President Biden’s announcement that he will forgive a portion of student loan debt is adding another $300 billion in unchecked spending to inflation rates already at 40 year highs. The Committee for a Responsible Federal Budget found that “debt cancellation would boost near-term inflation far more than the IRA will lower it,”
Here in the 3rd District, less than 27% of residents hold a Bachelor’s degree or higher. Meaning more than 73% of people who do not hold those degrees will be paying off the debts of those who took on loans in the first place.
This week, Joe Biden and Washington Democrats just threw the vast majority of the 3rd District under the bus. Every tradesman, truck driver, farmer, grocery clerk, and everyone else who chose an alternate path to college. It is absolutely un-American to force those who did not take out loans to pay for those who did, and to punish those who sacrificed to pay off their loans. It’s indicative of what we’ve seen from Democrats including my opponent: more spending to benefit themselves and get reelected. It is a disgrace.