Writing at The Hill Peter Morici expresses skepticism about one of the policy proposals that Elizabeth Warren has championed: college debt forgiveness. The piece is hard to excerpt but it’s reasonably short. I urge you to read the whole thing. The bottom line is that college debt forgiveness will improve little other than the balance sheets of the young people who’ve undertaken educational debt.
There are many other reasons to be skeptical including that most of the debt has been undertaken by the children of the prosperous. It would be yet another subsidy for the rich. And what about the young people, many of them poor, who have no educational debt? How fair is to spot kids with well-heeled parents a couple of grand (or a couple of tens of grand) while offering nothing to the half of all young people who do not pursue higher education?