Psaki: Forgiving Student Loans May Impact Inflation - Has Not Been Studied
The White House said Monday: The Biden administration is weighing up using income to determine eligibility as part of a potential plan to cancel hundreds of millions of dollars of federal student loan debt but has not yet analyzed how it would impact inflation.
Imagine what student loan forgiveness would mean for you or your family members?
Americans have an estimated $1.6 trillion in student loan debt. That's almost 5 times the $325 billion the government sent out in about 127 million stimulus checks.
$1.6 trillion = $ 1,600,000,000,000
President Joe Biden says he might try to forgive $10,000 in debt per student borrower, likely through executive action, experts say that could increase inflation.
Inflation is theft. It siphons money particularly from poor, working and middle-class Americans.
Joe Biden fueled inflation with absurd fiscal policies that included continuing to pay people not to work during the COVID lockdowns.
$325 billion = 325,000,000,000
$325 billion in Stimulus Checks resulted in Consumer prices rising 8.5 percent in March compared to the year prior, the highest level in more than 40 years.
Imagine what student loan forgiveness would mean for you or your family members? Run-a-way Biden Inflation and Gas Price surges may be in your future.
About 42.9 million Americans have federal student loans, meaning the Biden will forgive $429 billion in student debt.
$429 billion = 429,000,000,000
That's means Biden will pass an executive that releases 1.3 times more money than the COVID Stimulus Checks, possibly resulting in an additional 10-11 percent inflation on top of Biden's 40 year high of 8.5 percent.
Add on Biden's never ending supply of Billions to the Ukraine and inflation could top 20 percent before Biden leaves office.
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