As economy contracts, Biden considers canceling student loan debt

Monday, May 2, 2022 | Tag Cloud Tags: , , , ,

(Worthy News) -President Joe Biden is considering canceling student loan debt for millions of Americans, a move critics say could increase inflation and further exacerbate the nation’s economic woes.

Biden added that he would not forgive $50,000 of debt per borrower, a figure that had previously been tossed around, but would take a “hard look” at another plan. He said he would release more details in the coming weeks.

Meanwhile, inflation remains high, bipartisan groups raise concerns about federal spending, and the latest economic reports show the economy shrank. [ Source: Just the News (Read More…) ]

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