Home » World News » White House won't reveal if it did a cost analysis of student loan handout that may total $500 billion or more
White House won't reveal if it did a cost analysis of student loan handout that may total $500 billion or more
Florida couple who paid off $190k in student debt ‘a little angry’ over Biden’s handout
Cristina and Sherman Merricks reveal how they paid their student loan debt in 27 months and reveal what they think about the president’s handout on ‘Varney & Co.’
President Biden is under fire for not making public a cost analysis public of the administration's massively expensive proposal to cancel between $10,000 to $20,000 in student debt for many Americans. Economists say the lack of an estimation of costs and absence of any public analysis begs the question of whether the numbers were run at all for a plan estimated by fiscal watchdogs to cost anywhere between $500 billion to $1 trillion over the next decade.
Economists from across the political spectrum told Fox News Digital it was troubling the White House had announced a policy without providing a breakdown of its cost.
"For the White House to put out a potentially trillion-dollar proposal without even releasing budget estimates, is grossly irresponsible to taxpayers," said Brian Riedl, a senior fellow in economics at the center-right Manhattan Institute. "This is one of the biggest federal initiatives of the past couple of decades, and we still don't know what it's going to cost."
Ben Ritz, a budget and fiscal policy expert at the center-left Progressive Policy Institute, was even blunter in his assessment.
WHITE HOUSE REFUSES TO SAY WHO WILL PAY FOR BIDEN $500,000,000,000 STUDENT LOAN HANDOUT