SOFI - 'Buying Votes' With Other People's Money Says Elon Musk As Biden Announces Additional Student Loan Forgiveness; Bill Ackman Calls It 'Illegal' | Benzinga
President Joe Biden announced Friday that his administration would cancel $7.4 billion in student debt for 277,000 people, but the loan forgiveness has raised eyebrows of some who are worried about ballooning fiscal deficit and the rising debt burden.
What Happened: Right-wing publication ZeroHedge called out the move in a post on X, saying, “Buying Votes: Biden Cancels Student Debt For 277,000 Borrowers Ahead Of Presidential Elections.”
In response, X platform owner Elon Musk, who has been fairly forthcoming with his views on issues facing the nation, went a step ahead and said, “Buying votes with OPM.” OPM stands for “other people’s money.”
Buying votes with OPM — Elon Musk (@elonmusk) April 13, 2024
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Why It’s Important: The U.S. debt clock is ticking relentlessly as the country has raked up ...