#shorts On 7/17/2023, a reporter asked White House Press Secretary Karine Jean-Pierre, “So the Penn Wharton Budget Model recalculated costs based on the new rules for the student loan forgiveness. The model now says that those rules will cost an additional $475 billion over the next 10 years. I’m just wondering when the President will — will unveil a plan that actually reduces spending.

KJP: So, look, just a couple of things because — as it relates to — and you’re talking about the student loan?
Reporter: The student loan forgiv- — the new rules that —
KJP: Yeah. Yeah.
Reporter: Yeah, from the Department of Ed.

KJP: So, look, the Department of Education, they estimated this particular piece to cost about $156 billion over the next decade. And the reason why we were able to do this, the reason why we believe this is being done in a responsible way … Let’s not forget, the first two years, the deficit has gone down by more than $1 trillion. And that is the def- — and the deficit reduction, because of Bidenomics and because of the work that he’s been doing.

Reporter: But that’s COVID spending coming off. The deficit is actually increasing —
KJP: Yeah, but it’s still —
Reporter: — according to the CBO.
KJP: Well, look, what — the — what we have seen is it’s gone down over a trillion dollars, right? And he has done this in a responsible way. And so he has done reduction. As we look at the deficit, it has come down and done so more than any other president has been able to do in their four years — first four years of the administration …

other clips of this published longer video is here: https://youtu.be/Kh0bv0ooy20
New student loans repayment will cost $475B, $45B more than the plan that Supreme Court struck down