Doesn’t hurt? Where does all that money that was owed go? Does it just disappear?
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- Thread starter SHUMAN
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Lets be real here. You won't notice if we spend 5.8 trillion instead of 5.82 trillion next year.
It hurts about the same as the increase in our military spending this year. So, not at all.
Cost of Biden Student Loan Bailout Could Exceed $1 Trillion - Americans for Tax Reform
The cost of the Biden administration’s student loan bailout could exceed $1 trillion, according to a new analysis by the Penn Wharton Budget Model. This level of reckless spending will drive already-surging inflation. On Wednesday, President Biden announced a plan to cancel $10,000 in student...
www.atr.org
“Peanuts” as some would say….Cost of Biden Student Loan Bailout Could Exceed $1 Trillion - Americans for Tax Reform
The cost of the Biden administration’s student loan bailout could exceed $1 trillion, according to a new analysis by the Penn Wharton Budget Model. This level of reckless spending will drive already-surging inflation. On Wednesday, President Biden announced a plan to cancel $10,000 in student...
Estimates I have seen have been about 400 billion over 30 years. You won’t notice.
Plus the benefit to the economy of lower to middle income families having that much more to spend isn’t a bad thing either.
$400 billion you won’t notice? Is that how you approach your job? What about the responsibility of paying off a debt that you incur? What about all of the people that took the responsible route and paid off their loans? It’s beyond the $400 billion to $1 trillion.
By you’re line of thinking, let’s relieve people of mortgages too so they have more to spend.
Again, I’m not supporting it… I just don’t care about that issue at all. Doesn’t impact me. I won’t notice the 0.05% impact on the budget in that timeframe.
Of all of the political issues to care about, this registers pretty much last for me.
So you care about issues that impact you specifically. Keep playing with the numbers, but $1 trillion is a trillion. Hard to spin that with a straight face. Just because you don’t care doesn’t mean it’s bad policy.
Maybe, and you’d have to factor in the economic impact of people having more to spend as well to get the whole picture. No one has done that yet.
Not sure what the difference is between the CBO estimates of 400 billion vs the 1 trillion dollar number is. A trillion seems high considering that is about 60%+ of all current student debt.
That said, if this is a top issue for you. That’s fine. No one will notice any impact from this except for the people it helps.
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anon_ezos2e9wn1ob0
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I don't believe student loan relief is fair. There are people that busted their ass and sacrificed alot in life to send their kids to college. People should pay their debts, nobody held a gun to their head.
That’s fair. I agree that it is their debt and they should pay it, but I’m not mad that some people who busted their ass and may be struggling will see some relief.
Was just talking about the impact to inflation and the economy overall.
How about this? Tell me about an issue that doesn’t bother you, and send me 0.05% of your income over the same time period. Deal?
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