A net boon says nothing about who are the winners and losers.
If I steal 100K from you and turn it into 110K for me, that is a net gain. However, you might not find it very favorable.
If I steal 100K from you and turn it into 110K for me, that is a net gain. However, you might not find it very favorable.
It's robbing Peter to pay Paul. Someone with student debt gets relief and greater spending capacity and everyone else just get some more national debt and higher interest rates.
It is all upside for one party and all downside for the other. As the paper states, GDP goes up, but less than the total cost over a 10 year horizon.
Forgiving 1.4 Trillion debt is predicted "Over the 10-year forecast, the policy generates between $861 billion and $1,083 billion in real GDP.
Now GDP doesn't equal federal revenue so you are really looking at adding $1.4T debt for a fraction of $1T in returns.