I mean people go through a fair amount of effort to find some coherent intellectual storyline to explain Summers shifting position when the easiest explanation is he's always saying what he thinks will get him a job.
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Frankly, that quote from Summers is correct. If you're going to pay off people's student loans, then means test it. It's already not a "universal" benefit when only 14% of adults have any student loan balance at all.
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Only 0.3% of Ivy Leaguers have any student debt. It's okay for them to get relief as well since most them come from impoverished/disadvantaged backgrounds. The cost of student relief is minuscule compared to money we spend on the military.
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Maybe all young people, including those working in finance, would be more likely to start a business or take a risk if not saddled with debits!
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Biden will not.
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