I just read in the Financial Times that the cost is around $35B a year in lost payments to the Treasury. In my opinion, that cost is pretty negligible in terms of moving the needle on the macro level of our GDP. It's like a rounding error with a government (I'm not accusing you of approving here, just doing some math) that has been running over $2T in deficit spending annually for almost 6 years. Now if you argue, "You gotta start somewhere, it's a valid point in terms of fiscal philosophy," but if the point is that somehow $35B is going to impact much of anything, I'm just not buying it.

At any rate, I'm ok with the debt forgiveness--and even if I weren't for some philosophical reason like people need to pay back what they borrow, I have much bigger fish to fry around that particular philosophy.