President Biden’s plan to write off $10,000 to $20,000 in student loans per borrower will drive inflation, Gov. Ron DeSantis (R) Tuesday.
“And what will drive inflation is this huge student loan bailout that taxpayers are giving away maybe a trillion dollars worth of student loans to put on their backs,” DeSantis said at a press conference.
And frankly, we have people who, you know, worked their way through college and paid off their loans. We have some people who have made a different decision, “You know, maybe I don’t want to go to college because I don’t want to be in debt. I’m going to go into business or business.” And they made such a decision because they didn’t want to pay the loans, and now they have to pay as taxpayers.
“You also have a situation that will increase inflation. … I’m not the only one saying this. “One of Obama’s leading economists came forward and said that it was like pouring gasoline on a fire by giving a trillion-dollar bailout when we were already facing inflation.” “Biden has no authority to do that.”
“It cannot be done unilaterally. There is no authority. It refers to the 9/11 law,” he said, explaining that it includes loans from first responders and the military.
“How does that equate to someone getting a PhD in gender studies? That’s not the case,” he said, explaining that removing student debt should focus on universities.
“The university has to be on the lookout for this, because they’re the ones who really use this system we’ve had for the past few decades,” he said, adding that Biden ignored that aspect.
“It does nothing to reform universities, which will worsen inflation,” he said, adding that the lack of reform in universities is unjustified.
Source: Breitbart
