Watters: Biden student loan handout 'is reverse class warfare
Jesse Watters and the panel on 'The Five' sound off on President Biden's handout to upper-income debtors.
President Biden is doing the opposite of the mythical Robin Hood by "rob[bing] the poor to pay the rich" by unilaterally giving a $300 billion handout to student loan debtors that will be paid for by taxpayers who either did not attend college or who responsibly paid off their loans, Jesse Watters said Wednesday on "The Five."
"I just want to congratulate all the rich Whites with graduate degrees who live on the coasts and are making six figures. You really are the forgotten men and women of this country," Watters said. "And you finally now have a president that feels your pain."
Watters said many of the people who will see their loans erased by the U.S. taxpayer are making around $125,000 per year, adding that some of the logic behind the stated need for the unilateral action is flawed.
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President Biden is living up to a promise to dismiss student loan debt - but at what cost? (REUTERS/Kevin Lamarque/File)
"To Liz Warren's point, if this is a historic economy that we've never seen before, why are people even living in their basement saddled with student debt who can't start a business? It doesn't make any sense," he said.
"You cannot raid the Treasury and then cut checks to your favorite voters. Where did Biden get the power as the president to spend half a trillion dollars? That's Congress's job."
Watters said Biden is basically "stealing" Pelosi's purse and bribing his base before a key election – pointing out that Speaker Pelosi herself declared in 2021 only Congress could do such a thing under the Constitution.
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Secretary of Education, Miguel Cardona gives the thumbs up in Upper Darby, Pa. (Pete Bannan/MediaNews Group/Daily Times)
"This is reverse class warfare. It's like you rob the poor to pay the rich. You're going to get a plumber's family to pay off the loan of a graduate school family that's making a quarter million dollars a year -- Why should I have to pay or anybody have to pay for my neighbor's graduate degree?" he asked.
"You know, you look out across the street, you see your neighbor's daughter. She just backed into your mailbox. She's always been an idiot. And now you have to pay for her to get an advanced degree in Estonian poetry. I mean, it doesn't make any sense at all."
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Biden/Cardona (OLIVIER DOULIERY/AFP via Getty Images)
Watters predicted Biden's action will be the first of an unending series of handouts to white-collar liberals, with the amount handed-out increasing exponentially each time.
"It's never going to stop. And then people are just going to keep borrowing and keep going into these schools, because that's what this is about. This is about hooking more students into these universities where they get indoctrinated by the left. That's what this is really about now."
Watters also disagreed with Biden's defense that Republicans' tax cuts left out these white-collar debtors, pointing out that everyone who pays taxes by definition gets a tax cut.
"It's not like Donald Trump cut taxes for males in the swing states of Ohio and Florida and North Carolina three months before the midterms. That's not what he did," Watters said. "Everybody got it across the board tax cut. He didn't transfer wealth to pay off people's loans.."