Good luck to your pension funds, 401k’s, etc. Mainstream America will be the bagholders here. As one students’ debt gets canceled other young savers using apps like Goldman’s Marcus to store their savings will get wiped out.https://twitter.com/zerohedge/status/1331674110221545480 …
I'm literally a Marcus customer, have a 401k, I'm under 30 and paid off all my student debt i would love nothing more than to see the economic ankle weights taken off of people my age. people <30 have a historically small slice of US wealth, this is the least government can do
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I feel you. People need to understand this sham for what it is. We all would like to “forgive” student debt. But not at the detriment of those that didn’t incur that debt.
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i don't think its to the detriment of anybody though to be honest, it amounts to a tax cut for young people if you look at the distributional effect and impact on the budget. no different than earlier tax cuts boomers gave to themselves during the bush and trump admins
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