The Bogus Arguments Against Student Debt Relief
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Senate Minority Leader Chuck Schumer and Sen. Elizabeth Warren have proposed a student debt relief cap of $50,000.
Deficit hawks have been attacking the idea of student debt relief using straw men and deceptive data. The offenders include the Brookings Institution, Goldman Sachs, and the Pete Petersonâspawned Committee for a Responsible Federal Budget.
Here are their key arguments: First, a lot of student debt is held by relatively well-off people and those with advanced degrees, and so student debt relief is bad distributively. Second, the macroeconomic stimulus would be weak compared to other possible uses of the money.