August 28, 2022

What They Are Saying: Biden’s Student Loan Cancellation is a Giveaway to the Wealthy, Increases Inflation, Adds Hundreds of Billions to the Taxpayers’ Tab

WASHINGTON, D.C. – The reviews for President Biden’s latest big spending scheme are in, and they are not good. Across the political spectrum, it’s clear that canceling student debt is a desperate pander to Democrats’ far-left political supporters that offers a massive financial handout to wealthy individuals, and stokes the fires of inflation. Even members of the President’s own party agree that canceling student loans hurts the working class and benefits the wealthy. Click here or on the image below to read the House Budget Committee Republican fact sheet on Biden’s Student Loan Giveaway to the Wealthy.

Canceling Student Loans is a Giveaway to the Wealthy

Washington Post: Biden's student loan announcement is an expensive, regressive mistake

Wall Street Journal: Biden's Half-Trillion Dollar Student Loan Forgiveness Coup

Politico: Biden's Student Loan Forgiveness is Wrong. Here's How to Handle Student Debt Instead.

Canceling Student Loans Will Drive Inflation

Wall Street Journal: Student Loan Forgiveness Is An Inflation Expansion Act

Former Democrat Treasury Secretary Larry Summers:

Former Obama Chair of Council of Economic Advisers Jason Furman:

CNBC: 59% of Americans worry student loan forgiveness will make inflation worse, CNBC survey finds

Americans for Tax Reform: Student Loan Cancellation Would Worsen Surging Inflation

Canceling Student Loans is a Huge Cost to Taxpayers

The Committee for a Responsible Budget (CFRB): Debt Cancellation Plan is Costly, Inflationary, and Cynical

National Taxpayers Union Foundation: Cost of Student Debt Cancelation Could Average $2,000 Per Taxpayer