Former Clinton Advisor Comes Out Against Biden’s Student Debt Plan
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Paul Begala, a former Bill Clinton adviser blasted Joe Biden’s student debt plan as “terrible policy.”
Begala also called it “bad politics.”
Former adviser to Bill Clinton Paul Begala criticized President Biden’s student loan debt handout on Sunday during CNN’s “State of the Union,” saying it was “terrible policy.”
“Well it’s bad policy as well as bad politics. For that amount of money, you could fund free pre-k for every 3 and 4-year-old for 10 years. You can do a lot more good for poor people, communities of color and the underprivileged by doing pre-k. You could forgive all medical debt, which unlike student debt is not freely entered into,” Begala said, adding that he was a “progressive.”
He said that Biden’s plan was “terrible policy,” and noted Ohio Democratic Senate candidate Tim Ryan, who also came out against Biden’s plan.
The University of Pennsylvania’s Wharton Business Model is predicting the plan could cost over $1 trillion.
The University of Pennsylvania’s Wharton Business Model calculates that President Joe Biden’s new student loan cancellation plan could cost over $1 trillion, depending on the program’s final parameters and people’s response to it.
Biden announced on Wednesday that he was unilaterally canceling up to $10,000 student loan debt for individuals earning $125,000 or less and families making $250,000 or less.
For those who received Pell Grants, they will be eligible for up to $20,000 in debt forgiveness, with the same income thresholds.
