Republicans are sharply criticizing President Biden’s decision to burden working-class Americans with the debt of college-educated Americans, but they are not the only ones complaining. The plan, which Penn Wharton’s budget model estimates will cost taxpayers $300,000,000,000, also received mixed reviews from some Democrats.
In addition to former economic advisers to Obama and Clinton sounding the alarm that “pouring approximately half a trillion dollars of gasoline on an already burning inflation fire is reckless,” members of the House and Senate have spoken out harshly about the plan.
Dream. KATARZYNA CORTEZ MASTO (D-Ariz.): “I disagree with the executive branch’s actions today because they do not address the fundamental problems that make college unaffordable. We should focus on passing my legislation to expand Pell Grants for lower-income students, target loan forgiveness for those in need, and actually make college more affordable for working families.”
Libertine. Jared GOLD (D-Maine): “This decision by the president has nothing to do with what most Americans expect from the White House: leadership capable of tackling the most pressing challenges facing the country.”
Libertine. CHRIS PAPPAS (DN.H.): “[T]its announcement by President Biden is not policymaking and bypasses Congress and our oversight and fiscal responsibilities. Any plan to address student debt should go through the legislative process and should be more targeted and paid for so as not to increase the deficit.
Libertine. SHARICE DAVIDS (D-Can.): “That’s not the way I would handle this issue.”
Libertine. TIM RYAN (D-Ohio): “While there is no doubt that a college education should open up opportunities, eliminating debt for those already on the path to financial security sends the wrong message to the millions of Ohioans who don’t have a degree and are just as struggling to make ends meet.”
Dream. MICHAEL BENNET (D-Colo.): “In my opinion, the administration should have targeted the aid more and proposed a way to finance this plan. While immediate relief for families is important, one-time debt relief does not solve the underlying problem.” (POLITICO guide)
Meanwhile, party leaders are in full cheerleading mode, despite the assurances Biden made not long ago there is no such authority “forgive” your student loan debt.
.@POTUSThis bold action is a strong step in Democrats’ fight to expand access to higher education.
By providing historic, targeted student debt relief to millions of borrowers, more working families will be able to meet their kitchen table needs as they emerge from the pandemic. https://t.co/nHkBLNvqeG
— Nancy Pelosi (@SpeakerPelosi) August 24, 2022
In a joint statement, Schumer and Warren say Biden’s actions on student debt “will be felt by families across the country, especially among minorities
communities and is the most effective action the President can take alone to aid working families and the economy.” pic.twitter.com/DeZYSeyPR0— Nolan D. McCaskill (@NolanDMcCaskill) August 24, 2022
