I suspect people will start missing their mortgage payments in nontrivial numbers.
Trump administration officials are preparing to impose financial penalties on millions of Americans in default on their federal student loans next year, according to five sources familiar with the matter.
The Treasury Department is moving forward with plans to hire private debt collectors, three of the sources said, possibly as soon as November. The sources said those plans are unlikely to be announced before the midterm elections.
I'm not going to yet claim that Trump will deliberately destroy the economy - he's pretty good at doing that with his brilliant ideas without intending to - but I will say that he will happily burn everything down on the way out.
Obviously this particular consideration is in itself corrupt, but it was also true during the whole student loan discourse during Biden's term. People buried by student loans are mostly not who The Discourse imagines them to beLast year, Treasury officials expressed concerns that too aggressively pursuing these measures could hurt low-income borrowers, two sources said. Staff also said they pointed out to senior Treasury officials that scores of Trump supporters would be seriously hurt by going after the wages and benefits of workers who are in many cases struggling to hold onto their jobs. Their message was, “This is not who you think it is. The demographics are not good for us,” one source said.
