The House Judiciary GOP’s Twitter account shared a screenshot of a message it received from Facebook, which said its post blasting Biden’s bailout violated its “community standards.” The House Republicans’ Facebook post read, “If you take out a loan, you pay it back. Period.”
“Big Tech is at it again,” the House Judiciary GOP said.
WOW: @facebook says our post about paying back loans violates their “community standards.”
Big Tech’s at it again. pic.twitter.com/Oo5lESfxwU
— House Judiciary GOP (@JudiciaryGOP) August 25, 2022
Biden unveiled his plan to forgive more than $500 billion in student loan debt this week, announcing that borrowers making under $120,000 per year are eligible for a $10,000 student loan debt cancellation. Families making under $240,000 are eligible for $20,000.
Biden claimed that experts “agree that these actions taken together will provide real benefits for families without meaningful effect on inflation,” but even Democrat experts have admitted that’s not true. Former Obama economist Jason Furman, who chaired the former president’s Council of Economic Advisers, said this week that Biden’s plan will undoubtedly make inflation worse.
“Pouring roughly half trillion dollars of gasoline on the inflationary fire that is already burning is reckless,” Furman tweeted. “Doing it while going well beyond one campaign promise ($10K of student loan relief) and breaking another (all proposals paid for) is even worse.”
Most importantly, everyone else will pay for this either in the form of higher inflation or in higher taxes or lower benefits in the future. I did a thread on this last night but given the new announcement you need to double everything in it. https://t.co/CJ7aPYyAw3
— Jason Furman (@jasonfurman) August 24, 2022