Ari Fleischer slams Biden's student loan handout plan: When you apply for a loan, you pay back your loan

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Ari Fleischer: When you ask for a loan, you have a fundamental obligation to pay back that loan

'Special Report' panel reacts to President Biden announcing student loan handout Wednesday as national debt soars.

Fox News contributor Ari Fleischer warned President Biden's student loan handout plan teaches children that money is free and says the plan is wrong on every level on Wednesday's "Special Report."

ARI FLEISCHER: I just think this is wrong on every level. Is there any one of us who would want to teach our children that when you ask for a loan, the proper procedure is not to pay it back and then expect it to be just dismissed as if money is for free. When you ask for a loan, you have a fundamental obligation to pay back that loan. And the government should not do this. Why are they doing this one? Why not taxpayers who have loans out to the IRS? The IRS has told a lot of taxpayers that you owe us money and we're charging you interest on it. Should the government dismiss those? 

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What about people who owe car companies for their car loans? What about people who mortgage debt? Should that be forgiven? No. The answer is that when you apply for a loan, you pay back your loan. And for the government to be the one dismissing this is just irresponsible. And it's also a fundamental redistribution of wealth from high school students, people with a high school diploma to college students. It doesn't get more wrong. 

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