Total outstanding student loan debt stands at $1.58 trillion or about $38,000 per student. That is more than we spend on Medicare and Medicaid or Social Security in a year. It’s more than half the entire official federal budget deficit.
Just as a point of reference in 2020, the total revenue of the U.S. government from all forms of taxes was about $3.42 trillion
Those numbers don’t stop clueless, pandering politicians and advocacy groups.
Gee, senior groups only want $91 billion to give each of us $1400.
And by the way, the unfunded obligation for Social Security over the 75- year projection period is $19.8 trillion in present value and is $3.0 trillion more than the measured level of $16.8 trillion a year ago.
How do we keep re-electing politicians who are so irresponsible? Perhaps because so many voters are equally self-focused and irresponsible.