Quote from: robattfield on Today at 02:58:55 PM

I'm not sure that the effect on the US economy, student loan forgiveness can boost consumption and boost shortterm economic recovery, as students will have more money to spend and invest in the future. But be aware of the fact that this can have a longterm negative effect, by creating a signal that the loan is forgiven, leading to an increase in the value of student loan debt in the future.
And the story that they may be good once but they have done bad many times and not entirely sure of their machinations after that, but honestly I am not a fan of the current US and Biden administration, With a new election coming up, it could also be part of a plan to gain public confidence.

Yeah, it will increase the spending power of these debtors because they will have extra cash to spend on something else. Businesses will also enjoy high patronage and jobs can be created. But its long-term effect will be inflation. And the inflation will affect everyone, meanwhile, this policy favored few persons. I don't see anything wrong with students paying back what they owe if they have been gainfully employed. Politicians can do anything to gain political power.

Quote from: Gyfts on Today at 03:53:11 PM

39 billion is inconsequential to the U.S. economy considering how recklessly the U.S. government will spend trillions of dollars without thought, and subject them to exponential debt growth. Besides, they've sent Ukraine more than that in aid over the past year.

I was thinking about the implication of the government losing such an amount of money that would have been used to invest in other sectors until I read your post. The financial recklessness of the government in financing the war in Ukraine is nothing to compare with the amount spent on this loan amnesty. But others might also argue that Ukraine needs support.