White House Principal Deputy Press Secretary Karine Jean-Pierre holds a press briefing on Thursday, July 29, 2021, in the James S. Brady Press Briefing Room of the White House. (Official White House Photo by Cameron Smith) [Photo Credit: The White House, Public domain, via Wikimedia Commons]
At least one person from Fox News is standing up to the Biden administration.
Fox News White House correspondent Peter Doocy sparred with White House Press Secretary Karine Jean-Pierre about how exactly is the government going to pay for Biden’s student loan forgiveness plan, The Daily Caller reports.
“And you might spend $300 to $900 billion extra, so you can do that and not increase the deficit?” Doocy asked.
“Here’s the thing. What we are trying to do here, we are doing this responsibly. You heard directly from the president. This is something that is going to be important for middle class Americans when you think about 90% of the folks who are going to actually benefit from this are making $75,000 or less. And you think about what Republicans did just a couple of years ago, they signed off on a $2 trillion tax cut for the wealthy and did not provide any way to pay for that.”
“Who is paying for this? But you’re talking a lot about how much it might cost or might not cost,” Doocy asked. “Who is paying for this?”
“I just laid out for you, no, Peter, I just laid out for you how we’re seeing this process and why this matters,” she said. “I just laid out because of the work that we have done in the economy, because of the American Rescue Plan, because of the Inflation Reduction Act, and because of all of this work this president has done, has actually brought down our deficit by $1.7 trillion, unlike what Republicans did when they added to our deficit [by] $2 trillion and did not care at all, or thought about how this was going to be paid for.”
Economists have slammed the administration for the plan, saying it will increase inflation during a time when inflation is out of control.
Top Obama economist Jason Furman is one of the critics:
Republicans have criticized the plan as a gift to the wealthy. Estimates have said that the plan could increase inflation by 10-50 basis points, according to The Committee for Responsible Federal Budget.