The Charlie Kirk Show - The Student Loan Scam Goes Before the Supreme Court

00:00:00.000 Hey everybody, today in Charlie Kirk Show, Joe Biden's bribery scam gets challenged in the U.S. Supreme Court.

00:00:08.000 We dive into great detail about the student loan cabal, the cartel, what could be done about it.

00:00:14.000 It is a deep episode.

00:00:16.000 I think you'll learn something and I'd love your thoughts.

00:00:18.000 Freedom at CharlieKirk.com.

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00:00:31.000 As always, you can email me your thoughts, freedom at charliekirk.com.

00:00:34.000 Buckle up, everybody, here.

00:00:35.000 We go.

00:00:36.000 Charlie, what you've done is incredible here.

00:00:37.000 Maybe Charlie Kirk is on the college campus.

00:00:39.000 I want you to know we are lucky to have Charlie Kirk.

00:00:43.000 Charlie Kirk's running the White House, folks.

00:00:46.000 I want to thank Charlie.

00:00:47.000 He's an incredible guy.

00:00:48.000 His spirit, his love of this country, he's done an amazing job building one of the most powerful youth organizations ever created, Turning Point USA.

00:00:56.000 We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country.

00:01:05.000 That's why we are here.

00:01:08.000 Brought to you by the Loan Experts I Trust, Andrew and Todd at Sierra Pacific Mortgage at andrewandTodd.com.

00:01:17.000 Right now, there is a challenge to Joe Biden's executive order on student loan bribery.

00:01:25.000 The Supreme Court today is hearing oral arguments in a case stemming from Biden's attempt to buy off the American public.

00:01:33.000 You might remember he signed an executive order trying to make law or effectuate some sort of policy change via what was called mass forgiveness on student loans.

00:01:45.000 Now, Biden announced this six months ago, right before the midterms, in an attempt to forgive $10,000 in student loans for every person earning less than $125,000 or every person in a household earning less than $250,000.

00:02:03.000 He also is forgiving $20,000 for every person who benefited from a Pell Grant.

00:02:09.000 Now, what's a lot more radical than the debt bribery or forgiveness is the more important point is how Biden is trying to rewrite the rules for future student loans.

00:02:20.000 His plan is to slash required payments to just 5% of discretionary income, down from 10%.

00:02:27.000 And he's expanding what is considered, quote, non-discretionary income.

00:02:32.000 This means that a huge number of people who have loans and have jobs and aren't in poverty still won't be making any payments on their loans.

00:02:39.000 The government will just forgive all of them for free.

00:02:42.000 Now, this is important.

00:02:43.000 Post the passage of Obamacare, the Affordable Care Act, we've basically nationalized our student loan industry.

00:02:50.000 There used to be a market for private student loans where you would dress up in a suit and tie just like this.

00:02:56.000 You would go to your local banker.

00:02:58.000 If you were a senior in high school, you would present your grades, your career plans.

00:03:03.000 You would look the local banker in the eye and say, my name is Joe Smith, and I have A's in engineering and I have B's in mathematics.

00:03:12.000 And I would like to go to the University of Wisconsin-Madison and I would like a $30,000 loan.

00:03:17.000 And a banker would ask you some questions.

00:03:20.000 The banker would say, well, why should we take a risk on you, this local community bank?

00:03:24.000 And sometimes you'd have to bring your parent to co-sign the loan.

00:03:28.000 And you'd have to all of a sudden understand the significance that signing on the dotted line that this loan has to be paid back.

00:03:35.000 But over the last couple decades, one of the less covered stories when it comes to student loans, and I write about this extensively in my book, The College Scam, which is thoroughly researched with pages and pages of footnotes, is that we've basically nationalized the entire student loan industry.

00:03:52.000 98 to 99% of all student loans are underwritten by the federal government.

00:03:58.000 They're underwritten by the U.S. taxpayer.

00:04:01.000 Now, this is important for a lot of reasons.

00:04:03.000 Number one, no longer does a high school student have to dress up or not even dress up, but just act professionally and go into a local community bank, look somebody in the eye, have to present themselves and say, I would like a loan for these reasons.

