Fox News host Martha MacCallum is not letting the Biden administration pull the wool over her eyes.
The Fox host recently went toe-to-toe with White House economic adviser Jared Bernstein over the Biden administration’s plans to cancel student debt, The Daily Caller reports.
Bernstein argued that the reduction in the national debt coupled with the increase of income by the federal government will pay for the loan cancelation.
The Caller reported:
“Okay, well, hold on, and let me suggest how you’re doing so,” he interjected. “The question on the table is is it accurate to say that we are reducing the deficit more than the cost of student loan forgiveness and the answer is unquestionably yes, okay? I hope that’s pretty straight forward.”
“Well you say people can look at money by numbers in a lot of different ways and the Penn Wharton model says it’s gonna cost $1 trillion. So it’s simply not true.”
“Hold on, hold on, I’m not going to let you do the thing where you recast what I said totally differently,” he said. “What I’m saying is very straightforward. We are reducing the budget deficit both in this year and last year far more, multiples more than the cost of student loan debt forgiveness. Very simple, very straightforward fact, so I just want to be sure that’s on the table.”
MacCallum then turned to the legality of the policy, in which Bernstein argued the post-9/11 law, the “HEROES Act,” allows for them to enforce the loan forgiveness. The law was first proposed in 2003 to grant debt relief for military members serving the U.S. in the wake of the 9/11 terrorist attacks. The anchor argued there may be legal challenges to the administration enacting the policy under the post-9/11 law.
The Biden administration is trying to roll this out as a boom for the economy and something that is fully funded.