Loan payment

Biden extending student loan payment break puts lighter cash on Duraflame: personal finance expert

Credible economic analyst Dan Roccato has joined FOX Business’s “Mornings with Maria” to discuss the Biden administration’s extension of the student loan payment hiatus. He argued that President Biden “adds more stimulus to the economy” and “puts lighter fluid on a Duraflame.”

BIDEN ADMINISTRATION PROBLEMS “FINAL EXTENSION” OF STUDENT LOAN PAYMENT BREAK: IS CANCELLATION NEXT?

DAN ROCCATO: You report something interesting, the kind of underreported stimulus impact of what we’re doing here. Law. So when you think about it, we have poured billions of dollars into the economy right now.

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And it is also a means of stimulus, a kind of stealth stimulus by letting 43 million borrowers defer their payments. Forget the politics about it for a second. You are essentially adding more stimulus to the economy. So you’re basically putting lighter fluid on a Duraflame right now.

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It is also interesting to link this to the forbearance of student loans. So all of that, you know, we take something down, pay for it later, which, by the way, isn’t necessarily a bad thing.

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