President Joe Biden’s student debt relief plan could fuel inflation and benefit the well-off, Jason Furman, a former economic advisor in the Obama White House, said in an interview with MarketWatch on Saturday.
“The Hippocratic Oath is do no harm,” Furman said at the Jackson Hole Economic Symposium. “It’s hard to argue that whatever number of hundreds of millions of dollars here isn’t doing harm to the central project we have as a country, which is dealing with inflation.” See also: Watchdogs see Biden’s student-loan plan costing $500 billion to $1 trillion, while White House says $1 trillion isn’t ‘anywhere in the ballpark’
In the interview, Furman reiterated concerns other than inflation he has with the plan, including that it could benefit borrowers with high incomes. “If income limits had been half as high, it hadn’t applied to professional schools, I would have been half as concerned as I was.” “If there was a legislative policy that fixed student loans going forward and included targeted debt relief, I would be very supportive of that,” Furman said. “Absent any reforms to make sure we’re not back in the same place five years from now I think my preference would be no relief at all.”
Well so much for his opinion... the relief would never come. It's OK to work on reform while providing relief... there goes my opinion.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FoxNews - 🏆 9. / 87 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »