So I'm looking for opinions backed with facts on the proposed student loan forgiveness proposal. I have an attorney friend who stands by the charge that "no taxes would be used to payoff the cancelled loans" and that "the money paid on student loans gets lost in the Treasury Department and has nothing to do with new loans or the federal budget".
I have challenged this theory, but he dismisses my opinion because it is derived from internet talk and I have self admitted I have not read the proposal and do not plan to do so. He also claims I have zero knowledge of how future budgets work with respect to government even though I have worked on budgeting most of my banking life for the branches I oversee. He claims they are completely different which I call bullshit.
I may be wrong and he may be correct, I'm looking for you guys to give me your take.
I have challenged this theory, but he dismisses my opinion because it is derived from internet talk and I have self admitted I have not read the proposal and do not plan to do so. He also claims I have zero knowledge of how future budgets work with respect to government even though I have worked on budgeting most of my banking life for the branches I oversee. He claims they are completely different which I call bullshit.
I may be wrong and he may be correct, I'm looking for you guys to give me your take.