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Biden's student loan ploy could cost $1TRILLION:
Budget predictions reveal staggering new
total that undermines the White House
claims it will all be paid with deficit reduction

Original Article

Posted By: Ribicon, 9/5/2022 1:51:49 PM

Questions continue to mount over the White House's federal student loan forgiveness plan as multiple analyses suggest the government has underestimated the policy's hefty price tag. The most broadly impactful measure is the cancellation of up to $10,000 in student debt for borrowers making under $125,000 or $250,000 married.(Snip) But even without the cost estimates of the other policy points, several private analyses already suggest the White House's projection is modest at best. Among the most highly-cited is the Penn-Wharton budget model, which predicts total costs could reach $1 trillion. 'It is ludicrous to think that the White House’s student loan forgiveness plan will only cost $240 billion

Comments:

The "plan" also makes all future loans "forgivable" if not paid off in 10 years, and sets the minimum payment comically low. Shhh! Don't make much noise; you might awaken a Republican. The professional Aggrieved Americans aren't saying much either. Probably they've been told that reparooniums be on their way too.

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Reply 1 - Posted by: FJB 2022 23 24 9/5/2022 1:59:38 PM (No. 1269131)
No one ever believed deficit reduction would pay for this. This will be on the backs of taxpayers as it was designed to be all along.
4 people like this.

Reply 2 - Posted by: chance_232 9/5/2022 2:21:42 PM (No. 1269159)
Allegedly, the so-called inflation/deficit reduction act, reduced the deficit by 300 billion dollars. Which was immediately wiped out by "forgiving" almost 300 billion dollars in student loans. What wasn't said at the time that the loans still have to be paid, by the taxpayers, to the tune of 600 billion dollars to 1 trillion dollars. This was vote buying at taxpayer expense. At best, it was false advertising, at worse, it was fraud on a massive scale. If corporate America did this, the lawsuits and criminal indictments would be flying by now. Like everything that the democrats do. They mischaracterize the bill/policy, line somebody's pockets and stick it to the taxpayers.
4 people like this.

Reply 3 - Posted by: Foghorn 9/5/2022 3:04:56 PM (No. 1269191)
One back step for republican democracy and one 5 steps forward for a socialist government. Why should the average worker that did not go to college pay for those that did?
2 people like this.

Reply 4 - Posted by: MickTurn 9/5/2022 3:11:41 PM (No. 1269195)
It will be Paid for with debt. Lying scum!
2 people like this.

Reply 5 - Posted by: columba 9/5/2022 3:45:00 PM (No. 1269227)
If one uses a calculator one seeks that all of the money spent by all of the combatants in WWII combined reaches to about only $ONE Billion.
2 people like this.

Reply 6 - Posted by: 3XALADY 9/5/2022 5:26:21 PM (No. 1269289)
Where are the Republicans on this. All I hear is crickets.
2 people like this.

Reply 7 - Posted by: LesUNo 9/5/2022 5:34:40 PM (No. 1269295)
#6, Where are the Republicans on much of anything? I have come to the place where believe no-one. We are on our own.
1 person likes this.

Reply 8 - Posted by: mifla 9/6/2022 3:44:27 AM (No. 1269601)
Paid for by imaginary money. They think we are stupid.
2 people like this.

Reply 9 - Posted by: ARKfamily 9/6/2022 5:43:37 AM (No. 1269622)
What's next? Is Joe Biden going to forgive credit card debt too? I went to a community college so I did not incur a lot of debt. . .
1 person likes this.

Reply 10 - Posted by: franq 9/6/2022 9:12:25 AM (No. 1269745)
You guys don't get it. An esteemed poster here has pointed out this will be paid for with T-bonds. Or the click of a high-ranking Treasury official's mouse. It won't affect your wealth in any way! Plus, all the money these poor students would have had to spend servicing their loans will now be put into the economy, putting millions of us to work! Can't you understand?!?! Hello!!!!!!!!! McFly!!!!!!
0 people like this.

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