I'm not an economic expert but all these points seem plausible except I was wondering about this one: > $31M less in spending, economic growth, job creation...

I'm not an economic expert but all these points seem plausible except I was wondering about this one: > $31M less in spending, economic growth, job creation... Wouldn't there also be a corresponding $31M increase in spending from the people who got their debts canceled, making it a wash? They'll spend it quickly I'd imagine, on food or other necessities. Just the money would flow into the economy via a different route.