The Patriot Post® · Canceling Student Debt Is Biden's Liberal Payoff

By Political Editors ·
https://patriotpost.us/articles/88056-canceling-student-debt-is-bidens-liberal-payoff-2022-05-03

The Republican National Committee regularly publishes research backing up GOP assertions regarding the issues of the day. Here’s the latest on Democrat plans to redistribute billions of dollars in taxpayer money to pay off student loans and buy Democrat votes:

BIDEN WANTS TO CANCEL BILLIONS IN STUDENT DEBT

DEMOCRATS ARE PUSHING BIDEN TO PROCEED WITH DEBT CANCELLATION

BIDEN’S AGENDA IS A HANDOUT TO THE WEALTHY

STUDENT DEBT CANCELATION WOULD FURTHER FUEL INFLATION

  • With inflation at a 40-year high, Americans are forced to pay more for just about everything.
  • As inflation continues to slam hardworking Americans, Biden’s plan to cancel student loans will only further fuel historic price increases.
  • According to the Committee for a Responsible Federal Budget, canceling all student debt would significantly increase inflation.
  • Economists warn that extending the “payment pause” will make inflation worse.
    • Ben Ritz, the director of the Progressive Policy Institute’s Center for Funding America’s Future: “From an economic perspective, it’s a very bad decision… It’s very expensive, it’s inflationary, it’s regressive.”
    • Larry Summers: “this approach is regressive, uncertainty creating, untargeted and inappropriate at a time when the economy is overheated.” 
  • Widespread student debt cancellation would have a negligible impact on the economy and produce “only 2 to 27 cents of economic activity for every dollar of cost.”

BIDEN’S PLAN WILL DRIVE FUTURE DISPARITY

Originally posted here.