Tom Cotton: Biden’s student loan handouts may be the dumbest thing yet out of this White House

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Cotton: Biden’s student loan handouts may be the dumbest thing yet out of this White House

Sen. Tom Cotton, R-Ark., says President Biden’s debt cancellation move is a ‘shameless bribe.’

Sen. Tom Cotton, R-Ark., told "America Reports" on Wednesday that President Biden’s student loan debt cancellation move is "the dumbest thing yet out of this White House."

BIDEN ANNOUNCES STUDENT LOAN HANDOUT AS NATIONAL DEBT SOARS

SEN. TOM COTTON: The president doesn't have the power just to unilaterally, on his own, eliminate entire categories of debt. Maybe he has the power to negotiate a settlement in one case that's disputed, but eliminate entire categories of debt. Now, he doesn't have that power, irrespective of lawsuits. That'll be coming, John. Of all the dumb things Joe Biden has done, this may be the dumbest yet. I know it's stiff competition. But just think about how unfair this is for all the Americans who are harmed by this, who are now on the hook for hundreds of billions of dollars of other people's loans, all the Arkansans who didn't go to college, who became farmers or ranchers, plumbers, carpenters, welders, all the Arkansans who went to college and worked to put themselves through. They didn't have to take out debt, whether they were waitressing or bartending. And all of the Arkansans who went to college and took out loans and paid off those loans. Not only do they not benefit from this, but they are harmed by it because they now are on the hook through their tax dollars and our public debt for paying off hundreds of billions of dollars of other people's loans. Not just it's also highly inflationary. Highly inflationary at a time when we still have record high inflation. And finally, it simply encourages colleges to raise tuition, harming a new generation of students. That's why I say this is a terrible policy. It's going to harm many more Americans than it will help.

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