Porter says student loan handout doesn’t go far enough

Katie Porter doesn’t just support Joe Biden’s student loan handout…she doesn’t think it goes far enough. 

Porter believes “canceling $50,000 of student loan deft is critical for our economic recovery.”

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: “Katie Porter robbing middle-class taxpayers and making inflation worse to give a bailout to her fellow Harvard and Yale University graduates is an indefensible policy.” – NRCC Spokeswoman Torunn Sinclair