‘Party Of The Elites’: Charles Payne Rips Biden Admin On Student Loan Forgiveness, Gas Prices

[Screenshot/Fox News]

Nicole Silverio Media Reporter
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Fox Business host Charles Payne tore into President Joe Biden’s approach to forgiving student loans and combating gas prices Monday.

Payne said the Biden administration is benefitting “the most fortunate” in the U.S. through his consideration to extend a pause on student loans. The president is expected to make a decision on the matter this upcoming week.

“These are the most fortunate people. These are people who are on the path to the American dream,” Payne said. “Why the hell does Biden keep—they got child tax credits last year. They always promoted it. They bring a little black kid up and say ‘look what we’re doing for child poverty. It’s up to 300,000. They get solar panels on their roofs, they get EVs [electric vehicles]. Talk about being a sucker.”


Payne said with a record amount of Americans working two full time jobs and rising costs of utilities, forgiving student loans should not be a top priority. Data conducted by the Committee for a Responsible Federal Budget found that student loan forgiveness would add $250 billion to the federal deficit and likely be inflationary. (RELATED: ‘Stop Pimping Black People’: Charles Payne Rips Progressives’ Push For Student Loan Cancellation) 

Fox News host Sandra Smith then shifted focus to gas prices, which the White House has recently taken a victory lap on as costs have come down. Gas prices currently stand at a national average of $3.90, which is 63% higher than when Biden first assumed office.

She played a clip of Energy Secretary Jennifer Granholm on “Fox News Sunday” touting that the passage of the Inflation Reduction Act will allow those in the lower to middle income brackets to purchase solar panels and other items to weatherize their homes.

“This is Marie Antoinette, maybe she won the award,” Payne said in response.

He then pointed to a survey finding that only 3% of college graduate homeowners are behind on their mortgage payments, while very few individuals with less than a high school diploma own a house despite 13% being behind on their mortgage.

“I don’t understand. The Democrats have become the party of the elites,” Payne said. “It’s one thing to be the party of elites, but they’re taking taxpayer money from cab drivers and giving it to the people with college degrees.”

The White House has been pressured by fellow Democrats to cancel up to $50,000 in debt per borrower, so far having spent $32 billion in student loan forgiveness for over 1.6 million borrowers, The Hill reported. Biden has pushed for canceling up to $10,000 per borrower.