Biden Admin. Continues To Defend Student Loan Debt Cancelation Plan

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FILE - President Joe Biden speaks in the South Court Auditorium on the White House complex in Washington, on April 28, 2022. Biden is expected to announce Wednesday Aug. 24, 2022 that many Americans can have up to $10,000 in federal student loan debt forgiven. (AP Photo/Susan Walsh, File)
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White House economist Bharat Ramamurti joined the White House briefing Friday to continue to tout President Biden’s announcement to cut up to $10,000 in student loan debt.

“And these actions are targeted right at America’s middle class, nearly 90% of people receiving the relief are making under $75,000 a year,” Ramamurti said.

“This plan will lift a large weight off of tens of millions of middle-class Americans, people who came by and large from working families and who are working class now.”

A question that was asked repeatedly is who’s going to pay for it.

Ramamurti’s response: “It is paid for and far more by the amount of deficit reduction that we’re already on track for this year. Like I said, we’re on track for $1.7 trillion in deficit reduction this year.”

As the president left the White House today, he took a moment to speak with press. He railed on Republicans who have been criticizing his three-point student loan debt plan and noted that these are some of the same people who had PPP loans forgiven.


Click ▶️ to listen to the report from AURN Washington Correspondent Ebony McMorris:

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