Joe Biden’s giveaway may have just backfired big league on him.
The gamble here was that older Americans would accept him trying to help out this entitled generation while energizing young voters to head to the polls in November.
As it turns out, only about 28 percent of those benefitting from the freebie are potential voters.
Reports are already rolling in overall costs.
The initial estimates were about $300 billion, but the $20,000 for Pell Grant recipients adds about another $200 billion to the price tag of this.
National Taxpayers Union has also published a report putting the cost of this little “freebie” at over $2,000 per taxpayer.
I am not sure how many families that are struggling right now will appreciate that a mortgage payment just went out the door so Biden could make these entitled brats happy.
Not only that, but the backlash has been severe.
Fox News Bret Baier even warned of how risky of a play this was for Biden…
Since then, numerous Democrats in battleground states and districts have come out against the plan.
Even the Washington Post wrote a scathing editorial on the giveaway, calling it an “expensive, regressive mistake.”
Jason Furman, an economic adviser during the Obama administration, even ripped it, stating, “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.
“There are a number of other highly problematic impacts including encouraging higher tuition in the future, encouraging more borrowing, creating expectations of future debt forgiveness, and more.
“Most importantly, everyone else will pay for this either in the form of higher inflation or in higher taxes or lower benefits in the future.”
That is not quite the review Biden hoped for when he signed off on this disaster.
Source: Fox News