During an interview released on Friday’s “Fox News Rundown” podcast, White House Council of Economic Advisers member Jared Bernstein responded to a question on why President Joe Biden’s loan plan is fair to people who paid back their loans by stating that Biden promised debt cancellation on the campaign trail and Biden had arguments with Democrats who wanted the plan to be bigger.
Host Jared Halpern asked, “Why is it fair to taxpayers who did the right thing, right? They went to school, they earned the degree, they took out the loans, they paid it back, over maybe a decade, maybe two decades, and now they’re sort of being asked to foot this bill.”
Bernstein responded, “This is something that the President talked about in the campaign. And that, as I think you yourself said earlier, that he had lots of arguments with Democrats on the other side of that equation. So, there are a lot of people saying, don’t go too small, do 50,000. And there were people saying, don’t do anything, it’s unfair to this generation. And I think what President Biden did is what he always does, he tells you what he’s going to do, and kind of miraculously, given the partisanship that you and I have actually kind of been implicitly talking about, he then somehow figures out a way to do it. So, I think he really threaded the needle here, to the great benefit of over 40 million people.”
Follow Ian Hanchett on Twitter @IanHanchett
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