President Biden’s plan to forgive $10,000 to $20,000 in student loan debt per borrower will increase inflation, Gov. Ron DeSantis (R) said Tuesday.
“And what else will increase inflation is this big student loan bailout, where they’re doing maybe a trillion dollars-worth of student loans that they’re going to put on the backs of the taxpayer,” DeSantis said during a press conference:
And obviously, you know, we have people who have worked themselves through college and pay their loans. We have people that have made other decisions to say, “You know what, maybe I don’t want to go to university because I don’t want to be in debt. I’m going to pursue a trade or I’m going to go into business.” And they made that decision because they don’t want to have to pay loans. And now they’re having to pay it as taxpayers.
“You also have the situation where this is going to cause inflation to be exacerbated. … It’s not just me saying that. One of Obama’s top economists has come out and said it’s like pouring gasoline on the fire to be doing a trillion dollar bailout when we already have inflation raging,” he said. “Biden doesn’t have authority to do this.”
“You can’t just do this unilaterally. There’s no authority. He’s citing a law from 9/11,” he said, explaining that it involves first responders and military people with their loans.
“How does that equate … to paying off someone’s debt PhD in gender studies? It doesn’t,” he said, explaining that student debt relief should be focused on targeting universities.
“The university should be on the hook for this because they’re the ones that have really exploited this system that we’ve had in place for over the last however many decades,” he said, adding that Biden has ignored that aspect.
“It is going to exacerbate inflation, it is not doing anything to reform universities,” he said, adding the lack of reform on universities is not fair.
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