Emma Camp: Student Loan Forgiveness Is Bad News and Bad Policy
Assistant Editor Emma Camp unpacks how Biden's student loan forgiveness plan is deeply misguided.
Assistant Editor Emma Camp unpacks how Biden's student loan forgiveness plan is deeply misguided.
From cronyist subsidies to an unfair tax code, there are several key fixes Congress could make to better serve the public.
Plus: Spider study sheds light on how misinformation spreads, Airbnb regulation ruled unconstitutional, and more...
Biden's plan to forgive nearly $300 billion in student loan debt will disproportionately help affluent Americans.
"Student loan relief would lead some people to spend more," warns Obama economic advisor and Harvard economist Jason Furman
Unsurprisingly, wealthier Americans will be the prime beneficiaries of the White House's soon-to-be-announced student loan forgiveness scheme.
But it will raise taxes and sic thousands of new IRS agents on American households.
Many conservatives no longer appear to care much for fiscal conservatism.
Congress has added $2.4 trillion to the long-term deficit since President Joe Biden took office. Now they want credit for reducing the deficit by $300 billion?
Senate Republicans have raised reasonable objections that legislation covering veterans' health conditions linked to toxic burn pits will allow for more spending on unrelated items.
A new report from the Government Accountability Office found that the Federal Student Loan Program will cost over $300 billion more than originally predicted.
Making their monthly payments is a major drag for millions in their 20s and 30s, but federal forgiveness is the stupidest way to address this problem.
If you believe that moving most of our chip production onshore is good for national security, you should labor for regulatory reforms rather than subsidies.
The proposal reportedly hikes taxes by over $730 billion, with $300 billion of that money to be used for reducing the federal budget deficit.
Dissecting the president's misleading claims about falling deficits
Here's hoping we don't wind up with more of the spending and favoritism that's become so common.
Interest rates and servicing costs could push us into worrisome territory sooner than we think.
...and why government spending is like an infestation of cicadas.
Only 6 percent of Americans say the federal government is extremely "careful with taxpayer money," yet those same Americans consistently report that they want the government to do more.
Despite a few encouraging analyses, the numbers just don't add up.
Under Biden, Trump, and Obama, government federal spending almost doubled.
The president's argument is amazing for its tone-deafness, inconsistent thinking, and sheer economic ignorance.
The president is trying to claim credit for falling deficits. Actually, his administration has overseen a $2.4 trillion increase in the long-term deficit.
Under current policies, Social Security and Medicare will consume 85 percent of all federal tax revenue by 2050.
Biden gloats over a historically astronomical budget deficit as if he's accomplished something significant. He hasn't.
New CBO report shows that the longer Congress waits to deal with the debt, the bigger the problem becomes.
Student debt cancellation would disproportionately benefit college degree holders with higher earnings.
The president's $5.8 trillion budget shows he wants more of the same government spending that is already sending prices through the roof.
Some want to solve the problem with subsidies for gas, housing, child care, and more. That only risks greater stagnation.
Joe Manchin keeps saying out loud the part that Joe Biden would rather keep quiet.
Congress continues to allocate funds to produce weapons that the Pentagon itself says it doesn't need.
Democrats hail the new budget agreement as "the largest increase in non-defense discretionary spending in four years" while Republicans tout a big boost in military spending. Everyone wins!
Inspiring support for Ukrainian freedom is undermined by the remainder of the president’s agenda.
We must face the reality that the debt does matter.
"If I do my job right, you should barely know I'm here."
A bipartisan group of lawmakers are calling for two deficit reduction ideas to be included in this year's federal budget bill.
"Greed is constant. If it's greed, how do we explain prices falling?"
But Washington just keeps hitting the snooze button.
Using "we" implies a collective responsibility, creates the false impression that most people are on board, and hints that we'll share equally in the benefits.
A one percentage point increase in interest rates translates into a $30 trillion increase in interest costs on the national debt.
America needs to get its fiscal house in order.
Enough with the budget gimmicks. It's time for Democrats to admit that Biden's proposal is a long, long way from being fully paid for.
Habitual debt busts are one Latin American export that is better left on the dock.
If all the Build Back Better plan's proposals were made permanent, the final price tag would be $4.8 trillion and the bill would add about $2.8 trillion to the deficit.
There are five instances of the Treasury defaulting on the debt.
The legislation will have a negative impact on the labor supply and send high prices soaring even higher.
The Congressional Budget Office's analysis of the bill is unlikely to prevent its passage through the House. A vote could happen later tonight.
It's Biden's bill, but Trump helped set the stage.
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