$15,000 of student loans. bill: i would have loved to have been given 10 grand. it could change your life but i signed a contract. a contract. i had to pay it. that was the bill. dana: i was so afraid i couldn t make my next payment that i made two payments at night. i was a waitress. president biden has had to make this decision over and over because he has hemmed and hawed about it. right now today he is expected to cancel up to $10,000 in student debt for americans making less than $125,000 per year. he will also reportedly extend the pause on loan repayments until after the mid-terms even though apparently we have the best job market in history. bill: taxpayers will foot the bill for all of this. it will cost anywhere between $300 billion at the low end and upwards of $980 billion at the high-end depending the decision he makes. dana: the price tag is raising alarm bells on both sides of the aisle. critics are calling it a hand-out that will do more harm than good
budget committee it could cost $100 billion. if the cancellation is limited to people making less than 125 grand a year make it 344 billion and of course if the white house bends to the demands of some democrats to wipe out $50,000 per bow orer. that s what the naacp wants. it cannot become the latest example of a policy that has left black people and black women behind. not how you treat black voters who provided 90% of their vote to save democracy in 2020. the committee for responsible budge it says it wouldn t just cost our economy but set black people behind. we re probably going to do more to increase inflation from debt cancellation than any
to be reciprocal because in the end, unfair trade undermines us all. in 2017 the u.s. had about a $344 billion trade deficit with china. the president during the 2016 campaign vilified china but avoided a trade war with china. as for consumers, look, these policies can be good for those who are looking to buy in the country. those open policies. but it can hurt manufacturing and that s the balance the administration is trying to strike. bill: rich edson thank you so much. sandra: as we ve been mentioning the president is on his way back now from davos after pushing his america first strategy. so how was his message received? we ll take a look.
wonder about, we talking about def circuits why don t we hear more about how to grow, solutions for i totally agree. we think about history, it is not so much the size of the debt but how fast we are growing. in the clinton era, we grew out of debt. what can we do to get out of the 2% economy? don t increase taxes on small to medium-sized business people. everying we do in washington i agree totally should be targeted toward economic growth. here are just a couple of numbers. even with the meager economic growth we have had from 2009 to 2012, revenue to the federal government has increased by $344 billion per year. if we just return to arm noal economy like 2007, the government collected 18.5% of gdp in revenue, a little bit more than the 50-year average that would add another $435 billion billion per year. mike, you were talking about repatriating those corporate earnings, $42 billion. the fiscal cliff deal will raise about $41 billion. that s tenth of what we can get
to have you here. thank you so much. there is a startling new report in the journal science that claims the polar ice sheets are melting at record rates. up to five times faster than in the 90s. look at this video. it s fascinating. time lapse video from greenland. the report says that country and antarctica are losing 344 billion metric tons of ice a year equal to the weight of more than a million empire state buildings. scientists say these findings are important because the melting is causing sea levels to rise, and that makes coastal storms, say superstorm sandy, worse because of the massive flooding that s caused.