It's the same thing as with the baby formula shortage - throw money at a problem without solving the underlying issues. It's the same thing all the time with these fuckers. They have no problem sitting up there being "in charge", willy nilly spending our hard earned money, while not fixing a damn thing. I couldn't be more opposed to this.
https://www.cnbc.com/2022/08/24/bide...inflation.html
"The National Taxpayers Union’s estimate of costs per taxpayer is based on data from the Penn Wharton Budget Model, which found the total cost of proposal could be $329.1 billion over 10 years, based on $10,000 in forgiveness for borrowers with less than $125,000 in income."
"Based on a total of under 158 million taxpayers in 2019, that works out to $2,085.59 per taxpayer, the National Taxpayers Union found."
"Canceling student debt will boost near-term inflation more than the Inflation Reduction Act that was recently enacted would reduce it, the Committee for a Responsible Federal Budget found in a recent analysis. Moreover, it found that canceling student debt would also undermine the deficit reductions in that law recently passed by Democrats."
“Higher education is one of the most difficult, thorny problems that you really need to get into how universities and graduate schools are financed and what kinds of changes would make it more affordable. This accomplishes none of that.”