"Inflation is the bane of our existence," Biden said Wednesday on ABC's"Jimmy Kimmel Live!"A final call on student loan forgiveness from Biden isn't expected until later this summer.
Beatty said she couldn't speak for the White House about whether inflation is holding back a decision but argued the rising costs are another reason for the president to "reduce the costs" for borrowers. Brian Deese, director of the National Economic Council, said the economic effect of any student debt forgiveness plan would occur over"years or a couple of decades," not immediately.Free college or federal student loans? These alternatives could help solve student debt crisis
One reason for the White House's confidence that forgiving some student loan debt wouldn't drive up inflation further: The White House has assumed any debt forgiveness plan would coincide with the end of a moratorium on all student loan repayments, set to expire Aug. 31, that Biden has extended multiple times during the pandemic.
Senate Majority Leader Chuck Schumer, D-N.Y., speaks during a press conference about student debt outside the U.S. Capitol on Feb. 4, 2021 in Washington, D.C. Also pictured, L-R, Rep. Mondaire Jones, D-N.Y., Rep. Alma Adams, D-N.C., Rep. Ilhan Omar, D-Minn., Sen. Elizabeth Warren, D-Mass., and Rep. Ayanna Pressley, D-Mass.
But the divider in Cheif stated he was against spending & increasing the national debt. I gather he believes that money from the government is created out of thin air. 😵
Spin the wheel time again 🙄
I have student debt, I pay my loans and forgiving them is a stupid idea when we have horrific inflation.