Another Handout for Elites
Joe Biden is set to announce student loan debt cancellations today, giving yet another handout to wealthy elites and sticking working Americans with the bill.
And top Obama economist Larry Summers is sounding the alarm, saying, “Student loan debt relief is spending that raises demand and increases inflation.”
The news comes as reports show record inflation is driving retired employees back to the work force and 59% of American are worried student loan forgiveness will make inflation worse.
“Families are struggling to pay the bills and yet Biden and his friends in Congress are gearing up to give more handouts to wealthy elites – paid for by working class Americans,” said CLF Press Secretary Cally Perkins. “Once again, Democrats are showing just how out of touch they are with voters back home.”