President Joe Biden has canceled $7.7 billion of student debt in another round of student loan forgiveness.
Paul Mueller, senior research fellow at the American Institute for Economic Research, said this is just increasing the national debt. He takes a look at what this could mean for the economy and everyday taxpayers. He also raises a much broader concern of how the continued forgiveness could fundamentally undermine student loans and could impact future students’ ability to borrow. Mr. Mueller takes aim at the ethical and legality of the canceled debt as well.
