Dave Ramsey SCORCHES Biden – Pulls No Punches
(RightWing.org) – With inflation still ravaging the country, President Joe Biden decided to add fuel to the fire by announcing another handout — this time in the form of college loan forgiveness. As usual, he gave a rambling speech announcing the program along with a walk down memory lane featuring his ’51 Plymouth, baseball, and beach towels. But, back on earth, radio host and financial guru Dave Ramsey had a few choice words for the president regarding his apparent political stunt.
On August 24, Ramsey and co-host Rachel Cruze tore into the decision to erase $10,000 of student loan debt for anyone earning up to $125,000 and as much as $20,000 for Pell Grant recipients. The hosts told fans they were happy for anyone who had their debt forgiven.
However, Ramsey pointed out that many people who had already paid off their college debt were “unhappy” with the news. Now, they get the “burden” of having to pay off the outstanding balances of others, he explained.
Noting the debt relief program was “intellectually dishonest,” Ramsey got to the heart of the matter, calling it a “political move.” He warned viewers the administration timed the ploy to get voters’ attention to distract from Biden’s “economically failed presidency” with the midterms weeks away.
Putting this into perspective, a study of the president’s plan by the University of Pennsylvania’s Wharton School found the debt cancellation portion of the measure would cost taxpayers up to $519 billion. Depending on the measure’s exact details and future adjustments, the total price tag could exceed $1 trillion.
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