{"id":1435972,"date":"2022-04-13T16:31:24","date_gmt":"2022-04-13T20:31:24","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1435972"},"modified":"2022-04-13T16:31:27","modified_gmt":"2022-04-13T20:31:27","slug":"politically-weak-biden-considers-fiscal-suicide","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/politically-weak-biden-considers-fiscal-suicide\/","title":{"rendered":"Politically Weak Biden Considers Fiscal Suicide"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fpolitically-weak-biden-considers-fiscal-suicide%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1435972&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div>\n\t\t\t<span class=\"article-category\"><a class=\"\" href=\"https:\/\/freebeacon.com\/biden-administration\/\">Biden Administration<\/a><\/span><\/p>\n<p class=\"article-excerpt\">Senate majority leader says president is &#8216;more open&#8217; to forgiving student debt &#8216;than ever before&#8217;<\/p>\n<figure class=\"post-thumbnail-container relative lg:mr-24 w-full my-4 mb-8\"><figcaption class=\"absolute text-white p-4 w-full text-right text-xs bottom-0 bg-black opacity-75\">\n\t\t\t\tGetty Images\t\t\t<\/figcaption><\/figure>\n<p>\t\t\t<span class=\"text-gray text-xs md:text-lg\"><a href=\"https:\/\/freebeacon.com\/author\/karl-salzmann\/\" title=\"Posts by Karl Salzmann\" class=\"author url fn text-red-700\" rel=\"author\">Karl Salzmann<\/a> \u2022 April 13, 2022 4:15 pm<\/span><\/p><\/div>\n<div>\n<p>President Joe Biden is &#8220;more open \u2026 than ever before&#8221; to having the federal government take on massive student debt, Senate majority leader Chuck Schumer (D., N.Y.) announced Wednesday.<\/p>\n<p>Schumer told the Student Debt Crisis Center he is &#8220;making progress&#8221; on persuading Biden to &#8220;wipe out federal student loans by signing an executive order,&#8221; <i>Business Insider<\/i> <a href=\"https:\/\/www.businessinsider.com\/biden-more-open-to-canceling-student-loan-debt-chuck-schumer-2022-4\" target=\"_blank\" rel=\"noopener\">reported<\/a>. He called for Biden to cancel at least $50,000 in debt per borrower, an amount also promoted by progressives in Congress.<\/p>\n<p>&#8220;We want our young people to realize that they can have a good future,&#8221; Schumer said. &#8220;One of the best ways to do it is by canceling student debt, by getting rid of the $50,000, even going higher after that.&#8221;<\/p>\n<p>Canceling just $50,000 in debt per person will cost the federal government $950 billion. Canceling all student loans will put the government $1.6 trillion in debt, <a href=\"https:\/\/www.crfb.org\/blogs\/what-does-student-debt-cancellation-mean-federal-finances\" target=\"_blank\" rel=\"noopener\">according to<\/a> the Committee for a Responsible Federal Budget. The federal government&#8217;s <a href=\"https:\/\/datalab.usaspending.gov\/americas-finance-guide\/spending\/\" target=\"_blank\" rel=\"noopener\">entire budget<\/a> last year was $6.82 trillion.<\/p>\n<p>Experts have said student-loan cancellation would benefit the wealthiest students &#8220;while leaving behind, or perhaps even draining from, the neediest,&#8221; the <em>Washington Free Beacon<\/em> <a href=\"https:\/\/freebeacon.com\/democrats\/dem-student-loan-cancellation-plan-a-bad-call-experts-say\/\" target=\"_blank\" rel=\"noopener\">reported<\/a>. The top 40 percent of wage earners carry more than half of all student-loan debt.<\/p>\n<p>Biden on the campaign trail promised he would cancel $10,000 in federal student loans but has not done so. His press secretary, future <a href=\"https:\/\/freebeacon.com\/media\/lib-journos-at-nbc-dont-want-to-hire-psaki\/\" target=\"_blank\" rel=\"noopener\">MSNBC host<\/a> Jen Psaki, has made contradictory statements on student-loan cancellation.<\/p>\n<p>Psaki has said Biden would be &#8220;happy to sign&#8221; a bill on debt cancellation, an idea Schumer has shot down. She said on April 6 the president &#8220;has not ruled out&#8221; canceling debt via executive order but told Fox News on April 10 she &#8220;suspect[s]&#8221; Biden will &#8220;at some time&#8221; make borrowers pay.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Biden Administration Senate majority leader says president is &#8216;more open&#8217; to forgiving student debt &#8216;than ever before&#8217;  Getty Images  Karl Salzmann \u2022 April 13, 2022<\/p>\n","protected":false},"author":162,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1435972","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1435972","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/162"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1435972"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1435972\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1435972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1435972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1435972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}