White House Refuses to Answer Who Will Pay for Student Loan Giveaway

We are entering week two of the big loan “forgiveness” plan, and Joe Biden still has not announced where the money is coming from.

When Biden ran for office, he vowed that every program put in place would be paid for before it was implemented.

Yet, when it came to the student loan giveaway, they have yet to announce a plan for payment and do not even have any clue how much it will actually cost

The Deception

The United States has a current deficit of nearly $31 trillion.

Last week, Joe Biden added more than $1.2 trillion to that with two major spending bills.

The Biden administration keeps deflecting, pointing to this mysterious deficit reduction that does not really exist. For instance, Bharat Ramamurti, deputy director of the National Economic Council stated, “It is paid for and far more by the amount of deficit reduction that we’re already on track for this year.

“Like I said, we’re on track for $1.7 trillion in deficit reduction this year.

“That means, practically speaking, compared to the previous year, 1.7 trillion more dollars are coming into the Treasury than are going out.

“And we’re using a portion of that — a very small portion of it — to provide relief to middle-class families, consistent with the president’s plan.”

The Wall Street Journal pushed back on this idea, stating, “Over time, as loans don’t get repaid, the federal government will lose money that might otherwise have been paid back.”

Wharton Business School has projected the legislation to cost more than $500 billion, with some estimates taking future loan forgiveness into play, now ticking $1 trillion when all is said and done.

Of course, this does not account for the impact it will have on our economy.

Senator Rubio (R-FL) stated, “This is illegal. The president doesn’t have the authority to do this. He’s not an emperor.

“He can’t just with the stroke of a pen cancel $300-$400 billion worth of student loans.

“It’s unfair. Eighty-five percent of the people in this country do not have a student loan.

“They either had one and paid it or they don’t have one, and that 85% is gonna pay for the 15% who got a tangible benefit.”

Even Democrats are pushing back, with battleground Senate candidate Tim Ryan stating, “There’s a lot of people out there making 30, 40 grand a year that didn’t go to college.

“And they need help as well, which is why I’ve been proposing a tax cut for working people that will affect everybody.”

You take a loan, you pay it back… that is the way it works, unless you are a socialist Democrat, which Joe Biden has proven to be.

Source: Fox News

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Biden promised to build an economy from “the bottom up and middle out.”

Instead, he “built” an economy where 1/3 of households are skipping meals or cutting portions to afford the rising cost of food.

A year ago today, Merrick Garland issued a memo directing the FBI to act on a letter that labeled parents “domestic terrorists.”

The only way we hold Biden accountable is electing Republican majorities in the House and Senate.

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