00:04:19.000 You are now able to borrow tens of thousands of dollars, sometimes hundreds of thousands of dollars from your pajamas in your basement on a website called FAFSA, F-A-F-S-A dot gov. In fact, almost every college except Hillsdale College requires you to fill out FAFSA for not just student loan grants, not just grants, but any sort of student loans whatsoever.

00:04:44.000 Now, I've said for quite some time, and I argue in my book rather provocatively, that the student loan interest rate has been too low for too long.

00:04:51.000 That if you go study engineering and you have good grades in high school, you should get a much lower student loan interest rate than somebody who is studying North African lesbian poetry.

00:05:02.000 Sorry, it's not as good of a bet for the taxpayer to say that you're going to be able to repay that.

00:05:06.000 Instead, we have a one-size-fits-all model where, regardless of what you're studying or regardless of your grades, you basically get the same student loan interest rate.

00:05:21.000 There's no requirements at all that you would be a good credit risk.

00:05:25.000 No requirement that their degree might be something viable.

00:05:29.000 Look, the entire student loan cabal, the cartel right now, is built around this idea that pretending gender studies are the same as engineers.

00:05:42.000 And they're pretending that academic screw-ups, people that didn't take high school seriously, are the same as academic all-stars.

00:05:49.000 We have way too many people going to college in our country, way too many people.

00:05:53.000 It's unpopular to say that, but it's actually growing in popularity.

00:05:57.000 The college dropout rate is 41%.

00:06:01.000 There are colleges that are folding by the week.

00:06:04.000 There's too many of them.

00:06:06.000 But the actual legal case of this challenge is important.

00:06:10.000 I do want to focus on the student loan component for just a little bit longer.

00:06:14.000 Now, mind you, our audience is a little bit split on this.

00:06:18.000 Some of our turning point USA students are a little bit supportive of getting student loan forgiveness.

00:06:25.000 I don't think they should be, but some of them say, you know, we're $100,000, $120,000 in debt.

00:06:30.000 Others are completely and totally opposed on good principled reasons.

00:06:33.000 Some students approach me on campus and they say, we deserve this.

00:06:37.000 They're obviously less conservative students.

00:06:39.000 And we deserve the student loan forgiveness.

00:06:42.000 And there's a couple of questions.

00:06:44.000 What about what is the answer or the counter to students that worked their way through college, that got a second job, that saved money?

00:06:55.000 The entire idea of student loan bribery is an insult to any student that paid their way through college.

00:07:03.000 What about students that saved money or got money from their parents because their parents decided to save money in a college fund?

00:07:10.000 All of that gets invalidated.

00:07:12.000 What is the answer or the counter to the millions of students that knew they were not going to become professional athletes, but only did sports in college?

00:07:26.000 And sports in college is no joke.

00:07:28.000 6 a.m. practices, intense workouts, traveling frequently, strict dietary standards.

00:07:35.000 No joke to be a college athlete.

00:07:37.000 But a majority of college athletes, if you ask them by the time they become a junior or senior, yeah, I mean, they love the sport, but it's also they get an academic advantage for it.

00:07:45.000 And by the way, they've earned it.

00:07:48.000 But what Joe Biden is basically saying is all those 6 a.m. workouts, all that travel, all that pushing yourself to be able to get college to be more affordable for you, you're lost.

00:08:02.000 So, what Joe Biden has done and is being challenged by the U.S. Supreme Court is by a stroke of the pen, I can come in and I can also say to the people that never went to college, and God bless them, the carpenters, the welders, the police officers, the firefighters, the muscular class, the folks in East Palestine, Ohio, for example, the people that built this country, what do they get out of this?

00:08:26.000 You see, the regime, Joe Biden, unilaterally seems to act in favor of foreign interests and high society elites with the stroke of a pen.

00:08:41.000 This is a quote-unquote bribery, a quote-unquote bailout for people that largely did not make prudent decisions when they decided to go to college.

00:08:52.000 Now, I simultaneously sympathize with some of the complaints.

00:08:57.000 Charlie, I was told I had to go to college.

00:08:59.000 I was told I had to borrow this money.

00:09:00.000 I was told by, I get that.

00:09:02.000 I write about it extensively in my book, and I have sympathy for you.

00:09:06.000 But I do not think having the U.S. taxpayer subsidize your poor decisions is moral, is a good precedent, nor do I think it's constitutional.

00:09:17.000 And we must understand the precedent of which Joe Biden acted.

