Biden’s “Build Back Better” Will Cost Twice as Much as He Claims

If you get your answer off by 100% on a math test, you’ll probably fail. But if you’re budget wonks at the Biden White House, you’ll probably get a promotion.

The new Ivy League Analysis finds that one of the Biden administration’s key policies will cost taxpayers TWICE as much as his staff originally claimed. Analysts at the Penn-Wharton Budget Model analyzed the president’s plan for expanded income-based repayment plans, which as I’ve previously Explained, forgive large amounts of student debt if you make small payments for a set period of time, and found they’re going to be much more expensive than the president promised.

The Education Department estimates that the plan will run to $138 billion over a 10 year period. However, Penn-Wharton experts modelled it using more realistic assumptions, which account for increased participation. They estimate that it will cost between $333 billion to $361 billion. That’s more than double the initial estimate! It would cost approximately $2300 per federal taxpayer at this cost.

This increased cost is actually an advantage! Belowestimate. Why? Well, because it doesn’t take into account the fact that tuition prices will almost certainly surge even higher after this subsidy takes effect, inevitably leading to even higher costs for the future forgiveness programs.

Oh, and the income-driven repayment plan actually financially encourages people to study things where they’re going to earn less money. Yes, Take it seriously.

This is what you need to do to get the expected $469 billion Biden’s other student loan handout plans will cost, too.

Meanwhile, the only beneficiaries from all this are people who went to college, who aren’t exactly the ones struggling in our society right now. Comfort the elite by bankrupting taxpayers

Is that really all there is to it? “Build Back Better” meant?

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