On Wednesday, President Joe Biden made a rather stunning announcement: He was going to take action to eliminate an enormous amount of student debt in the United States.
The action makes good on a promise that he made during his campaign, but some on the far left don’t think that Biden’s gone far enough…despite the hefty price tag.
And now that the White House is staring down the need for $300 billion to make the new program function, administration officials seem rather stumped about where that money is going to come from.
The White House on Wednesday declined to say who will be on the hook for a massive $300 billion student loan forgiveness plan announced by President Biden moments earlier.
During a news briefing, White House Press Secretary Karine Jean-Pierre outlined the benefits of the plan but skirted questions about who will pay for it when asked by Fox News correspondent Peter Doocy.Trending:
“When you forgive debt, you’re not just disappearing debt, so who is paying for this?” Doocy asked.
Then came a masterclass in dodging the question.
Jean-Pierre replied that once the pause on student loan payments is lifted at the end of 2022, the funds will “offset a lot of what we’re doing as well.”
“When you think about the $4 billion that’s going to go back into, as revenue, back into this process as folks paying their college tuition, that matters as well,” she said. “We’re doing this in a smart way. We’re doing this in a way that’s going to be effective.”
Doocy wasn’t done there, but Jean-Pierre was.
“But somebody’s paying for it. Who?” he asked but received no direct answer.
Doocy has been a thorn in the side of the White House press team for some time, having gotten the cold shoulder on numerous previous occasions.