Biden Canceling $10,000 Student Debt

Do you want more evidence that the folks in DC have no clue how inflation works?  Here’s one more example.  Let’s print more money by creating more Federal debt to give a handout to mostly Democrat voters. Also the unfairness to the folks who worked hard to pay off debt, will they be willing to give that money back to them?  When Elizabeth Warren was asked that question she just laughed it off.

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Washington — President Biden announced Wednesday he is forgiving up to $10,000 in federal student loan debt for millions of Americans and an additional $10,000 for low-income borrowers while extending a pause on monthly payments, delivering on long-awaited relief just weeks before the midterm elections.

Under the plan, which the president unveiled on Twitter, borrowers earning less than $125,000 a year, or couples earning less than $250,000 a year, would be eligible for up to $10,000 in loan forgiveness. Recipients of Pell Grants, which are given to students with the greatest financial need, would be eligible for another $10,000 in relief. Loan payments will also be capped at 5% of monthly income.

The president is also deferring student loan repayments until the end of the year, and the Education Department said it would be the last time the pause is extended. Mr. Biden is set to deliver remarks on Wednesday afternoon, the White House said.

 https://www.cbsnews.com/news/biden-student-loan-relief-announcement-expected/