Tag Archives: Student debt

(June 24, 2019-Calgary) With Alberta’s economy still facing challenges and vulnerabilities, the Alberta government should not be doling out tax cuts or cutting social spending, according to the Alberta Alternative Budget (AAB) released today. “Alberta still has, by far, the lowest debt-to-GDP ratio of any province,” says Nick Falvo, editor of the report. “We are in a good position to increase spending on education, invest in affordable child care, offer free dental care to Albertans...

(June 24, 2019-Calgary) With Alberta’s economy still facing challenges and vulnerabilities, the Alberta government should not be doling out tax cuts or cutting social spending, according to the Alberta Alternative Budget (AAB) released today. “Alberta still has, by far, the lowest debt-to-GDP ratio of any province,” says Nick Falvo, editor of the report. “We are in a good position to increase spending on education, invest in affordable child care, offer free dental care to Albertans...

It's difficult to project precisely what the overall economic impact of this would be. Student debt is distributed all up and down the income ladder, and people at different income levels will spend or save the freed up money in varying proportions — it's the spending that will juice job growth and economic activity. But a Levy Institute paper from early 2018 — written by economists Scott Fullwiler, Stephanie Kelton, Catherine Ruetschlin, and Marshall Steinbaum — took a crack at figuring it...

CNN, Thursday: The Department of Education will implement a rule known as the Borrower Defense to Repayment created during President Obama’s Administration and blocked by Secretary of Education Betsy DeVos in 2016. The rule or regulation grants federal loan forgiveness automatically for students who could not complete their education due to the schools shutting down before their education was completed while they were enrolled. Unfortunately students are...

I'll break a self-imposed rule and link to the WaPo for this. The debt burdens not only the debtors but also the entire economy by dampening consumer demand. The federal government guarantees more than 90 percent of all outstanding student debt. A recent paper by Scott Fullwiler, Stephanie Kelton, Catherine Ruetschlin and Marshall Steinbaum of the Levy Economics Institute found that if the government canceled the debt it owns and bought out the remaining private creditors, it would...

Posted by Nick Falvo under aboriginal peoples, Alberta, budgets, Child Care, education, fiscal policy, homeless, housing, HST, income, income support, income tax, Indigenous people, inequality, labour market, macroeconomics, NDP, poverty, progressive economic strategies, public infrastructure, public sector procurement, public services, seniors, small business, social policy, student debt, taxation, user fees, women, workplace benefits. March 21st, 2018Comments: none The...

The recently passed Republican tax cut package will cost about $1.4 trillion over a decade, according to independent figures. It’s a very expensive policy that currently is not offset by an increase in government revenue, or by spending cuts.Another measure would cost about the same amount and it too would be hard to justify as a deficit-busting policy. But it might have greater economic benefits, say economists. That policy would be canceling all student debt. The contention comes from a...

Student loan debt is a crushing problem in America. Over 44 million people have such loans, with an average balance of about $30,000 — making for a total debt pile of $1.4 trillion. Unsurprisingly, people often struggle to repay these debts with their entry-level wages after graduating. Student debt is now the most common form of troubled debt, with about 11 percent of them 90 days or more delinquent. Worse still, thanks to Republicans and neoliberal Democrats alike, they are almost...

Download PDF at link below.The Levy InstituteThe Macroeconomic Effects of Student Debt Cancellation Scott Fullwiler, Stephanie Kelton, Catherine Ruetschlin, and Marshall Steinbaum February 2018 Yves comments.Naked CapitalismNew Study Finds Cancelling Student Debt Provides Broad Economic Benefits at Low Cost Yves Smith

Are Students a Class? | Michael Hudson Your access to this service has been temporarily limited. Please try again in a few minutes. (HTTP response code 503) Reason: Exceeded the maximum global requests per minute for crawlers or humans. Important note for site admins: If you are the administrator of this website note that your access has been limited because you broke one of the Wordfence blocking rules. The reason your access was limited is: "Exceeded the maximum global requests per minute...