On the recordNovember 17, 2022
The Congressional Budget Office has confirmed what most Tennesseans already knew. President Biden's plan to give a handout to millions of college-educated Americans will be paid for with even more deficit spending than anticipated, around $400 billion in deficit spending to be exact. This is just as shocking: The President thinks it is acceptable and legal to spend this kind of money without congressional approval. But it is neither. We hear $10,000 per borrower thrown around a lot, but the CBO says 24 million people would receive $20,000 in debt forgiveness under the plan. That is basically a 2022 Hyundai Elantra or a Kia Soul or a brand-new Nissan Sentra. I ask my Democrat colleagues: How are you okay with giving away the equivalent of a new car to 24 million people and asking those without student debt to foot the bill, asking Tennessee plumbers to foot the bill for Harvard-educated lawyers, asking America's blue-collar workers to give a subsidy to some of the best-educated people and best-paid people in this country? This administration must reverse course on this wrong-headed, regressive policy. ____________________
