As Fed tries to fight inflation, Washington ‘making it worse’ with student loan handout: Maya MacGuineas
Committee for a Responsible Federal Budget President Maya MacGuineas argues Biden’s student loan handouts ‘undo all that work’ of the Inflation Reduction Act.
After being vocal about the bipartisan group’s support of President Biden’s 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 student loan handouts will be $500 billion.
"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."
BIDEN'S STUDENT LOAN HANDOUT IS ‘UNJUST,’ MAKES THOSE WHO PAID OFF THEIR LOANS LOOK LIKE ‘FOOLS’: BRENBERG