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An analyst thinks Biden's student loan plan "backfires."

Credit: Instagram/Joe Biden

An economic researcher told Fox News on Monday that President Biden's plan to transfer student loan debt to Americans is "backfiring."

Credit: Instagram/Joe Biden

White House officials called the gift a "pardon," but economists like Moore say the debt can't just evaporate due to arithmetic.

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When asked about the claims made by the Biden administration regarding the reduction of the deficit and debt, he responded by saying,

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"When you add up all of Biden's spending bills, it's almost funny that he speaks about reducing the deficit and debt. $4 trillion if they spend $500 billion more each student."

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Moore said Biden's plan to eliminate student loans for middle- and upper-middle-class college students without helping artisans didn't pay off politically.

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Moore was referring to the fact that Biden's plan would benefit students from middle-class and upper-middle-class families.

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He cited a Chicago economist's research. In the study, the researcher estimated the overall worth of Medicare, Medicaid, food stamps, student loan, and housing subsidies.

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The researcher then reported to sources that this sum was greater than the median annual income of all residents of the United States.

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