Biden’s student loan relief could cost $400 billion, Congressional Budget Office says

[McRocket]

'President Joe Biden’s student loan cancellation plan will cost an estimated $400 billion, according to the Congressional Budget Office.

Biden last month announced a plan to forgive $10,000 in federal student loans for borrowers who earn less than $125,000 a year, or have a household income of under $250,000 if filing jointly. Low-income Pell Grant borrowers are eligible for an additional $10,000 cut.

In addition to the costs to forgive that debt, the CBO estimated the cost of Biden’s pause on student loan payments from September through December 2022 will total $20 billion.

The CBO is a nonpartisan agency that calculates the costs of federal revenue and spending plans for Congress. Its latest analysis does not include the cost of adjustments to income-driven repayment plans. Biden’s executive order lowered the cap a borrower would have to pay on their student loans to 5% of their income, down from 10%. The Committee for a Responsible Federal Budget, a think tank opposed to Biden’s student loan plan, has estimated the change will cost an additional $120 billion.'

https://www.cnbc.com/2022/09/26/bide...fice-says.html


It's weird.

We know that people with college degrees, make far, more money than people without them (generally).
Yet the Dems seem desperate to throw, gigantic sums of taxpayer money at these people.

Yet, these same democrats seem to care less about 500,000 Americans - including thousands of veterans - who are literally homeless.
'40% of all homeless men are veterans.'
'Every year, roughly 13,000 homeless people die in the US.'
https://policyadvice.net/insurance/i...ss-statistics/

A Bill costing 1/10'th of this debt forgiveness, could virtually end homelessness in America.
In the form of regional, government shelters.

And yet...where is the White House Bill proposal to end homelessness?
To - literally - save the lives of over 10,000 Americans per year?
No where - that is where.



There you have it!
The modern, democratic hypocrisy on display.

They claim to care about the 'little people'.
Yet, in reality?
Dems/Biden care FAR about college graduates - than the homeless..


Once again, I despise, BOTH parties.