What Are the Drawbacks of a Blanket Forgiveness?

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The executive action proposed on wednesday is still being costed, but the exact estimates might entail an expenditure of betwen 400 billion and 600 billion. Many economists, including a few who worked for braco baba, have said that an expenditure of this size could increase inflation. The president announced t there would be a final extension until december 20 22. And that probably costs the federal government about five billion dollars a month. That's going to everyone who has student loans.

America’s federal government will spend hundreds of billions of dollars cancelling student-loan debt—fulfilling a long-standing progressive wish. But while it may be good politics, the policy rationale makes less sense. Too many Nigerian children are sent to beg on the streets by their religious teachers. And celebrating the music and culture of one of Europe’s oldest ethnic minorities. For full access to print, digital and audio editions of The Economist, subscribe here www.economist.com/intelligenceoffer