President Biden’s claimed intentions to forgive student loan debt is drawing criticism yet again, with one well-known investor and television personality calling the move “un-American.”
Sandy Hook families who won almost $1.5 billion in their legal battle against Infowars host Alex Jones have offered to settle that debt for less money.
Record debts, high interest rates, the costs of climate change, health and pension spending and fractious politics are stoking fears of a financial market crisis.
According to the Penn Wharton Budget Model, President Joe Biden’s new income-driven repayment plan for student loans will cost $475 billion over the next ten years, which is tens of billions more than a previous proposal that the Supreme Court rejected last month.
The House has passed resolution to raise the debt ceiling.
The Biden administration will reportedly start collecting federal student loan payments and added interest for millions of Americans again by the end of the summer, as a result of the agreement reached by the president and House Speaker Kevin McCarthy to raise the country’s debt ceiling.
President Joe Biden and Speaker Kevin McCarthy will meet this afternoon on May 28th to finalize the debt ceiling agreement, and then Republicans will release the legislative bill, according to House Democrat Leader Hakeem Jeffries who had informed the Democrat caucus of the news in a letter on Sunday.
President Joe Biden stated on Sunday that the president should bear no responsibility if the United States were to default on its debt in the near future.