Friday , July 10 2020
Home / CEPR Blog / Trump Veto Student Loan Debt Relief Measure Will Save Government 0.02 Percent of Projected Spending

Trump Veto Student Loan Debt Relief Measure Will Save Government 0.02 Percent of Projected Spending

Summary:
Yesterday Donald Trump vetoed a resolution passed by Congress, which would have left in place rules making it easier for students to default on debt owed to for-profit colleges that had engaged in deceptive marketing practices. The Washington Post told readers that this veto is expected to save the government billion over the next decade. Most readers may not have a good sense of how much money billion over the next decade is. The government is projected to spend 60,700 billion over this period. That means the savings from this veto will be a bit less than 0.02 percent of projected spending. The post Trump Veto Student Loan Debt Relief Measure Will Save Government 0.02 Percent of Projected Spending appeared first on Center for Economic and Policy Research.

Topics:
Dean Baker considers the following as important: ,

This could be interesting, too:

Dean Baker writes Combating the Political Power of the Rich: Wealth Taxes and Seattle Election Vouchers

Dean Baker writes The Problem of Medical Supplies Was a Stockpile Problem, not a China Supply Chain Problem

Dean Baker writes Is it Impossible to Envision a World Without Patent Monopolies?

Dean Baker writes Profit Shares Soared After the Great Recession: News You Can’t Get at the New York Times

Yesterday Donald Trump vetoed a resolution passed by Congress, which would have left in place rules making it easier for students to default on debt owed to for-profit colleges that had engaged in deceptive marketing practices. The Washington Post told readers that this veto is expected to save the government $11 billion over the next decade.

Most readers may not have a good sense of how much money $11 billion over the next decade is. The government is projected to spend 60,700 billion over this period. That means the savings from this veto will be a bit less than 0.02 percent of projected spending.

The post Trump Veto Student Loan Debt Relief Measure Will Save Government 0.02 Percent of Projected Spending appeared first on Center for Economic and Policy Research.

Dean Baker
I am a senior economist at the Center for Economic and Policy Research (@ceprdc). I also run the blog Beat the Press (@beat_the_press)

Leave a Reply

Your email address will not be published. Required fields are marked *