Commentary
When debts become unpayable, then they should be forgiven. This is the opinion of Michael Hudson, a professor of economics at the University of Missouri-Kansas City. Regardless of the context, the idea of debt forgiveness sounds ludicrous to some. To some, sure. But not to all.
Last week, President Joe Biden said he was seriously considering widespread student debt forgiveness. Although many commentators on the left were quick to praise Biden’s comments, important questions must be asked, including the following: Is widespread student debt forgiveness a good idea? If Biden goes ahead with his plan, how much will this cost the United States, a country that is already submerged in a sea of debt?
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