According to Democrats, Biden reportedly wants to usurp authority to force working and middle class Americans to bailout the rich.
Don’t take our word for it…take theirs.
Nancy Pelosi said in July 2021 that Biden “does not” have “the power for [student loan] debt forgiveness.”
NANCY PELOSI in April: “People think that the president of the United States has the power for [student loan] debt forgiveness. He does not.”pic.twitter.com/0iz8uQeKXG
— RNC Research (@RNCResearch) August 23, 2022
And liberal economists, including former presidential advisors, have called student debt cancellation “highly problematic,” “highly regressive” and likely to contribute to “inflation pressures.”
Student loan relief is not free. It would be paid for. Part of it would be paid for by the 87% of Americans who do not benefit but lose out from inflation. Part of it would be paid for by future spending cuts & tax increases—with uncertainty about who will bear those costs.
— Jason Furman (@jasonfurman) August 19, 2022
So a potentially illegal bailout of rich people who went to college paid for by those who didn’t go. Yikes. That’s quite an indictment of Biden, and it’s coming from Democrats.
