Biden Torched on False Narrative of Student Loan Debt Transfer

On Wednesday, Joe Biden was finally back at the White House.

He took the day in the office to crush the American working class again.

Biden unveiled his student debt transfer order (although he calls it student loan forgiveness).

Virtually everything out of his mouth is a lie, and this is a move that may get the Democrats some votes, but it is something that will buckle us financially in the near future.

Devastating to Working Class

This is not loan forgiveness because the money has already been paid out.

Someone will be picking up that tab, and it will be us.

With the country on the brink of a recession, Biden has decided that November voters are more important than not lighting that fuse.

Former Barack Obama economic adviser Jason Furman obliterated Biden on this.

He wrote, “Pouring roughly half trillion dollars of gasoline on the inflationary fire that is already burning is reckless.

“Doing it while going well beyond one campaign promise ($10K of student loan relief) and breaking another (all proposals paid for) is even worse.”

Biden keeps referencing that loan repayment will begin in December, claiming that money will be coming into the treasury to offset student loan debt transfer.

But, again, that money is owed, so it is NOT funding this order, which Furman also noted.

He stated, “You can’t use one baseline (interest payments suspended) to argue this will constrain demand & then a different baseline (interest payments restored) to describe the benefits.

“That is incoherent, inconsistent & indefensible cherry picking – I hope the White House doesn’t do it.”

Penn’s Wharton School of Business estimated that the $10,000 program would cost American taxpayers $300 billion, but Biden is offering up to $20,000 based on Pell Grant status, so the overall total will be much more.

Biden’s “experts” tell him that this will not impact inflation, but that is a reach.

These people are shills, as the experts with no ties to this administration all agree this will accelerate inflation and a recession.

There is also another very real danger here.

Because of student loan debt transfer, we will probably have more kids recklessly entering colleges, knowing they have a “forgiven” loan on the books.

That makes college a seller’s market, meaning prices will rise.

Furman also touched on this, stating, “There are a number of other highly problematic impacts including encouraging higher tuition in the future, encouraging more borrowing, creating expectations of future debt forgiveness, and more.

“Most importantly, everyone else will pay for this either in the form of higher inflation or in higher taxes or lower benefits in the future.”

Biden is lying and he has created yet another looming economic disaster for this country.

Let me say it again… how much damage can Joe Biden do in four years?

If you used that question to justify voting for him over Trump in 2020, this mess is also on you.

Source: Fox News

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

29 Responses

    1. AGREED. HE WAS BORN A LIAR AND WILL DIE A EVIL LIAR.
      WHEN IS THE FBI GOING TO RAID THE CRIMINAL BIDEN FAMILY…I GUESS NEVER, BECAUSE “DEMORATS ARE ABOVE THE LAW” AND COULD DO ANYTHING THEY PLEASE TO DESTROY AMERICA.
      “BIDEN’S OUT OF CONTROL SPENDING, PRINTING FAKE $TRILLIONS. BIDEN’S OPEN BORDERS”, DEFUDNING THE POLICE, AND DOES NOTHING TO STOP THE VIOLENCE AND KILLING OF INNOCENT PEOPLE.
      BIDEN IS BUILDING A $500,000 WALL AROUND HIS HOUSE AND YOU KNOW WHO WILL BE PAYING FOR IT, THE AMERICAN TAXPAYERS.
      THE VOTERS MUST VOTE OUT EVERY CRIMINAL CORRUPT DEMORAT,,

        1. THIS IS EXACTLY WHY WE HAVE TO IMPEACH THIS IDIOT NOW AMERICA CANT SURVIVE FOUR YEARS OF BIDEN PLUS WHY THE RAT PARTY HAS TO BE STOPPED FOR EVER HOLDING ANY OFFICE IN AMERICA.

      1. You are full of it & of course you are a dimwit liberal as well ! Trump was the best president we ever had! He loves this country & its people & never took one penny for it !Biden is so crooked besides being an Habitual liar, Senile & a pervert! You need some mental help! I hope you wake up what brain you have if any !

    2. I would care less if I read in the paper Biden had a good heart attack or stroke. Same for his cabinet, buddies in congress, and financiers like Soros. Praying daily something happens.

      1. No common sense ? Really Ocs you must not have any sense remember Trump kept all of his campaign promises and Biden lied thru his teeth campaigning lies. Trump had our economy better than the moron Biden ever did or could. You Ocs need to educate yourself before opening your mouth

    1. He is doing just that. The American People better wake up now, before America is gone forever.

  1. Hey Joe Biden, I guess it is alright now for me and other tax payers who worked, saved, sacrificed to put themselves and their children through college to quit paying Federal income tax until we recoup $10.000 of the many thousands paid for college.

  2. He has no clue about money. We paid for our grands and we don’t want to pay for those who want free. Help America. We need leadership

  3. The American people have had enough of his lies and being screwed over. And how are the taxpayers supposed to pay for this? Increased taxes!! Biden is trying to bankrupt all of us and put us on the welfare rolls. It’s coming to that shortly. The midterms can’t come soon enough.

  4. We have to replace all the career politicians. They build to much power, foreign leaders learn they can be bought/control even if having to use family members

  5. Ocs- if you believe the crap show Brandon has orchestrated could “just happen”, there are a few bridges I can sell you at a great price.

      1. Yes he is. Ocs needs his brain examined. Such a troll. Not sure how any of these kind cant see thru Bidens bad policys.

  6. Is it wrong for the worker to pay for the worthless? Certainly. But do the Democrats care? Of course not. They know that they can do whatever they want without adverse consequences and get votes from the ignorant for doing it ( that and their usual fraud will keep Democrats in office). They know this from previous experience.

  7. If we don’t have President Biden we are stuck with Kamala, if she can’t take the heat we have Nancy. Might as well have the Three Stooges in charge. Sorry the Stooges were smarter.

  8. It is really quite easy to see the clown president lie : just watch for when he opens his mouth ! What a disgrace to the office this slimy dirtbag is !

Leave a Reply

Your email address will not be published.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

PRESIDENTIAL NEWS

CONGRESSIONAL NEWS

GOP CHAIR TWEETS

Nevada gas prices are higher today than yesterday, than a week ago, than a month ago, and than a year ago.

But instead of standing up for American energy, Cortez Masto supports a lithium mining company with ties to communist China!

[email protected] is calling out Biden and the Democrats’ failure to take the rainbow fentanyl crisis seriously.
https://www.breitbart.com/politics/2022/09/29/exclusive-rnc-chair-ronna-mcdaniel-bashes-joe-biden-democrats-over-politicizing-rainbow-fentanyl/

Load More...

MILITARY NEWS

VIDEOS & QUICK READS