There are very good reasons the US government should forgive student loan debt — not just for the debtors themselves, but for working-class people without college degrees too.
Julian Jacobs is a political economist researching and reporting on income inequality, financialization, debt, voter behavior, and technological change.
Economic data doesn’t suggest that the US economy is in a recession, but Americans’ on-the-ground experiences tell a different story. Extreme income inequality can explain the discrepancy between the economic data and the real-world belt tightening.
Neither mainstream American political party has a compelling message for working-class voters. As a result, voters are starting to vote in line with their cultural opinions, not their class interests. Unfortunately, that’s good news for the Right.