4 ms·
> Cancelling student debt is a lot cheaper than the F-35 program What math are you using? From wiki: "F-35 program's expected acquisition costs to $406.5 bill
by mrep 4y ago
> Cancelling student debt is a lot cheaper than the F-35 program
What math are you using? From wiki: "F-35 program's expected acquisition costs to $406.5 billion, with total lifetime cost (i.e., to 2070) to $1.5 trillion in then-year dollars which also includes operations and maintenance" [0] whereas there is currently $1.75 trillion student loan debt [1].
1.5 trillion in 2070 dollars is less than 1.75 trillion in 2022 dollars and the latter doesn't include the next 50 years of higher education funding.
[0]: https://en.wikipedia.org/wiki/Lockheed_Martin_F-35_Lightning_II#Design_and_production https://en.wikipedia.org/wiki/Lockheed_Martin_F-35_Lightning...
[1]: https://www.nerdwallet.com/article/loans/student-loans/student-loan-debt#:~:text=Student%20loan%20borrowers%20in%20the,Reserve%20Bank%20of%20St.%20Louis https://www.nerdwallet.com/article/loans/student-loans/stude....
- ubermonkey 4y agoI suspect the poster meant "the actual student debt cancellation being done".
- ninkendo 4y agoRight, the current cancellation signed by Biden cancels up to $10k for most borrowers (those making under $125k). This is expected to add up to around $244 billion: https://www.cnbc.com/2022/08/24/biden-expected-to-cancel-10000-in-federal-student-loan-debt-for-most-borrowers.html https://www.cnbc.com/2022/08/24/biden-expected-to-cancel-100...
- llbeansandrice 4y agoI know you're kinda trying to play gotcha, but it's insane that a single defense program costs about the same as the entirety of current US student loan debt. I don't think you've made the point you wanted to. Plus, the OC was definitely talking about the student loan forgiveness that's actually been approved. Which is a measly $300bn in comparison.
- croes 4y agoYou really think that the cost will stay at 1.5 trillion dollars? What were the estimates of costs at beginning of the F-35 program for the year 2022? I bet less than 406.5 billion dollars.