gland to the economy. the white house saying that the decision to also put an end of freeze on student loan repayments at the end of this year should counteract that to some degree saying it might offset it entirely. some democratic economists disagreeing. but it is something to be watched going forward. one thing is clear, the white house officials who have gone through this believe it could affect up to 43 million borrower, more than 20 million of those could have their debt canceled all together. no question it is a significant problem in the country. whether or not this one time solution can provide any kind of major relief to that system, still an open question. phil mattingly, cnn, the white house. president biden said that he would have preferred the student debt issue were handled by congress rather than executive order, but it is unlikely enough republicans would back it. here is what mitch mcconnell had to say. i think it is a bad idea. an awful lot of americans choose
not only are they not paying tucker, they re actually being rewarded by this policy and that s what makes it such a huge mistake. and i got to say, tucker, there is a political dimension to this. of course, i m running against tim ryan , democrat from ohio who s been on every side flip flop on every side of the student debt issue. but you think about this two months before the election, joe biden has given a massive windfall to democratic party donors. it s one of the reasons why i d encourage people to help us fight back at j.d. anscombe. but this has very direct implications for the middle class in this country. tucker, you know as well as anybody that if you look behind a lot of our bad policies, whether it s the student bailouts, the globalization moving stuff to china, whatever you want to say, it s very often a massive transfer of wealth from middle class, hard working people to the upper class in this country. that s exactly what this is a massive bailout for people who ve made
lifted at the end of may. betsy, what do you make of where these vulnerable democrats are right now like mage hassan and the strategy they re taking and the line they re trying to walk? it just highlights the extent to which president biden s poll numbers a rliabili for the democrats in tough races. hassan is not the most vulnerable democrat running this cycle. i haven t seen anything super credible arguing she s really on thin ice. but the fact that show is distancing herself from the biden administration, trying to needle them a little bit, it kind of tells you what you need to know about the president s political clout. do they have to get something done in order not to have a complete washout? one of the things he s trying to signal is his warmth around the student debt issue. the washington post just came out with a poll and found that young people, independent voters, are very interested in voting for him howeve his favorabilities are under 40%. we mht have a surprise the
sales pitch, donald trump had his sales pitch, it was drain the swamp, biden s sales pitch was he was going to be competent and bring peace, and every one of these issues, just like sarah said and what you laid out on gas prices and inflation you know, flee inflation alone already this year is $6,000 morr family. the piece on this student debt issue which is so insane is the problem with inflation, the obama economists warned biden is that when you pump too much money into the system, you are going to create inflation, so now what do we have? $1.9 trillion $1.6 trillion, excuse me, of student debt is going to be wiped out. 90% of that $1.6 trillion as federal government is federal government money that needs to be repaid, so there s going to be two problems. number one, who is going to pay for it? we know it is going to be highe. number two, you take $1.6 trillion and you force it right back into the pockets of white? the majority of those people are
pitch. donald trump had his sales pitch. it wasashi drains the swamp bida sales pitch was that he wase going to be competent and bring peace. and then everyry one of o these issues, just like sarah said, and what you laidga out on gas prices and inflation, you know, inflation alone already this year, six thousand dollars more per family. but the piece on the student debt issue, which is so insaneo is that the problem with inflation as the obama economist warned biden, is that when you pump too muchto money into the system, you re going to create inflation. so now what do we have one point nine trillion dollars, one point six trillion excuse me dollars of student debt is going to be wiped out. well, 90% that one pointli six trillion is federalon government. it s federalt government money that needs to be repaid. soso there s going to be two problems. no one who s going to pay for it, we all know it s k going too be higher taxes but no to when you take one point six trillion dollars and