What Would the GOP Candidates do to the DEBT? Find out Thursday at CRFB

President Obama’s campaign made a splash this morning with their claims that Rick Santorum and Mitt Romney would dramatically increase the national debt as president.

We’re excited to see budget issues take center stage in the 2012 election. To help inform the discussion, the Committee for a Responsible Federal Budget has compiled the first comprehensive analysis of the budget impact of campaign proposals made by the Republican presidential candidates (with an analysis of President Obama’s plans to follow shortly). This will be the first detailed, non-partisan assessment of how the platforms of Newt Gingrich, Ron Paul, Mitt Romney and Rick Santorum would affect the national debt.

Please join us on Thursday, February 23 from 9:30-11:00 AM for the release of Primary Numbers: The GOP Candidates and the Federal Debt, as well as a conversation about how this election can promote a constructive debate on the fiscal challenges facing the country. Breakfast will be served.

Click here for more event details.

To RSVP, contact Emmanuel Holder at holder@newamerica.net.

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Recent Student Loan Actions Forgo $5 Billion in Repayments

The Department of Education announced last week a six-month extension of automatic forbearance to all borrowers enrolled in the SAVE income-driven repayment plan while it is being challenged in courts, adding that they will forgive any unpaid accrued interest during that time. We estimate that the Department of Education is forgoing roughly $500 million of repayments per month, meaning that this extension would result in $3 billion in forgone payments, bringing the total amount up to $5 billion. Importantly, much of those payments will instead be paid later, and so the net cost would be some fraction of that $5 billion.

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