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The federal government is adding $1T every 100 days to the national debt.

That far outweighs any effect of student loans.

Does that go into the hands of consumers though? The great thing about debt forgiveness is it goes directly to the population.

The only more direct route would be to write everyone a check! (…and I just remembered Trump actually did that.)

Indirectly it does. Check out the economic multiplier effect.

https://www.tutor2u.net/economics/reference/multiplier-effec...

This hasn't held up at least over the last 15 years ago in the US. Our debt to GDP was around 60% going into the housing crisis. The ratio is now roughly twice that, around 120%.

In that time our national debt went from $9B to $33B. GDP went from $15B to $25B.

You can always calculate the multiplier, but in this context the multiplier would really need to be greater than 1 to show a meaningful economic benefit to the additional spending, and the debt to GDP ratio would decrease as GDP would grow faster.

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