On CNN’s New Day on Thursday, Senator Elizabeth Warren (D-Massachusetts) responded to the argument that canceling student loan debt would only increase US inflation, which is at record highs.
Warren argued that “there is no evidence that the write-off of student loan debt contributes to inflation.” He added that eliminating student debt “would be a huge relief for tens of millions of working people.”
“[K]Note that even conservative economists say no, maybe, maybe about two-tenths of the 1% effect on inflation,” Warren said. “There is no evidence that eliminating student debt contributes to inflation. But doing so entails the burden of paying many working families. Keep in mind that only 58% of people with student loan debt actually have a college degree. The remaining 42% tried and God bless them, but pregnancy, they tried three jobs and couldn’t handle them all; “Now they earn like a high school graduate, but they’re trying to manage student debt and it’s destroying them.”
“Cancellation of a $50,000 student loan would be a huge relief for tens of millions of working people. And ultimately, I think we need to do more to make this economy work for workers.”
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Source: Breitbart