00:09:21.000 What was his argument?

00:09:25.000 What did he say was happening in the quote-unquote environment that allowed him to act to be able to bribe students and eliminate student loans, student loan debt?

00:09:39.000 Well, the answer is something that history tells us very clearly.

00:09:43.000 He needed a crisis.

00:09:45.000 He needed an emergency.

00:09:48.000 You see, never let a crisis go to waste, as Rahm Emanuel would say.

00:09:51.000 And they saw an opening and they went for it.

00:09:55.000 Every tyrant, every despot, every unpopular leader needs an emergency.

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00:10:43.000 I'm curious about your experience and your perspective on this.

00:10:46.000 Rick said, exactly right, Charlie.

00:10:47.000 In 1981, I had to march into home federal savings and loan here in Columbus, Indiana, go through everything you just described, and come back to have my father co-sign my loan so I could go to university to get my degree in business management.

00:11:01.000 It's a lot of checks and balances.

00:11:02.000 Almost none of that exists anymore.

00:11:04.000 Students are told by their high school guidance counselors to go fill out all this money.

00:11:09.000 If you actually ask students on college campuses a breathtaking amount, and Paul showed this, do not even know the specific amount of money that they owe.

00:11:19.000 And then they use this as a political talking point to get more votes in the future.

00:11:25.000 So go send your best prized possession to colleges.

00:11:28.000 They don't learn almost anything.

00:11:31.000 Be filled with all these bad ideas.

00:11:32.000 Men can become pregnant. 1.00

00:11:33.000 Borders don't matter. 1.00

00:11:34.000 America's evil. 0.84

00:11:36.000 Constitution must be shredded.

00:11:37.000 All of these bad ideas.

00:11:40.000 And then they're simultaneously building this massive debt burden.

00:11:46.000 They graduate and a majority of the students that actually end up graduating will get jobs that do not require a college degree.

00:11:55.000 And even worse than that, 20 to 30 percent end up getting jobs in a completely different field than what they studied.

00:12:03.000 But they're still filled with those bad ideas and they're also filled with resentment that they have this student loan debt around their neck.

00:12:12.000 We should not punish good behavior.

00:12:15.000 And that is exactly what Joe Biden was doing here.

00:12:18.000 Students that decided to go to community college and then go to Four University.

00:12:23.000 You know how many students?

00:12:24.000 They look at their family's financials.

00:12:27.000 They look at their own personal financial health.

00:12:29.000 And yeah, it's attractive if you, let's just take a state, let's just say Tennessee, and all your friends in suburban Nashville are going to University of Tennessee, Knoxville, and they get to go rush in the fraternities and sororities.

00:12:41.000 They get to go to the football games and the basketball games.

00:12:44.000 And your grades are pretty good, but you say, man, I don't know if I can afford that.

00:12:49.000 So instead, you decide to go to the local community college, which is not as exciting as going to go rush in a fraternity or sorority at Knoxville.

00:12:56.000 But you make the prudent financial decision, and then maybe you're able to transfer to UT Knoxville or one of their other campuses.

00:13:04.000 But you kind of missed that freshman, sophomore, freshman, sophomore moment, that kind of chapter in life.

00:13:11.000 But it's okay, but you're in a better financial position. 0.99

00:13:12.000 Then you have to hear the president of the United States basically say, you made a dumb choice. 0.91

00:13:18.000 This only encourages further borrowing. 0.86

00:13:21.000 You get more of what you incentivize.

00:13:25.000 You get more of what you subsidize.

00:13:29.000 But the real baseline of this here is the legal case.

00:13:34.000 And it's pretty boring, but it's important.

00:13:36.000 What the Biden regime is doing is they used a 2003 post-9-11 law that allowed the Secretary of Education to, quote, waive or modify any statutory or regulatory provision in response to a quote national emergency.

00:13:56.000 The Biden administration said COVID is a national emergency, so they can totally ignore all student loan laws.

00:14:04.000 This case is bigger than student loans.

00:14:06.000 And boy, can I go at length about the student loan topic?

00:14:10.000 I could talk about the college scam and the college cartel and how you have to be so careful, those of you in this audience, sending your kids and grandkids to college.

00:14:17.000 You may never see them again.

00:14:18.000 They might become religiously, theologically, philosophically, and politically unrecognizable.

