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Adam Ozimek
@ModeledBehavior
At a time when inflation was running high, they kept slamming the debt forgiveness button, leading to more spending and borrowing: "We find that student loan forgiveness led to increases in mortgage, auto, and credit card debt" papers.ssrn.com/sol3/papers.cf
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Noah Smith 🐇
@Noahpinion
We don't talk enough about how Biden's student loan forgiveness program added a huge amount to the deficit but was also deeply unpopular and basically didn't win any points with the youth vote. x.com/mattyglesias/s…
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David Watson 🥑
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shefen
@shefen
It's my understanding that some of that "forgiveness" was actually fulfillment of the loan terms for people working in public service who had been making loan payments for 10yrs. So the payments got shifted to cars and mortgages. Is that bad?
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Mike Pierce
@millennial_debt
Isn’t an increase in mortgage debt *the desired policy outcome*? People had loans, didn’t buy houses. Loans got canceled, people bought houses. I think the framing in that paper is extremely silly.
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install.exe
@lakecounty1975
The promise was made and voters expected it. The fact that it was made during a time of free money and low inflation meant he was damned either way.
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Daniel
@DanlDq07301
You progresses are so generous you know that how generous of you do steal from working last people and give it to people who will make more than them on average from having a college degree
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