Arroyo slams Biden's student loan handout on 'Outnumbered': 'This is the country club safety net'

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Arroyo on Biden student loan handout: 'This is the country club safety net'

Fox News contributor Raymond Arroyo discusses how Biden's student loan handouts only help the wealthy and affect people looking to achieve the American dream

Fox News contributor Raymond Arroyo explained on "Outnumbered" Thursday why the student loan handouts signed into law by Biden will affect working-class people and assist the wealthy. 

BIDEN STUDENT LOAN HANDOUT TO COST ROUGHLY $500B, ACCORDING TO COMMITTEE FOR A RESPONSIBLE FEDERAL BUDGET

RAYMOND ARROYO: We've all heard of the social safety net. This is the country club safety net. These are people who are going to earn millions of dollars getting welfare, essentially. And as Dagen alluded to, people don't realize we have been in the business of subsidizing these student loans for a long time. Every time somebody defaults on their loan, every month, you and I pick up the payment. The federal government does that. So 500 billion is nothing compared to what we will ultimately pay. … My father is a mechanic. My mother was a secretary, worked double shifts to put me through school. Had they known something like this was going on? Imagine the lack of initiative, the lack of entrepreneurship, the lack of vision that may have happened as a result of it. We need people to be hungry enough to claw their way out of their current circumstances and give their kids a better way. But the people should do that, not the government. The government should be helping businesses thrive, not these bureaucrats. This is a handout to Biden supporters.

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