{"id":1622805,"date":"2022-08-26T10:15:19","date_gmt":"2022-08-26T14:15:19","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1622805"},"modified":"2022-08-26T10:15:24","modified_gmt":"2022-08-26T14:15:24","slug":"indefensible-former-obama-adviser-trashes-bidens-student-loan-plan","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/indefensible-former-obama-adviser-trashes-bidens-student-loan-plan\/","title":{"rendered":"\u2018Indefensible\u2019: Former Obama Adviser Trashes Biden\u2019s Student Loan Plan"},"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\">18<\/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%2Findefensible-former-obama-adviser-trashes-bidens-student-loan-plan%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=1622805&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\">Jason Furman slams White House proposal: &#8216;Pouring roughly half trillion dollars of gasoline on the inflationary fire that is already burning is reckless.&#8217;<\/p>\n<figure class=\"post-thumbnail-container relative lg:mr-24 w-full my-4 mb-8\">\n\t\t\t\t\t<\/figure>\n<p>\t\t\t<span class=\"text-gray text-xs md:text-lg\"><a href=\"https:\/\/freebeacon.com\/author\/andrew-stiles\/\" title=\"Posts by Andrew Stiles\" class=\"author url fn text-red-700\" rel=\"author\">Andrew Stiles<\/a> \u2022 August 24, 2022 4:10 pm<\/span><\/p><\/div>\n<div>\n<p>President Joe Biden&#8217;s plan to cancel up to $40,000 of student loan debt for households earning $249,000 a year is &#8220;reckless&#8221; and &#8220;indefensible,&#8221; former Obama adviser Jason Furman said Wednesday.<\/p>\n<p>Furman, a Harvard professor who served as deputy director of the U.S. National Economic Council, denounced the administration&#8217;s proposal in a lengthy Twitter <a href=\"https:\/\/twitter.com\/jasonfurman\/status\/1562503985529233410\" target=\"_blank\" rel=\"noopener\">thread<\/a>. &#8220;Pouring roughly half trillion dollars of gasoline on the inflationary fire that is already burning is reckless,&#8221; he wrote. &#8220;Doing it while going well beyond one campaign promise ($10K of student loan relief) and breaking another (all proposals paid for) is even worse.&#8221;<\/p>\n<p>In response to a White House fact sheet citing examples of how the plan would help low- and middle-income Americans, the economics expert questioned why the administration would &#8220;design a policy that would provide up to $40,000 to a married couple making $249,000&#8221; and includes law and business school loans among those eligible for forgiveness. Furman also slammed the &#8220;incoherent, inconsistent [and] indefensible cherry picking&#8221; the White House used to argue the plan would not lead to increased inflation.<\/p>\n<p>&#8220;There are a number of other highly problematic impacts including encouraging higher tuition in the future, encouraging more borrowing, creating expectations of future debt forgiveness, and more,&#8221; Furman wrote, adding that hardworking Americans\u00a0&#8220;will pay for this either in the form of higher inflation or in higher taxes or lower benefits in the future.&#8221;<\/p>\n<p>Many legal experts, including former Obama administration attorney Charles Rose, have <a href=\"https:\/\/freebeacon.com\/biden-administration\/biden-lacks-authority-to-cancel-student-debt-obama-admin-lawyer-says\/\" target=\"_blank\" rel=\"noopener\">argued<\/a> that Biden lacks the authority to unilaterally cancel student debt. House Speaker Nancy Pelosi (D., Calif.) concurred with that assessment. &#8220;People think that the president of the United States has the power for debt forgiveness. He does not,&#8221; she told reporters in July 2021. &#8220;He can postpone. He can delay. But he does not have that power. That has to be an act of Congress.&#8221;<\/p>\n<p>Furman noted these concerns while adding that even if Biden&#8217;s plan was &#8220;technically legal&#8221; it would not be a &#8220;reasonable&#8221; use of executive authority. &#8220;I don&#8217;t like this amount of unilateral Presidential power,&#8221; he wrote.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Biden Administration Jason Furman slams White House proposal: &#8216;Pouring roughly half trillion dollars of gasoline on the inflationary fire that is already burning is reckless.&#8217;  Andrew Stiles<\/p>\n","protected":false},"author":97,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1622805","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\/1622805","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\/97"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1622805"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1622805\/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=1622805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1622805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1622805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}