Biden student loan handout attempt to buy support: Rove
Fox News contributor Karl Rove slams President Biden’s student loan handout plan as a ’sign of desperation’ to win back favor ahead of midterms.
Fox News contributor Karl Rove argued President Biden's plan to cancel student loan debt for certain borrowers is merely a political stunt to buy support from college students ahead of November's midterm elections. On "America's Newsroom" Wednesday, Rove highlighted the administration's "desperation" as experts fear the move could worsen inflation and drastically increase the national deficit, which now tops $30.7 trillion.
JOE BIDEN EXPECTED TO ANNOUNCE $10,000 STUDENT LOAN FORGIVENESS PROGRAM WEDNESDAY: REPORT
KARL ROVE: This is all about buying the support of college students and recent college graduates whom they worry aren't going to turn out to vote. I mean, this just stinks from top to bottom. And it's a sign of the desperation of the administration, but it's also a sign of their willingness to bend the boundaries in order to achieve a political goal.
…
But this does nothing to that. In fact, it encourages it. And not only that, but remember, we're going to grant a special privilege of debt forgiveness to a small group of people and have every taxpayer pick up the tab, not only today, but in the years to come, because this is $300 billion added to the deficit, period, end of story. This is not paid for. This is not, you know, offsets. This is nothing. This is pure addition to the debt and inflationary demand. Now we've got a bunch of people out there say, "God, I feel better. I'm $10,000 of my obligation have been wiped out. I'm in a better place. Let's go. Let's go spend more money." And when, once again, the government is making the inflation problem worse by putting more money into the system, more demand and having it paid for by debt.
WATCH THE FULL VIDEO BELOW:
Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox