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Biden proposes new student-loan measures after court defeat
(www.reuters.com)
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this post was submitted on 02 Jul 2023
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politics
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It’s funny how we can print and print money for decades, we can “invest” in private industries, give them loans with favorable interest rates, billions in grants, look the other way with regards to regulations, not block anti-competitive practices, but the second we try to help actual people directly everybody loses their shit.
Want to help the economy? That $10,000 (or $20,000) for Pell grant recipients might allow someone to save $300 more a month towards a house, a car, or spend it on goods and services. After 3 years, that’s money back in the economy rather than back to bank that have gotten plenty of help in the best.
But we can not print money for decades as inflation is now showing. And if you want to help the economy, why not give money to the poor instead of to people that will become some of the highest earners?
What does our debt have to do with this inflation? Over half of inflation was caused by an increase in corporate profits. Most of the rest were supply chain issues and wage increases.