Bernie is right: Republican tax cuts cost more than forgiving student debt

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TrustBusterThurman on June 30th, 2019 at 13:25 UTC »

This is misleading because it would actually be far less! As much as 40% of student loan debt is expected to go into default in just the next 4 years, so it wouldn't be worth its face value and the private debt could be acquired for far less, and when the government forgives debt directly owed to it, they were never going to receive all of that debt in the first place. It's more like a $200 billion upfront expenditure to buy all student debt on the private market, and then, over the next several decades, another approximately $800 billion in foregone government revenue.

S-P-Q-R- on June 30th, 2019 at 13:41 UTC »

And the student debt relief would be a far greater stimulus for the economy by having everyday people much more likely to use that relief for everyday things like maybe getting a better deal on rent, eating out more at local restaurants, finally getting that car fixed at the local mechanic, being able to actually go to the doctor, or afford to take your kids on a nice vacation.

thinkB4WeSpeak on June 30th, 2019 at 13:52 UTC »

And the tax cuts didn't even bring anything to the country. Even with the tax cuts people still got laid off and company's moved their business overseas