Alfredo Ortiz: Biden's student loan forgiveness plan will really hurt the economy

Alfredo Ortiz, President and CEO of Job Creators Network, says that Biden's student loan forgiveness plan will negatively impact the economy. 

"We know that this is going to hurt the economy," Ortiz said on "Just the News, Not Noise." "Up to $1 trillion sounds like the latest estimates from the Wharton School of Business model."

"It's going to lead to higher deficits," Ortiz continued. "We know it's going to lead to higher taxes, because somebody's got to actually pay the bill. And it's going to be inflationary." 

Ortiz also criticized Biden's student loan forgiveness plan for not addressing the underlying issue of rising tuition costs for colleges.

"Since the Obama administration started pushing higher education versus vocational schools, they've actually increased at double the rate of inflation," Ortiz stated. 

Ortiz also pointed out the lack of fairness in the plan. 

"It's not fair to the millions and 10s of millions of people who decided not to go to college because they might not have wanted that path, or they just didn't want to take on the tens of thousands. maybe even hundreds of thousands of dollars of loans, because they just didn't think it was something that they could pay off," Ortiz concluded.