Committee for a Responsible Federal Budget President Maya MacGuineas walks back support of President Biden's fiscal policy after student loan handouts.
Committee for a Responsible Federal Budget President Maya MacGuineas argues Biden’s student loan handouts ‘undo all that work’ of the Inflation Reduction Act., the president of the Committee for a Responsible Federal Budget is walking back her stance on Biden’s economy after his announcement of student loan debt handouts.
"It has barely been a week. The ink is not dry on that legislation, and the White House has single-handedly undermined all of those savings, all of the positivity that one would see from a fiscally responsible point of view, with this new bill, which is most certainly not fiscally responsible. It's reckless," President Maya MacGuineas told FOX Business’ Maria Bartiromo Friday.
According to the budget watchdog, who joined "Mornings with Maria," the Biden White House has decided to add money to the economy at the "wrong time" with the "wrong policy." MacGuineas’ committee has reported the total taxpayer cost of"It's cynical and depressing," MacGuineas said. "We call it like we see it, we supported that bill a few weeks ago, and now are really kind of shocked that the White House would decide to undo all that work.
According to the Committee for a Responsible Federal Budget President Maya MacGuineas, President Biden's student loan debt handouts are"reckless,""cynical and depressing."gives Americans the future expectation that more debt will get canceled, the economic expert argued. "So you're going to have universities and colleges saying, ‘We can hike up tuition because people are going to come here believing they're not going to have to pay the loans that they agree to pay,’ and that there's going to be this ongoing cancelation situation," MacGuineas expanded further."It's very bad for the moment we're in with the economy," she said. "Here's the Fed trying to fight inflation and Washington's making it worse.
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