+
Education

'STOP VOTING FOR DEMOCRATS': Trump Torches Biden's Loan Handout, 'Hurts Working-Class Americans'

posted by Hannity Staff - 8.25.22

Former President Donald Trump has a message for Americans: stop voting for Democrats.

Trump torched President Biden’s $300 billion dollar handout to coastal elites in a statement on Thursday, calling the student loan debt forgiveness “another electionenhancing money grab.”

“Joe Biden and the Radical Left Democrats have just orchestrated another electionenhancing money grab, this time to the tune of $300,000,000,000 — and just like I predicted, it’s coming right out of the pocket of the working-class Americans who are struggling the most!” Trump said Thursday in a statement. “Crippling inflation, unaffordable energy prices, and WAR — all things that should never have happened.”

“But if that wasn’t enough, now Americans are bailing out College Administrators who fleeced students, and those who opted for Degrees there was no way they could afford,” Trump continued. “America is a nation in decline, and the cliff into oblivion is within sight.”

He added: “Stop voting for Democrats! MAKE AMERICA GREAT AGAIN!”

More From Fox News:

Biden announced Wednesday that he will deliver on a campaign “commitment” to cancel $10,000 of federal student loan debt for certain borrowers making less than $125,000 per year, and up to $20,000 for Pell Grant recipients, while extending the pause on federal student loan payments through the end of the year.

According to a Penn Wharton Budget Model, a one-time maximum debt forgiveness of $10,000 for borrowers who make less than $125,000 will cost around $300 billion for taxpayers. Some economists argue that will spur inflation. The $300 billion adds up to about the amount of deficit reduction included in the so-called Inflation Reduction Act passed earlier this month.

And according to an estimate from the Committee for a Responsible Federal Budget, the plan will cost U.S. taxpayers between $440 billion and $600 billion over the next 10 years.