Quote:
Originally Posted by ZNPaaneah
Total US Student debt carried by the government is $1.5 trillion. That is about 1/3 of our budget. Total US debt is 22 trillion. Wiping out this debt would increase our overall US debt by 6.8%. However, for every single person that had the debt forgiven it would improve their balance sheet tremendously, which in turn would enable them to borrow $2 trillion or more, most likely for mortgages and cars. It would be the biggest jobs program and stimulus package ever given to the US. Obama's stimulus package was about half of that ($720 billion).
You could see it as an investment in college graduates. So one possible way to roll it out would be to wipe out half. But realize this, if this resulted in $2 trillion in new purchases 40% of that returns to the US the first year in taxes.
|
Using the language of the Dems, your plan is RACIST!
It gives money to the rich and takes from the poor!
But like Joe Biden says, "poor people are just as smart as white people."