This was a great idea previous to the COVID related $7+ trillion addition to the national debt. The national debt went from about $23 trillion to about $30 trillion in less than 3 years. Now we'll be adding more to it. If all the 45 million get a break then that's 45 mil * 10k = 1/2 trillion, about. It's nuts.

https://www.usdebtclock.org/

I'm all for it but the administration needs to figure out how to pay for it. Adding to the national debt will increase inflation, making things worse for everybody in the long run.

Transferring 250b to a group will cause inflation to rise since they will increase their consumption and total output will likely not rise.

Inflation impact probably some fraction of a percent which Is 100 to 200$ for a home

I don't think this is good policy and I also don't think this is good politics. What is thought process here? Give a handout to a portion of your base that doesn't really turnout to vote and give Republicans something meatier to get their base off the couch to vote.

Love how people complain about helping out to citizens, but when it's the money for the military industrial complex, no amount is too much.

SCOTUS taught us that corporations are people, and they’re not poor people, so they’re good.

ha

College is already free: https://www.benefits.va.gov/giBill/

What is the incentive for paying off my loans if others are getting them cancelled? I’m happy for them, but I might as well stop sending payments.

Most of the beneficiaries of this decision will be people who went to for-profit scam "colleges" like ITT Tech (many of which have now shut down for essentially being fraudulent enterprises).

Those students look to be better served by this settlement

https://www.forbes.com/sites/adamminsky/2022/08/05/court-gra...

Let us know what happens

This is not legal -- this is effectively an appropriation of money, which must be done by Congress.

Sounds like a political power play then. Should republicans sue to stop it? Not sure if that’s good optics to pursue.

Republicans don’t need to sue, just find some tax payer advocacy group to do the lawsuit

It's likely they wouldn't be found to have standing. Congress would need to be apart of the lawsuit, but that could be as little as one person elected to congress.