Posted on 08/26/2022 7:55:02 AM PDT by cotton1706
Sputterings of dissatisfaction among Democratic ranks over President Joe Biden's plan to wipe out at least $10,000 in student loans has erupted into a full-blown civil war within the party, with some claiming the move is 'out of touch' with what Americans want.
The shocking price tag of the forgiveness plan is now estimated to cost taxpayers up to $600 billion – even for those who did not take out federal student loans or have already paid it off.
Thousands of families who saved up to pay for college educations are furious that their responsible financial planning will leave them without benefiting one cent from the relief plan and potentially paying roughly $2,000 in taxes to help pay for it.
Democrats, who are fearing a Republican bloodbath in the 2022 midterms, are turning against the president as the White House scrambles to explain how they will pay for the plan.
Education Secretary Miguel Cardona ducked twice when asked by CNN's New Day how much the plan would cost and how it would be paid for.
The Committee for a Responsible Federal Budget released estimates Wednesday claiming that the forgiveness plan could cost taxpayers between $400 and $600 billion over the next decade.
(Excerpt) Read more at dailymail.co.uk ...
It’s CYA. Plus they’re pulling their punches. SOP.
“The shocking price tag of the forgiveness plan is now estimated to cost taxpayers up to $600 billion – even for those who did not take out federal student loans or have already paid it off.”
Many struggled [read starved] & worked long hours in 2 jobs to put themselves through college & grad school.
Tax payers should be VERY angry!
he is punishing ‘those without a degree’ by his OWN party - as new projection says it will cost Americans $500 BILLION
Where in the hell I’d my money?!
You tucker uppers gave away rail cars full of money during the plandemic and now this?
Those of us earning over $75,000 are the one’s paying the freight and we never saw so much as a rebate.
The scale of this stupidity is richter...
I went overseas for the Ph.D. I could afford it there.
Wait until he’s attacked from the other side for the paltry sum of $10k. There are plenty of gender and african studies majors who are $100k in debt.
This is an own goal of epic proportions and this demented idiot probably got it from his sub human press ho.
Dems will get no benefit in the election from this move. The beneficiaries were overwhelmingly Dem to begin with.
He just alienated 85% of the country!
Democrats acting like Republicans because November scares them or because they want the RNC to try to strategize (i.e. snatch defeat from the jaws of victory) and take the hit with their base for turning around and supporting this?
GOP should not get in the way of this train wreck. Help the Dems dig their own hole, but DON’T HELP THEM OUT OF IT !!!
Yeah, maybe. This is today’s news. Come election time, he’ll be back “standing up for the little guy”.
I just read that if you include the loss from no interest on these since 2020 and reduced interest and payments (and write offs after 10 years of income -based payments instead of 20) the cost is actually 1 trillion.
What is being out in place is that college tuitions will explode higher and soon the only people who can afford college will be the very wealthy and the very subsidized. Not the middle class. This has been true for a while but now will accelerate.
Sadly, I hate to tell you good folks out there in America Land...that I told you so...but, I told you so!!! I have followed Democrat, Joe Biden since his every Sunday appearance on NBC’s “Meet The Press” for years. Simply stated and outlined, Joe Biden was a 100% EMPTY SUIT then and he is worse now!!!
Me...I am glad I am an old, over the hill dude...so I will not be around as failure comes to the once great all powerful USA!!! The American people tolerate Biden...so they have no complaints. Sad days for the American Nation Republic!!! I told you all...so!!!
I have heard that one already: it’s not enough! More, more.
The Head Dufus opened Pandora’s box.
That’s exactly what I did. Worked Mon-Fri at the University library 20 Hrs/week and Sat-Sun as a line cook at a steak and seafood place, 2x 8 hour shifts. Also took out student loans but had them paid off in 6 years.
I appreciate those years of living frugal and pinching pennies. It keeps me in check now.
One reason taxpayers will rebel as they vote. Unfairness angers everyone.
Well, gotta love these “unforced errors” by Biden and Democrats now fighting over this idea of forgiving student loans.
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