The 2024 federal budget deficit will climb to $1.9 trillion, which is $400 billion more than projected, thanks, in large part, to student loan “forgiveness.”
The largest portion of that $400 billion surprise comes from “a $145 billion increase that’s partly due to changes the Biden administration made to student loan repayment plans and a new, proposed forgiveness program that would waive some accrued interest for millions of borrowers.
I’m not one of those people who believes the debt will doom us. The Debt Doom talk is like Global Warming to me — for decades, we’ve been told the end is nigh, and there’s been no nigh, so I’ve stopped believing. Besides, now that I’m less than four years from collecting my Social Security, I could not care less — unless someone tries to cut my Social Security or Medicare! Yeah, I’m one of those guys now. Hey, I’ve paid in plenty for 45 years. You’re damn right I’m one of those guys.
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