Student Loan Forgiveness is an Inflation Expansion Act

Wasn’t it just last week that Democrats were touting something called the Inflation Reduction Act? So much for that. The press everywhere reports that as early as Wednesday, President Biden will announce that he is canceling student debt and extending the moratorium on student loan repayment for several months.

This is a law on the expansion of inflation. Reports say Mr. Biden will forgive $10,000 of debt for borrowers earning $125,000 or less a year. It would cost about $300 billion this year and $330 billion over 10 years, according to Penn Wharton’s budget model.


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