An ex-economic consultant to President Trump has predicted that Joe Biden’s proposal to eliminate student debt will likely be counterproductive for Democrats in the next midterm elections.
Even putting politics aside, Steve Moore, the head economist at the Heritage Foundation, noted that the decision could end up being detrimental to Biden’s position. He admitted that Democratic Party nominees in certain difficult swing states are trying to adopt a hands-off strategy, as they are aware now that many Americans found the proposal to be completely unfair.
He said, ” the candidates are aware that many voters in their districts feel this way”.
The former advisor believed that those who had used the services of the army to pay for their education were being treated unfairly by the forgiveness of student loans proposal.
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“The other group of individuals who went thru the GI programme, and ended up going through our army and fought for us, spent three or four and even 5 years serving in the military, receive schooling free as part of the bargain,” he described, adding that the Biden regime is essentially giving unlimited training for individuals who did nothing to merit it. “The others that went through the GI programme, and moved thru our armed services, shielded us, and managed to spend 3 to 4 years in the army, they receive an education free.”
Moore also mentioned that Biden has no authority to forgive student loan debt.
He made the remark that “now the Judicial Branch may decide to rule against it due to the fact that the president is exploiting the powers granted to him by the pandemic emergency act to not repay their loans”.
The Biden govt has already cancelled $32 billion of a $1.6 trillion still outstanding governmental education debt by adding new forgiveness programmes for public employees, disabled borrowers, and students who have been swindled by for-profit colleges. This brings the total amount of federal student debt that has been cancelled under the Biden administration to nearly $36 billion. Additionally, he prolonged the temporary suspension of payments for student loans because of the pandemic.
Despite this, these efforts came up short of such a campaign goal that Biden made to eliminate student debt across a wider spectrum of institutions. He is also under criticism to do more from fellow Democrats, who are pressing him to erase $50,000 per debtor. This additional pressure is putting further stress on him.
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