Biden says “we can afford” to waive student debt relief after GOP lawsuit

President Joe Biden touted his historic student loan forgiveness executive order, even though he had significantly scaled it back just two days earlier — and blasted Republicans who opposed it.

Biden called the cancellations a “game changer” before slamming members of the GOP during remarks at the Congressional Black Caucus Foundation’s Phoenix Awards.

“We can afford to forgive $10,000 in student debt and $20,000 if you had a Pell Grant for Americans earning less than 125 grand,” Biden said.

“I don’t want to hear a word from members of Congress, as you can see, whose families have forgiven tens of thousands of dollars and multi-million dollars in pandemic relief loans, the same ones who are criticizing them. Give me a break. Come on.”

Biden gives a speech
Biden also commented on Republicans for trying to block other legislation the government supports.
AFP via Getty Images

On Thursday, the White House announced it would not forgive borrowers whose student loans are owned by private companies as it faces multiple court cases being fought by Republican attorneys across the country.

House Republicans could appeal an order overturning pardon next year if they win enough seats in Congress.

Bident also targeted Republicans for trying to block other legislation, including the Inflation Reduction Act and the George Floyd Policing Act, but specifically noted their efforts to keep price caps off prescription drugs.

“The Republicans blocked it,” Biden said. “Imagine being a parent of a child with type 1 diabetes and knowing that if you don’t get this drug, if they don’t get this insulin, if they don’t get it on time, their health can be permanently damaged or she could die… It’s wrong!”

Student loan borrowers hold a rally outside the White House to celebrate President Biden canceling student debt
Student loan borrowers hold a rally outside the White House to celebrate President Biden canceling student debt on August 25, 2022.
Getty Images for We the 45m

With the passage of the Inflation Reduction Act, Democrats allowed Medicare to negotiate drug prices for prescription drugs like insulin, capped at $35 for deductibles.

Biden also trumpeted his support for the child tax credit and increased funding for minority-owned small businesses.

“We’re going to do all of that while reducing the deficit,” Biden said. “I’m so fed up with Republicans saying we’re the big funders, give me a break. Give me a break.”

https://nypost.com/2022/10/02/biden-says-we-can-afford-student-debt-forgiveness-after-gop-lawsuit/ Biden says “we can afford” to waive student debt relief after GOP lawsuit

JACLYN DIAZ

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