The plan would cancel $10,000 in debt for those earning less than $125,000 a year, and for those who received Pell Grants, $20,000 in debt will be wiped.
“I cannot believe I gave two legs for my tuition,” Jones posted to Twitter, referring to the price he paid while serving as a U.S. Marine to have his college paid for.
“What a dope I am,” he added. “Ooh-rah!”
I cannot believe I gave two legs for my tuition. What a dope I am. Ooh-rah!
— Joey Jones (@Johnny_Joey) August 24, 2022
The veteran’s tweet quickly went viral, racking up more than 40,000 likes in a matter of hours.
Jones lost both legs and suffered serious damage to his right forearm and both wrists in 2010 while serving as an Explosive Ordnance Disposal (EOD/Bomb) technician in Afghanistan.
The Fox News contributor was not the only one to express some feelings about Biden’s announcement. As reported by The Daily Wire, others online called the move to cancel student debt “f***ing insanity” and “a real slap in the face” for those who’ve paid off their debts or opted not to take out loans they couldn’t afford.
“All of this means people can start finally to climb out from under that mountain of debt,” Biden claimed in his remarks at the White House on Wednesday. “To finally think about buying a home or starting a family or starting a business. And by the way, when this happens, the whole economy is better off.”
When Biden was asked if the policy is “unfair to people who paid their student loans or chose to not take out loans,” the president responded by talking about “multi-billion dollar businesses” and tax breaks.
“Is this unfair to people who paid their student loans or chose to not take out loans?”
Biden: “Is it fair to people who in fact do not own multi-billion dollar businesses? See how these guys give them all a tax break. Is that fair? What do you think?”pic.twitter.com/4wpcbMAvDG
— Daily Wire (@realDailyWire) August 24, 2022
According to an analysis from the University of Pennsylvania’s Wharton School, the Biden debt forgiveness plan will largely help higher income earners while exacerbating inflation, The Daily Wire reported Wednesday.
Nixing $10,000 of student loans per borrower would cost $298 billion in 2022 and a total of $329 billion by 2031 if the policy is renewed each year, according to the nonpartisan Wharton analysis. Less than 32% of the funding would benefit Americans in the two lowest income quintiles, while 42% would benefit those earning more than $82,400 per year.
“People in higher income households are more likely to have student debt and they owe more on average,” Cato Institute education policy analyst Colleen Hroncich told The Daily Wire. “So, most cancellation plans would benefit the wealthy more than middle-or lower-income families.”
Ben Zeisloft contributed to this report.