Democrats' student loan cancellation is “Inflation Expansion Act”

Wall Street Journal: This is an inflation expansion act. The reports say Mr. Biden will cancel $10,000 in debt for borrowers making $125,000 or less a year. That would cost about $300 billion this year, and $330 billion over 10 years. That’s far more than the $102 billion the Inflation Reduction Act purportedly reduces the deficit over 10 years starting in 2027 (Wall Street Journal).

RNC Research: Biden claims canceling student loans won’t have any “meaningful effect on inflation.” That is FALSE — even former Obama economists say it will make inflation worse (Twitter).

Rep. Ashley Hinson: President Biden’s plan to “cancel” student loan debt is a handout to the wealthy and a total slap in the face to working Americans (Twitter).

Congressman Dan Meuser: Why pay off your self imposed debt if Biden Democrats can get a hard working American to do it for you? Forgiving self induced student debt is a moral hazard for our country & will enhance inflation. Another out of touch and wasteful policy from Biden-Pelosi-Schumer Democrats (Twitter).

Mike Gallagher: You borrow money to buy a car, buy a house, get a college education, you gotta pay it back. And if you don’t pay it back, you are irresponsible. And these filthy dirty Democrats want to reward the irresponsible deadbeats who don’t want to pay back their college tuition bill (Daybreak Daily).