BREAKING: Huge Biden Fail Humiliates Whiter House - Worst One Yet...

August 31, 2022

"Monumentally unfair."

Those are the words being used to describe President Joe Biden's job to reassign up to $20,000 in student loan debt per borrower to Americans who didn't accumulate it.

Senator Roy Blunt, a Republican from MO, appeared on ABC on August 28 to say exactly what he thought of Joe Biden's student loan forgiveness plan.

"I just thought it was monumentally unfair, unfair to people who didn’t go to college because they didn’t think they could afford it, unfair to people who pay their loans back, unfair to people who got higher education in an area that the government didn’t make loans and just bad economics in addition to that."

He continued, "I think it’s going to have a long-term devastating effect on a student loan program that worked pretty effectively until about 10 years ago when the federal government assumed responsibility for that program."

The host then asked about the economists who don't think the plan will increase inflation.

Blunt did not agree.

"Well, if that’s what they’re thinking, most economists are wrong. You can’t forgive that much debt and assume people won’t spend the money for other things. It’s certainly going to take about $24 billion that should have been coming into the federal government every year in payments and make that available for more spending. You know, the president says it’s going to grow the economy, so how it doesn’t impact inflation and grows the economy. You’ve got $300 billion to maybe $500 billion going back into the economy in ten years at a time when the federal reserve chairman is saying, we’ve got to do everything we can to slow the economy down. You don’t slow the economy down by forgiving debt and giving people another $24 billion to spend."

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