One really big difference
Posted on: November 17, 2020 at 11:37:43 CT
*M* KC
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Without the COVID relief program, hundreds of thousands of businesses would have closed for good, and millions of people been unable to feed their families. The images of hungry children in the streets would have left us with a societal train wreck and quite likely led to major civil unrest and widespread violence. The rioting would have made the BLM riots look like a Sunday School class.
Preserving the status quo with student loans, however, will have no such effect. A small percentage of debtors will experience a diminished standard of living for a while. No one will lose their jobs. No one will be unable to feed their kids.
So while yes, there are external similarities, the differences in the consequences of inaction are enormous.