As promised, the Biden-Harris regime thumbed their noses at the Supreme Court after its ruling against student loan forgiveness. The White House announced Friday that they went with a different plan.
According to CNBC:
The Biden administration announced Friday it would automatically forgive $39 billion in student debt for 804,000 borrowers. The relief is a result of fixes to the student loan system’s income-driven repayment plans. Under those repayment plans, borrowers get any remaining debt canceled by the government after they have made payments for 20 years or 25 years, depending on when they borrowed, and their loan and plan type.
In the past, payments that should have moved a borrower closer to being debt-free were not accounted for, according to the Biden administration.
“For far too long, borrowers fell through the cracks of a broken system that failed to keep accurate track of their progress towards forgiveness,” U.S. Secretary of Education Miguel Cardona said in a statement.
To bring people over the line for forgiveness, the Biden administration counted payments for borrowers who’d paused their payments in certain deferments and forbearances and those who’d made partial or late payments.
To put this into perspective, this new plan is a smaller version with tighter restrictions than the one struck down by the Supreme Court. The original plan would have stolen taxpayer money to pay off loans made by 37 million instead of 800,000.
According to The Gateway Pundit:
These 804,000 borrowers will be notified on Friday by the Department of Education and relief will begin 30 days later. Individuals who do not want debts discharged are encouraged contact their loan service providers.
This new plan is part of previous “fixes” to other programs the Regime believes were failing borrowers. ABC News notes that this includes $45 billion to people enrolled in Public Service Loan Forgiveness who weren’t getting the debt relief and $22 billion to borrowers who were defrauded by for-profit colleges.
The move by the Education Department is quite audacious considering the Supreme Court struck down Joe Biden’s lawless program to cancel debt relief back in June.
Despite the greatly reduced number of beneficiaries, this is still a major blow to common sense. It also sets the stage for further theft of taxpayer dollars using similar loopholes in the future.
Sound off about this development on my Substack.
Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
MANIACLE. ILLEGAL. MORONIC. ASSININE. DEMORALIZING. This is OUR PRESIDENT?
America was once damn near ‘GREAT”. It is a literal SHITHOLE COUNTRY starring ASSHOLES who are simple and obviously CORRUPT.
Glad I control how much tax I pay annually now. None in 2022. Knowing I am not contributing to this AWFUL CABAL known as the OBIDEN CABINET and EVERY OTHER PUKE ‘appointment’ this clown and ‘company’ have foisted upon all of us remaining Americans. It is an assault upon all things positive and then to GIVE AWAY YOUR TAX DOLLARS to a bunch of PUSSIES? You can, I WILL NOT.
PS: I PAID MY STUDENT LOAN BACK before America became the COUNTRY OF MORONS.
The Regime is trying to buy votes with taxpayer money. Many of us repaid our student loans in full, no questions asked. The Regime obviously has more sympathy for people who still owe than it has for citizens who paid their debts. They are typical stupid people. Those who paid their debt now have the obligation to pay the debts of others according to the Democrat regime. So remember when you vote, a vote for a Democrat, is a vote to pay the debts of others. Vote for smart people; Democrats are not smart people so vote for someone else.
There was a time that your stuident loan payments paid off your loan in 7 to 10 years. Now they’re looking at forgiving the balance after 20 to 25 years of payments. So, if you took out your loans in 1995 and started repayment in 2000, you are looking at having the balance wiped out. I fail to understand how, after 20+ years, you still have any balance, much less any SUBSTANTIAL balance. But you have a home, an expensive car payment and probably loads of credit cards with decent balances. The proof of this is all those that haven’t paid student loan payments in 3+ years, but have all those things AND haven’t put aside any of the money that should have gone towards the loans.
The only saving grace is the fact that cancelled debt is counted by the IRS as INCOME. Won’t that be a kick in the pants when they get the form at the end of the year that they had $80,000 in additional income and they owe tax on it.
What’s next, you took out a 30 year mortgage and you’ve paid on it for 20 years, so now we’re going to eliminate that debt also? I fail to understand how they just see free money and absolution of their poor choices with zero thought of where the largess is coming from.