00:14:25.000 Please be careful sending your kids to college.

00:14:28.000 But this case in front of the Supreme Court is much bigger than that.

00:14:33.000 It is, can a president use a declaration of emergency to give one group money, forgiveness, bribery, at the expense of another group without an act of Congress.

00:14:52.000 And they'll try to do this for every possible emergency you can imagine.

00:14:56.000 They'll try to do this for a climate emergency.

00:14:59.000 They'll try to do this for gun violence emergencies.

00:15:03.000 There is no greater threat to liberty in America today than a leader declaring an emergency.

00:15:10.000 And that's a shame because there are legitimate emergencies.

00:15:13.000 There are hurricanes, there are floods, there are tornadoes, there are fires.

00:15:17.000 You need to have the government be able to act quickly and decisively.

00:15:20.000 But boy, is that ability to declare an emergency being abused.

00:15:25.000 Not only is it being abused, it seems as if we have crisis hunters, we have crisis seekers in our government.

00:15:32.000 They go out of their way to try to find a crisis, exploit it to give themselves more power, to become dictator for a day, which becomes dictator for a month, and dictator in perpetuity.

00:15:43.000 U.S. Supreme Court is currently debating this.

00:15:46.000 It's unclear how they're going to rule.

00:15:48.000 And I'm going to maybe give you a little bit of a tease here based on just some public comments.

00:15:54.000 But I am curious just on the student loan issue itself.

00:15:57.000 What are your thoughts on this?

00:15:58.000 How do you feel about subsidizing somebody's poor decisions to go study something that is not applicable to the job market?

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00:19:47.000 I want to read an email here.

00:19:49.000 This is an anonymous email.

00:19:51.000 They said, keep this anonymous, please.

00:19:52.000 But Charlie, I work in enrollment for a particular college.

00:19:56.000 We will sign anybody up for student loans.

00:19:59.000 I considered leaving many times, but I decided to stay to ask the important questions most counselors don't care to ask.

00:20:07.000 Thanks to your program and your podcast, I always ask the following question, quote, why do you need this degree?

00:20:16.000 If they don't have a good answer, I then walk them through whether or not the program of interest is going to have any return on their investment or their debt.

00:20:25.000 God bless you for that.

00:20:27.000 This has led me to sign up way more computer programmers, nurses, and engineers who originally were looking into a communications degree.

00:20:37.000 This debt forgiveness is an awful idea because the majority of admission counselors are not asking these questions.

00:20:45.000 Well, God bless you.

00:20:46.000 Thank you for listening.

00:20:47.000 That's a very powerful email.

00:20:49.000 I want to play a piece of tape here just to kind of show you how focused the Democrats are on this.

00:20:55.000 Let's just actually go back in time to CBS news report.

00:20:59.000 This was the news report on what Joe Biden did, which is just flat out bribery.

00:21:05.000 You should just call it that.

00:21:06.000 It's, hey, if you're a plumber, if you're an electrician, if you work your way through college, if you were a college athlete, too bad.

00:21:15.000 And I really think, before I play 40, I think the college athlete wrinkle has been really not focused enough.

00:21:23.000 It has been de-emphasized, and it should be.

00:21:26.000 College athletes basically work their way through college.

00:21:29.000 In fact, you can make an argument, getting a second job in college or a third job is easier than being a college athlete.

00:21:36.000 I would certainly make that case, especially with some of the high-intensity sports that both men and women go through.

00:21:42.000 The training is so unbelievably rigorous and hard on you.

00:21:44.000 Play Cut 40.

00:21:45.000 To the Supreme Court now, where justices will hear arguments today over President Biden's plan to forgive student loan debt for more than 40 million Americans.

00:21:53.000 Opponents say that Mr. Biden has taken his presidential powers too far.

00:21:57.000 And for now, the program is on hold until the justices make a decision.

00:22:02.000 Now, under the plan, up to 43 million people would be eligible for some student loan debt relief.

00:22:07.000 People making less than $125,000 a year could see $10,000 in debt forgiven.

00:22:13.000 And people who got Pell Grants could get up to $20,000 forgiven.

00:22:17.000 The Congressional Budget Office says the program will cost more than $430 billion.

00:22:23.000 After President Biden announced the plan last August, 26 million people applied before lower courts put it all on hold.

