So, the deal is finalized now. In order to cancel little amounts of student loan debt, the Democrats have cost us an additional $300 billion.
The Committee for a Responsible Federal Budget estimates that the cost of the handout will be closer to $500 billion.
One atheist I came across commented on a Christian being against this student debt forgiveness saying, “A Christian who’s against debt forgiveness! Read your book again, you’ve missed some spots…again”
Let me just answer this stupid argument. The fact is, no debt is being forgiven here. A party that did not consent to the debt, did not profit from it, and was not even participating in the transaction is being forced to accept the debt from the debtor party who agreed to it.
Christians are not against debt forgiveness. I think that it is a wise concept that should be practiced across our country and especially when it comes to our government since they are now just a de facto business.
White House Press Secretary Karine Jean-Pierre was confronted about the handout by Fox News reporter Peter Doocy in which he asked the most simple question, “Who is paying for it?” Jean-Pierre was completely unable to answer the question.
The following comes directly from the White House website:
Q Who’s paying for this?
MS. JEAN-PIERRE: And that — again, here’s what we have done. Here’s what —
Q But you’re talking a lot about how much it might cost, it might not cost. Who is paying for this?
MS. JEAN-PIERRE: What we are saying is the work that this administration has done, the work that the Democrats and Congress has done is actually there. And you see that the $1.7 trillion deficit — in deficit deduction that you see is going to benefit us in being able to do something for the middle class —
Q I understand. But you can’t just —
MS. JEAN-PIERRE: — to do something for the middle class.
Q But when you forgive —
MS. JEAN-PIERRE: This is about doing something for people who make less than $125,000. $1.7 trillion — that’s what we’ve been able to do.
Q But when you forgive debt, you’re not just disappearing debt. So who is paying for this?
MS. JEAN-PIERRE: But — and then I’ll give you the second part: We lifted the pause, right? We’re going to lift the pause at the end of this year, which is going to matter — right? — which is going to offset a lot of what — what we’re doing as well.
When you think about the — the $4 billion that are going — that’s going to go back into — as revenue back into this process of folks paying — paying — right? — their college tuition, that matters as well.
So we’re doing this in a smart way. We’re doing this in a way that’s going to be effective. We’re doing in this a way that keeps the President’s promise on giving people who need some breathing room — who need some breathing room.
Q But somebody is paying for it. Who?
MS. JEAN-PIERRE: I just — I just laid out — I just laid out for you —
MS. JEAN-PIERRE: No, Peter, I just laid out for you how we’re seeing this process and why this matters.
Q Is it wealthy Americans? Is it corporations? Who is paying?
MS. JEAN-PIERRE: Again, I just laid out
.@pdoocy: When you forgive debt, you're not just disappearing debt, who is paying for this?
KJP refuses to give a straight answer. pic.twitter.com/YUNY0nkOpi
— Media Research Center (@theMRC) August 24, 2022