White House tries to explain how Biden’s student loan plan will be paid for

Christian Datoc, White House Correspondent for The Washington Examiner

White House press secretary Karine Jean-Pierre argued to reporters Thursday that the administration had “done the work” to ensure that President Joe Biden’s student loan debt forgiveness is fiscally responsible and “fully paid for.”

In one exchange with Michael Shear of the New York Times, Jean-Pierre reiterated that the White House cannot yet predict the total cost of the action, and she did not highlight any specific “mechanisms” for offsetting the cost. She did argue, however, that the social benefits of relieving debt for Americans are worth the fiscal hit.