UPDATED 6:32 AM PT – Thursday, August 25, 2022
President Joe Biden is facing serious backlash from critics who have accused him of not having a firm grasp on his newly proposed student loan forgiveness program. On Wednesday, Biden announced he will cancel $10,000 in federal student loan debt for borrowers making less than $125,000 per year.
However, the President stammered when asked if the measure is fair to those who have worked hard to pay off their student debt. Biden, who claims to be a capitalist, responded by trying to justify the loan forgiveness program by comparing it to tax breaks given to large corporations.
REPORTER: “Is this unfair to people who paid their student loans or chose not take out loans?”
BIDEN: “Is it fair to people, who in fact, do not own multi-billion dollar businesses? They see these guys are given all the tax breaks — Is that fair? What do you think?” pic.twitter.com/oQwK8wei8x
— Breaking911 (@Breaking911) August 24, 2022
Critics have described the president’s justification for the program as “non-sensical” and alleged the measure is solely for votes. Meanwhile, new data shows more than 200 high ranking Biden officials are set to directly benefit from the plan. One America’s Daniel Baldwin has more.