CNN guest Johns Hopkins University professor Marc Goldwein punctured the left’s narrative that student loan debt forgiveness for those making less than $150,000 will not increase inflation during a guest appearance. “What we really need to do is make college affordable, not send a $10,000 gift to people that already have in many cases advanced degrees,” Goldwein said on the Aug. 23 edition of CNN Newsroom . But CNN reporter Poppy Harlow pushed back on Goldwein by citing a far left-economist tied to liberal billionaire and megadonor George Soros who reportedly claimed that canceling student loan debt would not increase inflation.
Goldwein called those claims “baseline trick” because the student loan repayment pause “was always meant to be a temporary pause. If it’s a permanent pause it’s not student debt: It’s student grants.” Goldwein also said, “disproportionately student debt is being held by people that have advanced degrees and pretty good income.”
That may not be comforting news for Americans who can look forward to an extra $300 billion tax burden if $10,000 in student loan debt for people who make less than $125,000 is enacted, according to the Penn Wharton Budget Model .
Harlow continued to press Goldwein on the additional “burden” that student debt repayment would cause to Americans, but the economist made clear that the other alternative was a recession. Goldwein responded that forgiving student loan debt is “gonna make the Fed’s job harder and that means it’s gonna increase the risk [that] they’re going to have to drive us into recession to get inflation under control.”
Goldwein argued that resuming student loan debt repayments was common sense. “We could send everybody another round of checks to pay for their inflation costs, but that would actually make inflation worse. What we need to do now is get inflation under control. […]
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