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The White House’s plan to cancel student loan debt for tens of millions of American borrowers will cost roughly $400 billion, according to a new estimate released by Congress’ nonpartisan scorekeeper.

The scorekeeper also found that the White House’s plan to temporarily extend an existing pause on student loan payments would cost roughly $20 billion…

The CBO estimate excludes the White House’s simultaneous move to lower the monthly amount borrowers can be forced to repay as a percentage of their income from 10 percent to 5 percent. That policy is set to cost an additional $120 billion, according to estimates from the Committee for a Responsible Federal Budget, a D.C.-based think tank that has opposed Biden’s policy.-
[hotair.com]

SpikeTalon 10 Sep 27
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Taxpayers should not have to pay the debt of other people who willingly entered into that debt. Those people willingly took on the debt, and they should have to pay it. I have payed every debt I have ever incurred, and I have done so in an attempt to better my life and ensure my family's financial future. Raising my taxes in order to pay for this scheme -- which will be the inevitable outcome -- undoes much of my hard work, bailing out others, refusing to make them pay their own debts, at my expense. Frankly, I resent it.

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"I know, let's steal the little leftover from the middle and lower class working people and give it to our entitled wealthy crybullies."

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This loan forgiveness scheme is one of the single greatest transfers of financial liability in U.S. History. Biden and the Democrats will likely feel it at the polls.

Let's hope they do feel it at the polls.

It will be good for them. Most of the kiddies needing to write off part of their loans are from rich families. These rich families donate.
If the kiddie gets $10K and Mom&Dad "launder" half of that to the Demos -- it is a win/win.

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