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Originally Posted by Dutch
Loan Forgiveness basically falls under Education, The $1 trillion dollars in estimate loan forgiveness equates to about 10 years of total funding of the Department of Education.
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That's an incredibly rudimentary way of looking at the expense. As the study posted and many others show, there are immense benefits to our economy by paying for college educations and providing loan forgiveness.
If people are not in massive debt, they're able to buy a home, cars, and other things. They can start a family and pay for all the expenses that come with that. They pay taxes on those things, their purchases create jobs for people who in turn also pay taxes. The economy flourishes when most of the middle class' income isn't earmarked for interest on a decades old debt. You have to factor that into your figures.
Not to mention the societal benefits. More education leads to less crime. So you'd actually be safer and can spend less on prisons and other things in the criminal justice system.
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Originally Posted by Dutch
But eventually, we're going to have to make those hard decisions. I'm more and more convinced that overspending our income tax revenue by 130% every year (or whatever we're doing these last 5 years) is more bad than good.
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It's weird how the "we need to make tough decisions" folks always pop up when it's something like food assistance or education. Didn't see you comment on the
$100 billion we just gave out for a deadend war. Something that provides Americans with next to no actual measurable benefit. Or the trillions spent in Iraq and Afghanistan.
How about the $2 trillion on a plane that can't fly in the rain?
Agree we need to be concerned about our debt. There's about a million things I'd cut before student aid which have immense tangible benefits to this country. Or I'd just have wealthy people actually pay taxes.
Here's another $150 billion just by enforcing existing laws.