Canceling student debt would be recession insurance for Joe Biden

The Biden administration is baffled as rising prices and Russia's invasion of Ukraine threaten the US recovery: How to boost the economy without further fueling inflation? Joe Biden's pledge to forgive some student debt could be one of the best ways to avoid a recession for years to come without boosting prices today. In an economy made more vulnerable by supply chain problems and war disruptions, the added burden of student debt has the potential to default borrowers and trigger a recession.

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