The economy will come back like gang busters....but a year away....
And student debt...forgiven.....why?
Just make payments delayed for 6 months....
Tim...you and @TerryP have been in bars together......figuring ur metrics....and cash flow...this is evidenceCorrect, any benefit would be delayed and gradual. If you were to forgive $50 billion in debt, the only direct injection into the economy would be the relief from monthly payments. For example, if that $50 billion was to contractually pay over 20 years at an average rate of five percent, for example, the collective monthly payment would be about $328.6 million a month. Over the course of a year, that would be about $4 billion in payments that would not need to be made, a far cry from a $50 billion direct intervention. The "cash" from forgiveness would either reduce Sallie Mae's ledger or real cash would go to private lenders.
Understand 100%I was simply saying there are better uses for that money and stimulating the economy. No one wants to buy a house or a killer car more than a graduated person or young adults between 25-35. Think of how many vacations and trips more would take if you take away their student loans. That's all I was eluding too.
We went to remote as of yesterday.
30% increase in confirmed cases in 24 hours, from ~4500 to ~5900