Biden’s Student Loan Cancellation to ‘Make Inflation Worse’: Stephen Moore

Stephen Moore, distinguished visiting fellow for Project for Economic Growth at The Heritage Foundation, has a conversation with Acting White House Chief of Staff Mick Mulvaney (not pictured) on stage at the Conservative Political Action Conference 2020 (CPAC) hosted by the American Conservative Union in National Harbor, Md., on Feb. 28, 2020. Samuel Corum/Getty Images

President Joe Biden recently indicated that he would seriously consider student loan forgiveness. But according to former White House economic adviser Stephen Moore, this gesture is not only bad politics but “worse economics” and would make the record-high inflation even worse.

“It’s not forgiveness … It’s shifting the burden from the people who borrowed the money to you and I and all the taxpayers,” Moore told NTD Business on April 28.