Where is the money going to come from?

[Votto]

Reporter is forced to ask WH press secretary same question six times because she won't answer directly: 'Who is paying for this?' | Blaze Media

White House press secretary Karine Jean-Pierre repeatedly dodged a simple question on Wednesday about President Joe Biden's student loan debt forgiveness plan.The White House press briefing was the first one held in more than two weeks.What happened?When it was Fox News correspondent Peter...

www.theblaze.com

The Biden administration won't answer. But with like everything else, the media won't make them answer cuz Orange man bad and there is an election to win in November.

White House press secretary Karine Jean-Pierre repeatedly dodged a simple question on Wednesday about President Joe Biden's student loan debt forgiveness plan.

The White House press briefing was the first one held in more than two weeks.

What happened?​

When it was Fox News correspondent Peter Doocy's turn to ask a question, he chose the obvious, "How can the country afford such a massive handout?"

What followed was a lengthy exchange in which Jean-Pierre claimed the Biden administration has brought down the budget deficit by $1.7 trillion, suggesting those purported savings are what will pay for student loan debt forgiveness.

But after she attacked Republicans for passing tax cuts during the Trump administration, Doocy was forced to ask the same question six times because Jean-Pierre repeatedly dodged his line of inquiry.

"Who is paying for this?" Doocy asked.

At first, Jean-Pierre cited the alleged $1.7 trillion in deficit reduction. But Doocy quickly pointed out that "forgiving" student loan debt does not make it disappear. So he asked again, "Who is paying for this?"

Next, Jean-Pierre tried to claim that lifting the moratorium on student loan payments will help pay for the cost of Biden's plan. But by her own admission, the revenue generated from payments pales in comparison to the estimated cost of the plan.






"But somebody is paying for it. Who?" Doocy asked again. "Is it wealthy Americans? Is it corporations? Who is paying?"

Jean-Pierre, however, never really answered the question. Instead, she claimed Biden's COVID-19 stimulus bill, the Inflation Reduction Act, and "all of this work that this president has done" has produced $1.7 trillion in deficit reduction.

The press secretary then abruptly moved on to the next reporter.

Has Biden really lowered the deficit by $1.7 trillion?​

The talking point sounds great. But it's not true.

What is true is the deficit has been reduced by about $1.7 trillion between 2021 and 2022 — but not because of Biden.

When the COVID-19 pandemic hit in 2020, government revenues dried up as businesses shut down. The significant reduction in tax revenues combined with the trillions of dollars in pandemic relief caused the national deficit to quickly balloon.

This means the deficit was always going to decrease because pandemic-related spending has waned.

The Congressional Budget Office explains:

CBO projects that the federal budget deficit will shrink to $1.0 trillion in 2022 (it was $2.8 trillion last year) and that the annual shortfall would average $1.6 trillion from 2023 to 2032. The deficit continues to decrease as a percentage of gross domestic product (GDP) next year as spending related to the coronavirus pandemic wanes, but then deficits increase, reaching 6.1 percent of GDP in 2032.

As the CBO explained, a budget deficit of about $1 trillion still exists. Biden is therefore not saving Americans any money.

So the question remains: Who is going to pay for student loan debt forgiveness?

 

[Resnic]

They will just add to the national debt is all they will do. They will just create more money that is backed by no tangible assests.

The result will be........

They just print it and lower the value of the dollar.

They will just add it to the national debt and sell more of our debt to china.

Or they will use their new IRS agents to steal it from Americans.

Personally I think they will add it to our debt and try to mask our inflation as long as they can until it it bursts then they will blame it all on trump and republicans. That's when the world economic forums plan for the great reset will really begin because we can see the current administration already putting the world economic forums plans into action.

But at the end of the day, we the middle Americans are going to pay for it. One way or the other.

 

[candycorn]

Inflation eased again this past month. Job growth is strong. The markets are doing well. Earnings are up.

Looks like bad news for you.

 

[Maxdeath]

It will just be added to the governmental credit card.
The democrats see they are losing and it is a means of buying votes that will not cost them anything.
If it had been proposed by a Republican the left would be screaming about spending. But since it is a democrat it is all fine and I want my share.

 

[odanny]

We know where it's not coming from: Broke assed Votto

 

[Woodznutz]

Inflation eased again this past month. Job growth is strong. The markets are doing well. Earnings are up.

