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[quote=Anonymous][quote=Anonymous]In addition, this is the costliest EO ever.

[twitter]https://twitter.com/AP/status/1574533040717680660[/twitter]

President Joe Biden’s plan for student debt cancellation will cost the federal government about [b]$400 billion over the next 30 years, according to new estimates from the Congressional Budget Office.[/b]

The figures were released Monday in response to a request from Republican lawmakers who oppose Biden’s plan in large part because of its costs. They were quick to cite the estimates as evidence that the plan will “bury” taxpayers, passing along the costs to huge numbers of Americans who never went to college.

The Biden administration previously estimated the plan would cost about $24 billion a year over the next 10 years — about $240 billion for the decade — while other estimates put the total cost at $500 billion or more over the decade.

The office separately estimated that Biden’s latest extension of a student loan pause will cost an additional $20 billion. Monthly payments on federal student loans have been frozen since the first weeks of the pandemic. Biden in August continued the pause through the end of the year, calling that the final extension.

The $400 billion total notably does not include a separate loan payment plan that Biden proposed to help lower-income borrowers in the future. The new plan would be similar to existing plans that limit monthly bills based on a borrower’s income, but with more generous terms.[/quote]

So $13 billion a year? That's a lot less than the pentagon wastes on projects they know will never go anywhere [/quote]

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