By the end of 2022 beneficiaries of the moratorium accumulated an additional $2,500 in student-loan debt and an additional $2,000 in credit-card, mortgage and car-loan debt, boosting total household indebtedness by 8%.
And I’m sure that’s 100% attributable to having a break from student loan payments, and nothing to do with the massive amount of inflation that corporations have chosen to continue to inflict on us well beyond when prices were driven up during COVID.
Yep, nothing at all. /s
(e-) Oh, and don’t forget that a good portion of those people were still in school for a few years during that period, which typically costs way more than $2,500. I suppose that has nothing to do with it, either.
Yup this is 100% classic blame shifting tactics.
Corporations caused massive inflation by hiking their prices and raking in proportionally massive profits. And now that everyone is seeing the inflation and a matching economic downturn they’re trying to redirect blame so they don’t end up like the (admittedly very few) bankers that were tried for the 2008 housing bubble burst and the resulting run on the banks.
I’m not hopeful for accountability sadly. This one was death by a thousand paper cuts. We simply don’t have the resources or processes to hold that many accountable.
it was a bad idea compared to complete student loan forgiveness, but sure blame the people who’re getting screwed
