Re:Cancelling student debt is essentially printing money
by llbeansandrice on Friday August 26, 2022 @12:53PM
(#32609912)
I know you're kinda trying to play gotcha, but it's insane that a single defense program costs about the same as the entirety of current US student loan debt. I don't think you've made the point you wanted to.
Plus, the OC was definitely talking about the student loan forgiveness that's actually been approved. Which is a measly $300bn in comparison.
Re:Cancelling student debt is essentially printing money
by ubermonkey on Friday August 26, 2022 @12:40PM
(#32609696)
I suspect the poster meant "the actual student debt cancellation being done".
Re:Cancelling student debt is essentially printing money
by ninkendo on Friday August 26, 2022 @10:44PM
(#32615122)
Right, the current cancellation signed by Biden cancels up to $10k for most borrowers (those making under $125k). This is expected to add up to around $244 billion: https://www.cnbc.com/2022/08/24/biden-expected-to-cancel-100...
Re:Cancelling student debt is essentially printing money
by croes on Friday August 26, 2022 @01:00PM
(#32610035)
You really think that the cost will stay at 1.5 trillion dollars?
What were the estimates of costs at beginning of the F-35 program for the year 2022? I bet less than 406.5 billion dollars.
What math are you using? From wiki: "F-35 program's expected acquisition costs to $406.5 billion, with total lifetime cost (i.e., to 2070) to $1.5 trillion in then-year dollars which also includes operations and maintenance" [0] whereas there is currently $1.75 trillion student loan debt [1].
1.5 trillion in 2070 dollars is less than 1.75 trillion in 2022 dollars and the latter doesn't include the next 50 years of higher education funding.
[0]: https://en.wikipedia.org/wiki/Lockheed_Martin_F-35_Lightning...
[1]: https://www.nerdwallet.com/article/loans/student-loans/stude....