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Former Trump economist predicts Biden's student loan forgiveness plan will backfire during midterms

Former Trump economist discusses how Biden's student loan forgiveness plan will hurt the economy and backfire on Democrats for the midterms

Published: August 25, 2022 7:09pm

Updated: August 25, 2022 8:21pm

President Biden's student loan forgiveness plan will backfire on Democrats in the upcoming midterm elections, said Steve Moore, former economic advisor to Donald Trump.

"Politics aside of it, I think this is going to backfire against President Biden," Moore said on Just the News, Not Noise. "You're already seeing the Democrats in some of these tough battleground districts and Senate races back off on this, because they realize Americans think it's completely unfair."

Moore also pointed out that this student loan forgiveness plan was unfair to people who went through the military to pay for college. 

"The other group of people really angry are people who went through the GI program, and went through our military and protected us and spent three or four or five years in the military, and they get education free, because that's the bargain," Moore explained. "And now they're gonna give free education to people who never served the country, did nothing to deserve it."

Moore stated that President Biden does not have legal authority to cancel student debt.

"The President does not have the authority to do this," Moore said. "I think that Supreme Court is going to rule against Biden. He is using COVID emergency powers to allow people not to repay their loans."

The discussion later diverted to what politicians should be focusing on in the upcoming midterm elections. 

"Obviously the inflation that's killing families," Moore said. "It's killing our incomes. The average family has lost $3,000 to $4,000 in one year."

 "We're gonna spend decades undoing the damage that Joe Biden has done to our country," Moore concluded

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