Bernie Sanders and Elizabeth Warren have been leading the pack of some two dozen Democratic primary contenders on a range of progressive issues. But here's one survey they probably don't want to see.
According to a survey from the National Association of Business Economists, canceling Americans’ student debt, one of the most pressing domestic issues for 2020, would actually have an adverse impact on the US economy - instead of unleashing the millennial generation's consumption power, allowing them to settle down, buy homes and start procreating again (remember, the US birth-rate fell to its lowest level in more than a decade this year).
On the contrary, 64% of respondents (most of whom are business economists) believe forgiving most or all of student debt in the country - as both Sanders' and Warren's plans would do - would be a net negative for the economy.
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14 comments:
you made the loan, you pay the loan
12:10 easy for a boomer to say. I guess all doctors, nurses and engineers should have just gotten a job in the trades instead? When all the student loans are predatory what choice do they have?
12:10 so by that logic, farmers who chose to grow soybeans should deal with the consequences and not receive any subsidies from the government? You grew the bean, now sell the bean the best you can despite overwhelming outside forces controlling your livelihood
Hang on, this is a survey not an analysis. This is just the opinion of people like 12:10 who grew up in a time of economic prosperity while ruining the future for their children
Yes 12:10
This is a survey and not a study...
12:10 is spot on
They signed the note no different that a car loan or house
The education industry has convinced our young people that they must have a degree any degree that way people get to forward their money to the education industry thus keeping it growing
I paid for mine let them pay for theirs I have no reason to forward my money to someone else
I don't appreciate the fact that I would have to pay for someone's stupidity, no, don't think so. I did not tell these fools to go borrow money, they can repay their own debt.
What about all of us who scrimped, saved and sacrificed to actually pay ours off?
12:14 Baby boomer or not I had student loans and I paid my student loans back. Believe me the members of the professions you mentioned had plenty of loans, too. You take the loan, you pay the loan. Plain and simple. If the boomers are responsible for anything it's letting punks like you get away with moronic accusations and shirking responsibilities.
Cancel the debt with the University pays back 80% of the tuition.
Oh, and by the way. Look at some of these university endowments, they can afford to give back what they grossly overcharged to begin with.
Maybe you should compare the size of the student loans they are talking about. College is much more expensive now then it was back in the day.
What do you mean predatory?
You take out s student loan, it is your responsibility to read what you are signing. If you fail to pay it back it is clearly spelled out what can happen.
If you FORGIVE their Debt, then you better send the rest of
us for FREE too !!!!
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