I genuinely don’t get it. My brain says if people don’t have this looming debt they have to pay into, they’ll have more money to feed into the economy via goods and services.
ETA: I only have this question because of what Biden is saying. I have a gut feeling it’s misdirection to avoid cancelling student loans, but figured I check.
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Maybe because since its borrowed money, it leads bsck to the banks, and if the banks dont get their money back, it means they dont got the moneys in the bank. And to have the “moneys”, the government prints more moneys. But doing that decreases the value of the USD
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