Biden’s Student-Debt-Forgiveness Plan May Cost Up to $1 Trillion, Challenging Deficit Goals - WSJ

could cost as much as $1 trillion, according to budget analysts, challenging the administration’s efforts to scale down the federal deficit.

First, the price tag keeps climbing and climbing, putting the program at risk. Doubtful the Constitution let’s the President spend $1T without Congressional authorization.

Second, this Washington single-minded focus on “deficit reduction” is stupid. They’re talking about reducing the amount of borrowing, i.e. overspending, each year. No discussion on reducing the actual debt! Losing a game by fewer points is not an accomplishment. You still lost!

Bharat Ramamurti, deputy director of the White House National Economic Council, told reporters last month that the administration would use a portion of the projected decline in the federal deficit this fiscal year, which ends in September, to provide the debt relief and that the White House considers the forgiveness fully paid for.

Well, I thought I was going to put $1,000 on my credit card at Target, but I removed some things from my cart and only charged $300. Now I can go to Best Buy, and charge $700 worth of items since those are now fully paid for.