Top economist, Steve Moore, just set fire to Biden’s bailout plan. Taxpayers are stuck paying for loans they didn’t take out. The White House has refused to admit who exactly is going to pay for this big bailout but unless Bill Gates is feeling generous, it’s us—The taxpayers.
Look, I want Americans to be able to go to school and pursue a career but it wasn’t the taxpayers who allowed schools to charge astronomical amounts for attendees and taxpayers never accepted or agreed to take on that loan, so why is it the taxpayers who have to suffer? What about students who now or soon will soon graduate and make hundreds of thousands a year?
We all have questions and the White House has not offered viable answers so we lean on experts and economists to explain what’s going on. Experts like, Moore says that Biden’s bailout is already failing.
“It’s almost comical that the Biden administration is talking about how they’re reducing the deficit and debt, when, in fact, since Joe Biden came into office, if you add up all of those spending bills… and then if they would put $500 billion more on that per student relief you’re talking about… over $4 trillion of spending, that’s 400 comma 000 comma 000 comma 000,” he said.
“This amount of debt, I think, and the spending, I think, is the biggest weight on the economy. And it’s the thing that makes me most nervous about what we’re doing to the future of our country and the ability to create a prosperous society.”
Moore added that Biden did not receive the great political benefit he expected after writing-off part of the debts of mostly white-collar college students while ignoring blue-collar tradesmen and students, and those workers in the economy who did not attend postsecondary educational institutions altogether.
He cited a report from a University of Chicago economist, who tallied the collective financial value of all federal government handouts, from free health care to food stamps to subsidized housing and education, telling Fox News the total exceeded the average salary for a U.S. citizen.
“[With] all of these things you can make $80-, $90,000 a year and not work a single hour,” he said, adding it is a big warning sign that not only was Biden’s latest handout unwise but that American society must return to its prior iteration as one that encouraged work and rewarded those who contribute to the economy.
Watch
Laughing Kamala Harris offered the most offensive answer when asked directly who will pay in the end. I’d love to paraphrase her on it but the reality is, that her point was so unclear and convoluted it would be impossible to translate so just watch:
“Well, let’s start with this. First of all, a lot of the same people who are criticizing what we rightly did in following through on a commitment that we made to forgive student loan debt are the same people who voted for a tax cut for the richest Americans,” Harris said.
“So, when we look at who is benefiting from this, 90% of the people who are going to benefit from student loan forgiveness make under $75,000 a year,” the vice president continued. “And that debt has been the reason that they’re unable to start a family, buy a home, and pursue their piece of the American dream.”