The White House Coucil of Economic Advisors used to be an independent group of scholars and economists who were supposed to give the president non-partisan advice on economic issues. But during the Obama presidency, the Council has become a slave to the political agenda of the White House. To that end, the learned men and women on the Council have issued a report that unsurprisingly claims that the massive student loan debt held by graduates is actually a good thing because it boosts the economy. Student loan debt has nearly doubled under President Obama, from $664 billion to $1.3 trillion. So how does being buried under a mountain of debt help the economy? It doesn't. Washington Free Beacon: “The main macroeconomic impact of student loans, particularly over the long run, is via the boost to output and productivity from a more educated workforce,” the report stated. “While it is still important to monitor in overall leverage, on net, student...(Read Full Post)