I'm already competely radicalized about student loan debt but this might be my joker moment
The U.S. government has halted some efforts to collect an estimated $62 billion in past-due pandemic loans made to small businesses, concluding that aggressive attempts to recover the money — a portion of which may have been lost to fraud — could cost more than simply writing off the debt.
The Small Business Administration adopted the policy last April, prompting the agency’s watchdogs to warn last month that it “risks” violating federal law.
Then you realize that the Federal govt, as the sole creator of our sovereign currency can't really run out of money and can in fact pay for anything it wants to. The only real limit to govt spending is real resources - labor, goods and services. Scaricity of those things leads to inflation.
Oh my god
This made me toss my phone in anger. And I never abuse my electronics like that.
This pairs nicely with that time Florida *lost* money drug testing people on government aid. Two awful tastes that taste awful together
This is also the month where student loan payments resume after years of being on pause from the pandemic. Wow.
I am here for this origin story.
Just admitting: “you can basically do corporate fraud because we can’t afford to stop you”
Can I be your consigliere
arrrrrrrrrrrhhhhhhhhhhhhhhhh