How exactly would student loan forgiveness stimulate the economy like many liberals claim it will?
I just think they are a bunch of moochers trying to get free handouts…education is not free.
I have been receiving group invites to this cause but I am unfamiliar to it because all my education is paid for, but how would this make any impact to the current financial situation?
http://www.facebook.com/home.php#/group.php?gid=46657437878
Idea is that when people have less debt, they spend more, which helps the economy.
Idea is flawed because writing off the debt will create huge losses for banks, which will mean lower interest rates for everybody with savings in those banks. Government bailout will create more government debt and higher taxes in the future.
Banks and automakers are getting bailout b/c they are on the brink of collapse, and their collapse will hurt too many people. English & Fine Arts majors might be on the brink of bankruptcy, but them going broke will not affect anybody except themselves.
