{"id":1642496,"date":"2022-09-16T08:34:36","date_gmt":"2022-09-16T12:34:36","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1642496"},"modified":"2022-09-16T08:34:46","modified_gmt":"2022-09-16T12:34:46","slug":"economist-calls-biden-administration-student-debt-relief-a-redistribution-scheme","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/economist-calls-biden-administration-student-debt-relief-a-redistribution-scheme\/","title":{"rendered":"Economist Calls Biden Administration Student Debt Relief a \u2018Redistribution Scheme\u2019"},"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\">20<\/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%2Feconomist-calls-biden-administration-student-debt-relief-a-redistribution-scheme%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=1642496&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>With U.S. prices higher than expected in all areas including food, shelter, and gas, the Biden administration\u2019s student debt relief plan is really a \u201credistribution scheme\u201d that will further fuel <a href=\"https:\/\/www.theepochtimes.com\/us-inflation-comes-in-worse-than-expected-as-food-shelter-costs-surge_4726956.html\">inflation<\/a>, according to Vance Ginn, economist and founder of Ginn Economic Consulting.<\/p>\n<p>The plan is \u201cwhat I\u2019ve really been calling a redistribution scheme from those who didn\u2019t go to college and don\u2019t have student loans to everyone who has student loans. Only about 33 percent of Americans have graduated with a bachelor\u2019s degree,\u201d Ginn said during a Sept. 14 interview with the NTD TV <a href=\"https:\/\/www.ntd.com\/economist-save-now-for-future-price-increases-amid-blanket-inflation_840614.html\">News Today program<\/a>. \u00a0\u201cThis is a huge shift in the amount of money that people are paying and \u2026 it also fuels more <a href=\"https:\/\/www.theepochtimes.com\/t-inflation\">inflation<\/a>.\u201d<\/p>\n<p>The Biden-Harris administration, in order to advance their \u201cequity\u201d agenda, released a plan which will cancel $10,000 of debt for people earning less than $125,000, cap monthly payments at five percent of a borrower\u2019s monthly earnings, forgive loan amounts of $12,000 or less after 10 years of payments, and mandate that the federal government cover the unpaid interest for those in the low-income bracket.<\/p>\n<p>President Joe Biden praised the debt relief plan, which he said was designed to help those that don\u2019t have \u201cfamily wealth,\u201d including black and Hispanic students.<\/p>\n<p>\u201cThey don\u2019t own their homes to borrow against to be able to pay for college,\u201d Biden said at a press <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2022\/08\/25\/remarks-by-president-biden-announcing-student-loan-debt-relief-plan\/\">briefing at the White House on Aug. 25.<\/a><\/p>\n<p>When asked if this action was fair to those students who had paid off their <a href=\"https:\/\/www.theepochtimes.com\/search\/?q=student+load+debt&amp;t=ai\">student loans,<\/a> Biden shifted the topic to billionaires.<\/p>\n<p>\u201cIs it fair to people who in fact do not own a multibillion-dollar business if they see one of these guys give them all a tax break? Is that fair? What do you think?\u201d Biden asked.<\/p>\n<p>And while Democrats celebrated the \u201c<a href=\"https:\/\/www.theepochtimes.com\/t-inflation-reduction-act\">Inflation<\/p>\n<p><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>With U.S. prices higher than expected in all areas including food, shelter, and gas, the Biden administration\u2019s student debt relief plan is really a \u201credistribution scheme\u201d that will further fuel inflation, according to Vance Ginn, economist and founder of Ginn Economic Consulting. The plan is \u201cwhat I\u2019ve really been calling a redistribution scheme from those [\u2026]<\/p>\n","protected":false},"author":1358,"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-1642496","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\/1642496","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\/1358"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1642496"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1642496\/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=1642496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1642496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1642496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}