Neil Cavuto grills Democrat Rep. Khanna on Biden's student loan handout: 'Where does this stop?'
California lawmaker defends Democrats' spending agenda as national debt soars
California Democrat Rep. Ro Khanna celebrates the president's student loan policy, supports forgiving medical debt and says the nation is in deficit because we're not taxing billionaires on 'Cavuto: Coast to Coast.'
FOX Business' Neil Cavuto challenged Rep. Ro Khanna, D-Calif., Tuesday on his support of President Biden's plan to cancel student loan debt for many Americans, a move watchdogs estimate could cost taxpayers at least $500 billion.
"But what you do for some, do you do for all? Or do you now open the gate to people who are… behind in the utility payments, the 30 million who might be behind on their mortgage and car payments. Where do you stop?" Cavuto asked Khanna on "Cavuto: Coast to Coast."
"I think there's a difference between education and health care and whether you have a loan to buy a new car or to pay your electricity," Khanna responded.
President Joe Biden speaks about student loan debt forgiveness in the Roosevelt Room of the White House on Aug. 24 in Washington. (AP/Evan Vucci / AP Images)
Khanna pushed free public college and canceling medical debt, arguing education and health care are social "obligations" in modern society.
Cavuto continued to press Khanna on how Biden's plan creates a "moving target" for loan relief and leaves millions of Americans asking where their fair share of forgiveness will come from.
Biden's student loan handout also raises questions about its impact on the national debt, which has surpassed $30 trillion, according to the Treasury Department.
"So where does this stop? Because last time I checked, we're running a 30-plus trillion dollar debt," Cavuto asked.
Khanna noted that Republicans also contributed to the debt during the previous administration but argued Democrats' recently passed Inflation Reduction Act addresses debt reduction.
"You really believe that?" Cavuto interjected. "That's like one of my commitments to lose weight… I make promises, too."
Former Education Secretary Betsy DeVos argues that the Biden administration knows the move is a 'political loser' and is a 'ploy' to try to help get votes in the November elections.
"Republicans and Democrats have gotten us knee-deep in all this red," Cavuto continued. "I just wonder, how are we going to dig out of it? Because your goals are always very optimistic, very good and well-intended, but we can't afford them."
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Cavuto called out Democrats' spending agenda and a lack of effort to reign in programs digging Americans deeper into debt. He emphasized again the issue of relieving the debt Americans agreed to pay.
"You're paying for this, Congressman, with debt," Cavuto said. "You just increased our credit line."
Khanna argued "most" of the student loans in question were not being paid, which was destroying borrowers' credit in the process.
"That's on them," Cavuto responded. "They're getting rewarded for holding off on paying their loans... you see what you're opening up here?"