Bernie Sanders caused a stir this week with his plan to tax Wall Street trades and use the cash to forgive student loans. One of his advisers makes the case for writing off those debts – even if investors don't pay for it.
Stephanie Kelton, who's advising the senator and Democratic contender in his presidential campaign, co-authored a paper that says the whole economy will benefit if America's $1.6 trillion in student debt is canceled.
It's a hot topic in the Democratic primaries, and Sanders is likely to get pushback in Thursday's second debate. Senator Elizabeth Warren, who appeared in the first one on Wednesday, has also backed writeoffs. But most candidates – like Senator Amy Klobuchar, who raised the issue last night – support measures to make college more affordable that stop short of debt forgiveness.