Turns out the cost of the proposed student debt foregiveness will simply be added to the national debt
Of all the paying for it proposals the one I like best was that private universities will pay for it.
https://yournews.com/2022/08/29/2403471/analysis-bidens-student-loan-forgiveness-will-erase-deficit-reduction-of/
Having all Americans including those who never went to university or never took a loan or those who took loans and paid them in full have to pay for giving money to a select few is grossly unfair. How anyone can logically and honestly deny that is malarkey to quote a friend.
Instead the money would be better used making 2 years of community college free for every American citizen (no illegals). Sanders is correct about this at least.
Some economists who track federal spending and workforce issues panned Biden’s plan as offering unnecessary aid to many graduates who are financially well-off, potentially stoking inflation and running up deficits as borrowing costs rise.
They also said the move was puzzling just after the administration worked to bring down deficits in the newly signed “Inflation Reduction Act” with a 15% minimum corporate tax and new enforcement funding for the Internal Revenue Service. read more
The about-face just a week later “is bad economic policy,” said Alan Auerbach, a public finance economist at the University of California, Berkeley. “To switch from saying ‘we’re doing this in a responsible manner’ to turning around and blowing all the money they saved and more, from a policy perspective, it makes no sense.”
They also said the move was puzzling just after the administration worked to bring down deficits in the newly signed “Inflation Reduction Act” with a 15% minimum corporate tax and new enforcement funding for the Internal Revenue Service. read more
The about-face just a week later “is bad economic policy,” said Alan Auerbach, a public finance economist at the University of California, Berkeley. “To switch from saying ‘we’re doing this in a responsible manner’ to turning around and blowing all the money they saved and more, from a policy perspective, it makes no sense.”
https://yournews.com/2022/08/29/2403471/analysis-bidens-student-loan-forgiveness-will-erase-deficit-reduction-of/
Having all Americans including those who never went to university or never took a loan or those who took loans and paid them in full have to pay for giving money to a select few is grossly unfair. How anyone can logically and honestly deny that is malarkey to quote a friend.
Instead the money would be better used making 2 years of community college free for every American citizen (no illegals). Sanders is correct about this at least.
