President Joe Biden is wiping out student debt for those who owe $12,000 and have been paying on it for at least 10 years -- and WWL host Newell Normand thinks it's a terrible idea.
What about small business loans? Are those going to be wiped out too? That's what Normand wanted to know.
"If this doesn't smack of trying to gaining political leverage with your tax dollars, I don't know what does," Normand said.
He added that Biden's letter to the covered borrowers says, "Congratulations, all or a portion of your student loan will be forgiven ... under my administration's SAVE plan. I hope this relief gives you a little more breathing room." And that's a political message delivered in time for the 2024 election.
Biden has wiped out $138 billion overall with 'exotic schemes,' Normand said. And he believes it's about bribing voters to vote for the Biden-Harris ticket. And tbe bribe is coming from your tax dollars. "It's amazing how creative this president can be ... when it's something that he really wants to do," Normand said.
