator at (202) 224-3121 and name the Congressional Representative or Senate office you wish to call. They will transfer you over to their number. If a person from their office does not answer the phone you can, at least, leave a message and voice your opinion.

Certainly, it is worth taking 5 minutes out of your day to do this … thanks!

© James Lambert


The views expressed by RenewAmerica columnists are their own and do not necessarily reflect the position of RenewAmerica or its affiliates.
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James Lambert

James Lambert has a broad business background. After receiving his undergraduate degree from Linfield College (McMinnville, Oregon), Lambert pursued a career in banking by working in various management capacities for Crocker Bank, San Diego Trust & Savings Bank and First Interstate Bank (between 1973 and 1995). By 1990 Lambert received his Master in Business Administration from National University (San Diego). For 3 years, Lambert also taught Finance at Mira Costa Community College... (more)


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