Cuellar and Gonzalez back student loan handout

Henry Cuellar and Vicente Gonzalez are backing Joe Biden’s student loan debt cancelation handout, arguing “it’s not a handout” and a “step in the right direction.”

Prominent liberal economists disagree.  

Furman:“Pouring roughly half trillion dollars of gasoline on the inflationary fire that is already burning is reckless. Doing it while going well beyond one campaign promise ($10K of student loan relief) and breaking another (all proposals paid for) is even worse.” 

Summers:“Every dollar spent on student loan relief is a dollar that could have gone to support those who don’t get the opportunity to go to college. … Student loan debt relief is spending that raises demand and increases inflation. … It will also tend to be inflationary by raising tuitions.” 

NRCC COMMENT: “Henry Cuellar and Vicente Gonzalez robbing middle-class taxpayers and making inflation worse to give a bailout to ivy league graduates is an indefensible policy.” – NRCC Spokeswoman Torunn Sinclair