Looks like bad news for you.

True. Wages rise with prices, which mitigates the effects of inflation. We just have a new set of numbers. Interest rates on savings rise as well, so savers don't get shafted. Of course, it takes a while for everything to balance out.

 

[Votto]

They will just add to the national debt is all they will do. They will just create more money that is backed by no tangible assests.

The result will be........

They just print it and lower the value of the dollar.

They will just add it to the national debt and sell more of our debt to china.

Or they will use their new IRS agents to steal it from Americans.

Personally I think they will add it to our debt and try to mask our inflation as long as they can until it it bursts then they will blame it all on trump and republicans. That's when the world economic forums plan for the great reset will really begin because we can see the current administration already putting the world economic forums plans into action.

But at the end of the day, we the middle Americans are going to pay for it. One way or the other.

Na, Mexico will pay for it.

 

[Votto]

We know where it's not coming from: Broke assed Votto

Well that is why you kids hired the army of IRS workers with guns

If you can't tax'em, kill'em.

 

[Oddball]

Inflation eased again this past month. Job growth is strong. The markets are doing well. Earnings are up.

Looks like bad news for you.

PMI as low as ever,....Target, Walmart, Nordstrom al badly missing sales targets.....Consumer confidence at the lowest since the 1950s....Thousands upon thousands of businesses failing to make rent payments.....

 

[DGS49]

But seriously, folks...

This money is OWED TO SOMEBODY. I understand that banks and other lending institutions are carrying the paperwork and administering the loans, but who, exactly, was the LENDER? Where did the money come from?

If it were paid off, where would that money have ultimately gone? Is that person or entity now out hundred of billions of dollars? Am I (eye) that disappointed person or entity?

Inquiring minds want to know. It is not a fatuous question.

And of course, once this is known, it becomes clearer that the President lacks the Constitutional authority to do it, regardless of the answers to the above questions.

Who has legal standing to fight this? Republican Congress-persons? Taxpayers? Investors?

 

[1srelluc]

Just read through this shit....LOL....All your info will belong to the .gov.. How much do you want to bet they go right on dem potential voter/donor lists.

Biden's student loan forgiveness policy: How to apply, who qualifies, more

 

[Ralph Norton]

Inflation eased again this past month. Job growth is strong. The markets are doing well. Earnings are up.

Looks like bad news for you.

And that is relevant how?
Oh, that's right. It's not.

 

[Votto]

And that is relevant how?
Oh, that's right. It's not.

The Left stopped being relevant long ago

Now they just crack the whip for the country who is in their chains.

You think inflation is bad now?

LOL.

 

[Damaged Eagle]

Plenty of ink

*****SMILE*****

 

[odanny]

View attachment 687277

Plenty of ink

*****SMILE*****

Where ya been, girlfriend?

 

[Concerned American]

but who, exactly, was the LENDER?

The lenders were banks, but the government guaranteed repayment, so as is always the case, you and I are the ones who will pay the banks back while the low-lifes that signed the loan go scott free. Personal responsibility is no longer an attribute. WTH, it worked with the mortgage crises with these same deadbeats buying Mcmansions on McD's salaries and when reality hit--they all just walked away.

 

[Woodznutz]

Biden can't forgive private debt, only government loans. And yup, us taxpayers will pay the bill, and get nothing in return.

 

[Woodznutz]

View attachment 687277

Plenty of ink

*****SMILE*****

Nothing wrong with printing money, as long it doesn't go through the Federal Reserve Banking system and become government debt.

 

[Concerned American]

Biden can't forgive private debt, only government loans. And yup, us taxpayers will pay the bill, and get nothing in return.

The government didn't loan the money--only guaranteed repayment. Much the same as an FHA or VA loan. That is the next communist move. Pay off those mortgages that these poor people are saddled with. SMFH. After all, what is the difference. These poor people are burdened with that tremendous mortgage debt. Before you say, "But they have the home as a result of the debt." think about the fact that these student loan deadbeats have an education and the resultant higher income potential. The whole argument is pure bullshit.

 

[candycorn]

And that is relevant how?
Oh, that's right. It's not.

Sure it's relevant.

It's just not convenient for the right wing fear machine.