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Economy
Obama Admin: $1.3 Trillion In Student Debt Is Good For The Economy!
2016-07-20
[Daily Caller] The Obama administration has released a new report arguing the massive $1.3 trillion student debt load is helping the economy.

"Investing in Higher Education: Benefits, Challenges, and the State of Student Debt" is the work of the White House Council of Economic Advisers (CEA). The 78-page report argues that, despite the widespread belief student loans are dragging down young U.S. workers, the surge in debt has actually been a boon for the United States.

"Federal student loan programs help expand access to high-quality education, which has long-lasting benefits to individuals as well as the overall macroeconomy through higher labor productivity and faster GDP growth.
Posted by:Besoeker

#14  Its broken window economics. The type of model where its argued that a broken windows is good since it generates business for the window company and installers.
Posted by: CrazyFool   2016-07-20 15:39  

#13  It's certainly been a bonanza for the government-banker-educrat complex, i.e Democrats.

Like I said, Cravit, it's good for the scam artists.
Posted by: Abu Uluque   2016-07-20 15:35  

#12  Lady(?) in the photo must pay the bare minimum amount ($25/month). Let me guess.. she didn't major in economics....
Posted by: CrazyFool   2016-07-20 15:02  

#11  My student loans, as little as they were, cost me 1.5% interest and that only started some time after I graduated. I was making more on my savings in my bank account than that, so I paid them off as slowly as legally possible.
Posted by: Anguper Hupomosing9418   2016-07-20 14:13  

#10  It's certainly been a bonanza for the government-banker-educrat complex, i.e Democrats.
Posted by: Cravirt Flusong7056   2016-07-20 13:40  

#9  Federal student loan programs help like he said, if they can be paid off within a few years... Mine were paid off in about three years, with a hefty, but not burdensome, rate - about 8% of my gross, IIRC. As a civil engineer.

But I gotta idea - have the Feds pay off the interest!

Sounds like a plan, until I remember where they get 'their' money.
Posted by: Bobby   2016-07-20 12:50  

#8  It's good for the scam artists' economy.
Posted by: Abu Uluque   2016-07-20 12:22  

#7  If they were worthwhile degrees, there would be at least a sliver of an argument. As they are 5-6-7 year womyn's studies and queer science degrees, not so much...
Posted by: M. Murcek   2016-07-20 10:59  

#6  ... through higher labor productivity and faster GDP growth.

Yep - we've seen plenty of that recently!
Posted by: Raj   2016-07-20 09:34  

#5  Of course the indentured servant economy is good, because it involves white slaves.
Posted by: regular joe   2016-07-20 09:04  

#4  Well, the Donks always were for indenture servitude in one form or another. We keep you alive to serve this ship the state. Row Vote well, and live.
Posted by: Procopius2k   2016-07-20 08:57  

#3  Just pass a law that every entitled american citizen becomes a PhD in the hour of birth. Posted by g(r)omgoru

Great idea g(r)om! This coupled with gov't mandated 'demographic declarations' at the end of employment applications should do the trick.
Posted by: Besoeker   2016-07-20 08:36  

#2  Just pass a law that every entitled american citizen becomes a PhD in the hour of birth.
Posted by: g(r)omgoru   2016-07-20 08:32  

#1  Only if you subscribe to Wharton School debt-driven economic policies.
Posted by: Mullah Richard   2016-07-20 08:21  

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