00:22:30.000 A very simple fix to this, by the way, would be to push for colleges to actually be on the hook for the loans that go into default.

00:22:39.000 Or how about this?

00:22:41.000 Requiring these massive hedge funds that call themselves college endowments to start having some skin in the game.

00:22:50.000 I'm going to just go off the top of my head and at the publication of this book.

00:22:54.000 Here it is.

00:22:55.000 Here is, as of the publication of this book, Harvard University's endowment is $41.8 billion.

00:23:02.000 It's probably more today.

00:23:04.000 Yale University, $31 billion endowment.

00:23:08.000 This is a tax-free endowment.

00:23:09.000 Now, that's actually technically a little deceiving.

00:23:12.000 There was a measure where they have to pay an excise tax on profits.

00:23:16.000 It's so small.

00:23:16.000 It's so minuscule.

00:23:17.000 It's so ridiculous. 0.61

00:23:20.000 So I said it was tax-free once and all the fact-checkers came after me.

00:23:25.000 Stanford University, $28 billion endowment.

00:23:28.000 Harvard's at $50 billion now.

00:23:30.000 Thank you, Blake.

00:23:31.000 Princeton University, $26 billion endowment.

00:23:36.000 University of Pennsylvania, $14.8 billion endowment.

00:23:40.000 Oh, now Harvard's, I'm sorry, Harvard is now at $53 billion endowment.

00:23:45.000 To give you an idea, Harvard's endowment is more than the GDP of some countries, just their endowment.

00:23:55.000 And Harvard is able to look at kids and say, we want to take your money so that you could go further and further into debt.

00:24:03.000 So here's the updated total.

00:24:04.000 And again, as of publication of the book, we talk about this at great length, but it just disappeared.

00:24:11.000 Okay.

00:24:12.000 Harvard University, $49 billion.

00:24:14.000 Yale University, $41 billion.

00:24:15.000 Stanford University, $37 billion.

00:24:17.000 Princeton University, $35 billion.

00:24:20.000 MIT, $24 billion.

00:24:21.000 University of Pennsylvania, $20 billion.

00:24:25.000 University of Notre Dame, $16 billion.

00:24:27.000 Northwestern and Illinois, $14 billion.

00:24:32.000 Columbia, $13 billion.

00:24:34.000 Washington University in St. Louis, $12 billion.

00:24:36.000 Duke University, $12 billion.

00:24:38.000 University of Chicago, $10 billion.

00:24:39.000 Vanderbilt University, $10 billion.

00:24:41.000 Emory University, $9 billion.

00:24:42.000 Cornell, $9 billion.

00:24:43.000 Johns Hopkins, $8 billion.

00:24:45.000 Dartmouth, $8 billion.

00:24:46.000 The only one that I'm actually supporting the endowment to get bigger, the two, Liberty University and Hillsdale, are finally getting into the billions.

00:24:52.000 Praise God.

00:24:53.000 They deserve it.

00:24:54.000 They need it.

00:24:54.000 They actually invest in their students and don't teach their kids to hate America.

00:24:59.000 Mind you, that's a total right near $700 billion in college endowments.

00:25:08.000 And you have to go pay more taxes to go send money to Ukraine.

00:25:12.000 You have to go pay more taxes to go bail kids out because they studied something silly.

00:25:18.000 How about this?

00:25:19.000 Congratulations, Harvard, on your $53 billion endowment.

00:25:24.000 We're going to take $10 billion of that because you haven't paid capital gains tax on that.

00:25:30.000 Because one of the advantages of the scheme that exists is they're able to reinvest that basically effectively tax-free with some excise taxes here or there.

00:25:43.000 Why don't you have to be on the hook for the damage that you've proliferated with these kids?

00:25:49.000 And by the way, my passion on this topic to try and have these colleges pay for this would be a little less if they actually were producing fruit that loved America.

00:26:03.000 They are the Wuhan Institute of Virology equivalent of idea pathogens in our country.

00:26:10.000 Every bad idea that we have seen infect our military, infect our corporations, infect the core fabric, fiber of our society originates on campuses.

00:26:27.000 It's a real question.

00:26:28.000 Is this an alleged money laundering scheme to pay off colleges for their Marxist indoctrination?

00:26:35.000 Let's play another piece of tape here.

00:26:37.000 Cut 43, Corey Bush, she calls it student loan relief.

00:26:41.000 Play Cut 43.

00:26:43.000 Student debt relief, student debt relief plan, it takes significant steps to reducing the racial wealth gap.

00:26:50.000 And I'm going to address that. 0.87

00:26:52.000 We know that black girls, specifically black women, carry the heaviest student debt burden.

00:26:59.000 We know that black women already struggle with wage discrimination.

00:27:03.000 We earn on average 58 cents for every dollar a white man earns. 0.86

00:27:08.000 That ain't right.

00:27:10.000 That is a lie.

00:27:12.000 If you study the same thing that a white man earns, if you're in the workforce for as long as a white man is, the wage gap disappears. 1.00

00:27:21.000 In fact, actually goes to an advantage for females. 0.56

00:27:23.000 In the major metropolitan areas across America, New York, Seattle, San Francisco, Portland, Los Angeles, women are earning more than men.

00:27:31.000 Women are graduating college more than men.

00:27:33.000 Women are getting a master's degree more than men.

00:27:35.000 And for the first time, women are now getting doctorates more than men.

00:27:38.000 Women are less likely to die at work.

00:27:41.000 Women are less likely to commit suicide.

00:27:43.000 Women are less likely to die because of drug overdose.

00:27:49.000 So spare me the racial oppression Olympics, Corey Bush.

00:27:56.000 I want to play another piece of tape here.

00:27:58.000 Remember, Nancy Pelosi once said the president doesn't have this authority, but who's actually keeping track of this stuff?

00:28:03.000 Play Cut 42.

00:28:05.000 People think that the President of the United States has the power for debt forgiveness.

00:28:10.000 He does not.

00:28:11.000 He can postpone.

00:28:13.000 He can delay, but he does not have that power.

00:28:17.000 That has to be an act of Congress.

00:28:20.000 It has to be an act of Congress, she says.

00:28:23.000 Dictators and despots need emergencies.

00:28:28.000 And I understand I'm reading some of these emails.

00:28:30.000 They say, well, Charlie, I was told to go to college and now I'm a hunt.

00:28:34.000 This is a real email.

00:28:35.000 $135,000 in debt.

00:28:37.000 This helps me.

00:28:38.000 Sorry, I'm a conservative, but I deserve the bailout.

00:28:42.000 No, you don't.

00:28:43.000 No, you don't.

00:28:45.000 Yes, you were lied to.

00:28:47.000 Yes, you were deceived.

00:28:48.000 Yes, you were swindled.

00:28:50.000 But you have agency and you need to take responsibility for your actions.

00:28:56.000 If there was any organization or institution that I would sympathize with to make your journey easier, it would not be the U.S. taxpayer.

00:29:05.000 It would be colleges.

00:29:07.000 It would be these massive hedge funds that are sitting on this money. 0.95

00:29:10.000 But do not tell me, the family that cannot afford to put food on the table, that is an electrician in Birmingham, Alabama, that he has to go pay more taxes because you decided to go get a lot of degrees to go study some really dumb ideas.

00:29:32.000 I feel sorry for you that you got swindled and you got deceived.

00:29:35.000 That is not the responsibility of the American working muscular class to bail you out. 0.72

00:29:43.000 So what should we do about this?

00:29:45.000 Well, this is one of the major issues facing young people.

00:29:49.000 And while I don't think the American taxpayer, specifically you, should have to bail out somebody's bad decisions, I do think that there needs to be some compassion and some movement towards holding somebody accountable.

00:30:05.000 And that somebody, I think, should be these universities sitting on these massive cash piles.

00:30:10.000 This one right here, what a great email.

00:30:12.000 This one, and I responded to it.

00:30:14.000 Charlie, I paid back $24,000 in student loans, plus I paid $50,000 of my two daughters' student loans.

00:30:24.000 Do I get a bailout?

00:30:26.000 Now, the left is not moved by this argument.

00:30:28.000 They say, oh, you have money, you have rich parents.

00:30:29.000 Wait a second.

00:30:30.000 You know how many parents sacrificed for decades, took modest vacations or no vacations at all, didn't go out to eat as much to try to build the college fund.

00:30:43.000 We are one of the most troubling financial trends in America is how we are disincentivizing saving.

