Transparency is not exactly a friend to this administration.
Almost a full week after Joe Biden announced his student loan debt “forgiveness” plan, the administration has yet to tell people how it will be paid for.
Not only that, but they are still being shady about an actual price tag for the Biden order.
Free Money
Joe and company would love everyone to believe that this debt just magically disappeared with the stroke of Joe Biden’s pen.
That, however, is far from the case.
Even though the people borrowing the money will not be paying it back, someone has to foot this bill.
The closest anyone has come to say how this money will be recovered was Bharat Ramamurti, deputy director of the National Economic Council, but his explanation was pure nonsense.
He stated, “It is paid for and far more by the amount of deficit reduction that we’re already on track for this year.
“Like I said, we’re on track for $1.7 trillion in deficit reduction this year.
“That means, practically speaking, compared to the previous year, 1.7 trillion more dollars are coming into the Treasury than are going out.
“And we’re using a portion of that — a very small portion of it — to provide relief to middle-class families, consistent with the president’s plan.”
That entire explanation is a lie.
This year, Joe Biden has already accumulated $2.769 trillion in debt, and we have yet to see the impact of the latest spending packages.
I feel fairly confident in saying there is no way Joe Biden can make a $4.4 trillion swing before the end of the year.
Lies, lies, and more lies… that is what this administration deals in.
