President Biden today returned to the White House from his vacation to make a big announcement about student loans (that might of course end up being declared unconstitutional):
Around 9 million borrowers could have their balances entirely cleared by Biden’s plan, according to higher education expert Mark Kantrowitz.
Biden’s decision to move ahead with $10,000 in student debt cancellation for borrowers who earn under $125,000 will cost the federal government around $244 billion, Kantrowitz estimated. The $20,000 in relief for Pell Grant recipients may add around another $120 billion to the government’s costs.
The unprecedented action by the White House of wiping out hundreds of billions of dollars in consumer debt follows years of advocacy pressure and recent months of heated debate among Biden administration officials.
Republican Sen. Mitt Romney, who voted to impeach Trump and said he did not vote for him in 2020, is troubled by what he’s seeing:
Sad to see what’s being done to bribe the voters. Biden's student loan forgiveness plan may win Democrats some votes, but it fuels inflation, foots taxpayers with other people’s financial obligations, is unfair to those who paid their own way & creates irresponsible expectations.
— Senator Mitt Romney (@SenatorRomney) August 24, 2022
Maybe someday Romney will be able to bring himself to admit that Trump wasn’t so bad for the country… or maybe he won’t.
Gee, if only you knew someone who could do something about this clearly unconstitutional act. 🤬🤬🤬
— Rogue Penguin (@Rogue_40) August 24, 2022
I would take mean tweets any day to what's going on in our country now.
— Diane (@SoCalValleyGal) August 24, 2022
Congrats on aligning with and empowering Democrats to fundamentally destroy our economy through vote buying. No mean tweets though, right?
— bizdetail (@bizdetail) August 24, 2022
Definitely no mean tweets at the moment… at least not from Trump. Thanks a lot, Sen. Romney.
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