over the next decade after refusing to give a cost estimate earlier in the week.
Ramamurti said the $24 billion annually represents just 1.5% of the projected $1.7 trillion deficit reduction the administration is projecting for the current fiscal year. As a result, he said the White House considers the plan"fully paid for." Ramamurti rejected those findings, noting the Penn Wharton analysis assumes 100% participation and doesn't take into account millions of borrowers in default haven't been paying the government. He said $450 billion-plus in additional costs tied in the study to new income-based repayments, such as capping payments at 5% of a borrower's income, were "speculative.
About 90% of borrowers who will receive student loan debt relief under Biden's plan earn less than $75,000, according to White House projections. The Penn Wharton Budget model found a smaller percentage, 75%, of the benefit will go to borrowers earning $88,000 or less.
joeygarrison Can report how much was the cost the American paid for the forgiven PPP loans? Let’s be transparent if you can make this report please do one for PPP loans!
Knee jerk reaction to drum up anything to stay in office, much to the dismay of his own.
So same Analysts that said Biden was skyrocket the Deficit when he actually REDUCED it by 1.7 Trilllion. That’s right folks, $1.7 Trillion. Crickets.
CNN FoxNews VP USAmbIndia This is What's racialISM... why USA has it in bulks? If this lady was capable enough she could have also hold a good position in whatever industry, but because of her incapabalness some Indian might be serving it!! Foolish woman
PROOF -democrats CAN'T DO numbers --OR-- maybe its a rush to Third World status ?
Get a job like we all did and pay off you loan
240 billion dollars over one decade is 25 billion dollars per year. Why are Democrat costs always mentioned in decades while the military budget is presented yearly? The military eats $7.5 trillion dollars per decade, and the Iraq and Afghan wars cost $ 6 trillion. Thanks, Bush.
Care to explain to the American public how our reserve banking system works and that the debt they issue is created from thin air?
There are places for entitlement spending. Bailing out people who willingly took on this debt is not one of them. What's next...pay off everybody's credit card bills?
In 2020, the Democrats came up with mail in voting. In 2022, it's student debt cancellation. Any scheme to stay in power.
Defense costs over $780 billion EACH YEAR , and more than half of that goes to for-profit war contractors, yet the same people screaming that we should help Americans first are upset that this administration is trying to help Americans. SMH.
That just transfers their debt to us taxpayers. Paying for votes isn’t cheap. We can’t afford more taxes. Why not just give them zero percent loans?
Afghanistan war cost us 8 Trillion and zirillion for our men and women in lives.
A drop in the bucket compared to the free handouts Trump and the GOP gave to the wealthy and corporations.
Why does imaginary debt has to cost anything. You literally just have to change the numbers. When you pay the numbers change but when it's forgiven, somebody still has to pay? My lender repo'd my car once and took the 8k I owed off the books and closed the account. Still happy.
And? Other countries with far smaller GDPs find a way to fund education for their populace. This whole 'do it on your own' mentality that some Americans have is really toxic. If you can, great. I did. But to hold everyone to that standard is crazy.
“Cost the federal government” = TAX PAYER FUNDED. Who is the tax payer?
He just gave 100 billion to Ukraine in 4 months how come we're not complaining about that? 🤔😲 Oh, No racial aspect! Can't somehow blame it on black people.
In his dumbest policy moves yet, this one is facing intense criticism from a wide variety of sectors. So to try to tame the criticism, they’re just going to lie about what it costs?
They were lying. Every reporter knew it and just sat there soaking up the lies. But, Biden must be protected at all costs, even when the lies are obvious, destructive, and repulsive. What a corrupt world we live in.
High school grad picking up the tab for college grads. Just before a midterm.
end the gop reign of terror america and vote blue down ballot.
What's a little more inflation? Lol
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