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  • Supreme Court student loan ruling could cost billions in economic impact, analysts say

    07/03/2023 10:03:57 AM PDT · by Oldeconomybuyer · 69 replies
    ABC News Local ^ | July 3, 2023 | ByLaura Gersony
    WASHINGTON -- The Supreme Court's decision striking down President Joe Biden's program to forgive student loan debt for about 43 million people could hurt not just individual borrowers, but also the U.S. economy, as billions of dollars of consumers' disposable income are taken out of circulation. The ruling could spark a "modest headwind" against economic growth, Bernard Yaros, an economist at Moody's, a financial risk assessment firm, told ABC News. "None of this is enough to tip the economy into a recession," Yaros said. "But this is no doubt a hit." Thomas Simons, an economist with the equity research firm...