Posted on 05/14/2022 12:51:10 PM PDT by ChicagoConservative27
During an interview aired on Friday’s edition of Bloomberg’s “Wall Street Week,” economist, Harvard Professor, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers stated that if politicians want to help solve inflation, one way to do so would be asking borrowers who “are in better financial condition than any time in a very long time, to pay back their student debts, rather than maintaining the moratorium.”
(Excerpt) Read more at breitbart.com ...
Paying down debt rather than buying stuff makes too much sense for this administration to endorse.
I’m pretty sure that would be raciest.
Which is surprising since he’s the go-to guy for criticisms of Brandon’s spending policies.
Definitely racist and probably contributes to globull warming.
I paid you student loans. Where’s my rebate?
“””Harvard Professor, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers””””
It looks like Biden’s Democrat friends are throwing him under the bus.
Long student debt repayment moratorium + continued inflation over a long enough run of time effectively eliminates that student debt as a personal economic burden. Of course it screws up the economy for everybody else, but that’s never really been much of a concern among the Democrats.
if they push to ‘forgive’ student loans...
my mortgage will self identify as a student loan
I don’t know about inflation, but it will help the bankers. Somebody is always looking out for the bankers.
EVERY reduction of government and monetary largess reduces inflation.
And every increase, increases inflation.
It’s axiomatic.
Harvard Professor. Stopped reading there.
OK, read further. He makes a good point.
FedGov owns a lot of student debt now. It would cool off the economy by sucking a lot of cash out of circulation.
This topic seems to be getting a lot of traction these days. Makes me wonder if something is on the horizon regarding student loan forgiveness.......
Is the price of food and gas being driven by the money supply? Are people going to give up food and gas to pay off their student loans. IDK.
When do the universities pay the price for defrauding students, parents and taxpayers for their garbage majors? Black studies? Queer studies? Women’s studies? Social work? Sociology? Labor studies? Theater arts? Lit Crit? Communications? General business? All bovine excrement!
As long as he keeps extending the public health emergency the moratorium will continue.
He’s as goofy as Paul Krugman.
Summers got into trouble a few years ago when he strayed off the reservation and suggested that there might be a biological reason why the world’s best mathematicians are men (not discrimination against women).
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