President Joe Biden recently indicated that he would seriously consider student loan forgiveness. But according to former White House economic adviser Stephen Moore, this gesture is not only bad politics but “worse economics” and would make the record-high inflation even worse.
“It’s not forgiveness … It’s shifting the burden from the people who borrowed the money to you and I and all the taxpayers,” Moore told NTD Business on April 28.
Moore is a co-founder of the Committee to Unleash Prosperity and a distinguished visiting fellow at the Heritage Foundation.
“And by the way, if they were to do this plan, would anybody ever in the rest of history pay their student loans when the government’s just going to forgive you for them? So we’re going to have problems in the short term and long term if we do this,” said Moore.
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