Dean Baker Blog | Trump Veto Student Loan Debt Relief Measure Will Save Government 0.02 Percent of Projected Spending | Talkmarkets
Co-Director at Center for Economic and Policy Research

Dean Baker co-founded CEPR in 1999. His areas of research include housing and macroeconomics, intellectual property, Social Security, Medicare and European labor markets. He is the author of several books, including "Getting Back to Full Employment: A ... more

Trump Veto Student Loan Debt Relief Measure Will Save Government 0.02 Percent of Projected Spending

Date: Sunday, May 31, 2020 6:53 AM EDT

On Friday Donald Trump vetoed a resolution passed by Congress, which would have left in place rules making it easier for students to default on debt owed to for-profit colleges that had engaged in deceptive marketing practices. The Washington Post told readers that this veto is expected to save the government $11 billion over the next decade.

Most readers may not have a good sense of how much money $11 billion over the next decade is. The government is projected to spend 60,700 billion over this period. That means the savings from this veto will be a bit less than 0.02 percent of projected spending.

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