{"id":1626418,"date":"2022-08-30T07:34:16","date_gmt":"2022-08-30T11:34:16","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1626418"},"modified":"2022-08-30T07:34:40","modified_gmt":"2022-08-30T11:34:40","slug":"black-swan-author-says-colleges-not-taxpayers-should-pay-for-bidens-student-loan-wipeout","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/black-swan-author-says-colleges-not-taxpayers-should-pay-for-bidens-student-loan-wipeout\/","title":{"rendered":"\u2018Black Swan\u2019 Author Says Colleges\u2014Not Taxpayers\u2014Should Pay for Biden\u2019s Student Loan Wipeout"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/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%2Fblack-swan-author-says-colleges-not-taxpayers-should-pay-for-bidens-student-loan-wipeout%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=1626418&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--><p>Economist Nassim Nicholas Taleb, author of the bestselling book \u201cThe Black Swan\u201d that deals with the extreme impact of rare events, has criticized President <a href=\"https:\/\/www.theepochtimes.com\/t-joe-biden\">Joe Biden<\/a>\u2019s student loan debt forgiveness plan.<\/p>\n<p>Taleb, whose book argues that systems should be designed to be \u201cantifragile\u201d and build resilience when subjected to stress from adverse events, said in a <a href=\"https:\/\/twitter.com\/nntaleb\/status\/1564207812699365376\">post on Twitter<\/a> that the cost of Biden\u2019s \u201cdebt jubilee should be borne by universities, not taxpayers.\u201d<\/p>\n<p>The White House says Biden\u2019s <a href=\"https:\/\/www.theepochtimes.com\/t-student-loan-forgiveness\">student loan forgiveness<\/a> scheme is estimated to cost $24 billion per year, or $240 billion over a 10-year period. Projections by the\u00a0<a href=\"https:\/\/budgetmodel.wharton.upenn.edu\/issues\/2022\/8\/23\/forgiving-student-loans\">Penn Wharton Budget Model<\/a> and\u00a0the <a href=\"https:\/\/www.crfb.org\/blogs\/new-student-debt-changes-will-cost-half-trillion-dollars\">Committee for a Responsible Federal Budget<\/a> put the figure at between $330 billion and $500 billion over a decade, respectively.<\/p>\n<p>Under Biden\u2019s sweeping forgiveness plan, taxpayers will absorb up to $10,000 in outstanding student debt for individual borrowers earning less than $125,000 per year or $250,000 for married joint filers.<\/p>\n<p>Republicans have panned the debt wipeout as unfair to people who sacrificed to pay off their student loans or never racked them up in the first place but now have to foot the bill for other people\u2019s debts.<\/p>\n<p> <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/GettyImages-1412722733-1200x800-1.jpg\"><\/a> Senate Minority Leader Mitch McConnell (R-Ky.) walks back to his office in the U.S. Capitol Building in Washington on Aug. 3, 2022. (Anna Moneymaker\/Getty Images) <\/p>\n<p>\u201cPresident Biden\u2019s student loan socialism is a slap in the face to every family who sacrificed to save for college, every graduate who paid their debt, and every American who chose a certain career path or volunteered to serve in our Armed Forces in order to avoid taking on debt,\u201d Senate Minority Leader Mitch McConnell (R-Ky.) <a href=\"https:\/\/www.republicanleader.senate.gov\/newsroom\/press-releases\/mcconnell-student-loan-socialism-a-slap-in-the-face-to-working-families-\">said in a statement<\/a>.<\/p>\n<p>\u201cThis policy is astonishingly unfair,\u201d McConnell added.<\/p>\n<p>Taleb did not weigh in on the fairness of the forgiveness scheme itself but aimed his<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Economist Nassim Nicholas Taleb, author of the bestselling book \u201cThe Black Swan\u201d that deals with the extreme impact of rare events, has criticized President Joe Biden\u2019s student loan debt forgiveness plan. Taleb, whose book argues that systems should be designed to be \u201cantifragile\u201d and build resilience when subjected to stress from adverse events, said in [\u2026]<\/p>\n","protected":false},"author":118,"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-1626418","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\/1626418","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\/118"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1626418"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1626418\/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=1626418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1626418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1626418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}