Yep. Our economic thinking is completely upside down. Instead of asking “what it would cost,” we should be asking what it costs to keep all that money out of circulation.
The Debt Collective 🟥 @StrikeDebt
23 Apr 2021
Your daily reminder that cancelling student debt would have one of the largest bottom-up stimulus effects in American history. $1.8 trillion, currently going to loan servicers, would suddenly go toward housing, food and local businesses.
21
38
3
238
If the tax payer is paying for it then the same amount of money would be coming out of circulation that is coming in.
1
No, because it's not a zero sum game. People with money in their pocket then spend that money, creating more jobs just by doing so.
1
2
But you are taking money away from others to pay for it, reducing the amount they have in their pocket to spend. Unless of course you get the schools and banks to pony up. You also won't save on the servicing unless you get rid of new student loans too. Is that the plan?
2
Replying to @stasiakay
Wait. Who do you think we would be taking it away from? It would come from the US treasury.

Apr 24, 2021 · 12:05 AM UTC

1
2
Replying to @marwilliamson
How does the US Treasury get money?
1