00:30:52.000 A nation that saves is a nation that lasts.

00:30:56.000 Now, how are we disincentivizing saving?

00:31:00.000 Well, first of all, artificially low interest rates for 20 years has encouraged reckless spending and malinvestment.

00:31:09.000 That's why we are going to go through a recession because some of these bad investments need to pop.

00:31:14.000 You can't keep on subsidizing bad businesses through all this government money and expect that to be a sustainable business model.

00:31:22.000 There are going to have to be 10 to 15 to 20% of businesses that have to go through either laying off employees, closing down altogether, merging, getting acquired.

00:31:32.000 America is at its best, or was at its best, when delayed gratification was a core value.

00:31:40.000 The West was built on delayed gratification.

00:31:44.000 That seems so simple and so obvious, yet it is so rare to hear a leader say that.

00:31:50.000 Our national debt, which is now $31 trillion, is a byproduct of not believing in delayed gratification.

00:31:58.000 The student loan crisis, a nation that storms Normandy Beach that we saw in World War II, by definition, was saying, I might die so that my grandkids can live free.

00:32:11.000 Morally, we have gone off track.

00:32:13.000 This is all an outgrowth of having our priorities all messed up.

00:32:17.000 And Biden's attempt to try and fix it is even worse.

00:32:21.000 It's saying we're going to punish the people that made the good decisions.

00:32:26.000 So imagine if we tried to fix the housing crisis by just having the government pay off 50% of outstanding mortgages.

00:32:33.000 We screw up the people who bought modest homes they could pay off earlier.

00:32:37.000 We then screw over people who rented or who bought cheaper homes with lower mortgages.

00:32:43.000 We'd rob half the country to help the other half and would make the price of housing go way up.

00:32:48.000 That is exactly what is happening right now with college.

00:32:52.000 And I hope Joe Biden is unsuccessful.

00:32:54.000 We have Amy Coney Barrett, man, I don't know.

00:32:58.000 It's impossible to know how they vote, but her questions are a little troubling.

00:33:03.000 Neil Gorsuch, straight as I would expect, very wonky answer, you know, rigid constitutionalist.

00:33:10.000 He'll be fine.

00:33:11.000 Kavanaugh, no idea.

00:33:12.000 Clarence Thomas, no way he'll go along with this Alito.

00:33:15.000 There is no mystery on this vote in my personal guess on Thomas or Alito.

00:33:21.000 I think they're going to be just fine.

00:33:22.000 Thomas Alito Gorsuch, fine.

00:33:23.000 Roberts might as well just support it or write the opinion of the minority at this point.

00:33:30.000 It is tempting to want to use the power of the purse or the treasury to buy votes.

00:33:37.000 Every failed civilization has leaders that emerge that have no talent, no popularity, but then use the public treasury to try to win favor of the people that they want to control.

00:33:48.000 And what's so sick about this is it's not a ton of money.

00:33:52.000 It's just enough to have you come back groveling for more.

00:33:56.000 I'm not saying that $10,000 is not a lot of money, but in the scheme of things, debts vary from 30 to 40 to 50 to 60 to 70 to $80,000 in student loan debt.

00:34:06.000 And the crux of all of this is Joe Biden needed the COVID emergency.

00:34:11.000 That's what he used as his justification.

00:34:15.000 That COVID, the Chinese coronavirus that came from a lab, was the reason why a stroke of a pen, he should be able to eliminate somebody's debt burden. 1.00

00:34:27.000 An insult, a middle finger to those of you that sacrificed, worked second jobs, played college sports for you parents that had a college fund, that helped your kids through college, that went to community college.

00:34:38.000 Why Republicans did not make this a bigger issue in the midterms is a mystery to me.

00:34:44.000 Maybe you would have saw those extra couple hundred thousand Trump voters turn out the muscular class members that seemed to not care about voting.

00:34:51.000 But I rest my case.

00:34:54.000 Thanks so much for listening, everybody.

00:34:56.000 Email me your thoughts as alwaysfreedom at charliekirk.com.

00:34:59.000 Thank you so much for listening, and God bless.

00:35:04.000 For more on many of these stories and news you can trust, go to CharlieKirk dot com.

The Charlie Kirk Show - February 28, 2023

The Student Loan Scam Goes Before the Supreme Court

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