This is the Ramsey Call of the Day, part of the Ramsey Network.

Today's question comes from Michelle in New York.

With student loan payments starting again soon, I'm hearing a lot of people talk about an unintended consequence will be a big hit to the economy.

With that money going to

student loan payments instead of being spent at retailers, they're saying maybe this could drive us

into a recession. Do you see this happening? No, it's not enough money. It's not big enough

relative to the size of the gross domestic product, the GDP. So there's not a big enough tail here to wag

this dog. So mathematically. So I, no, I don't see that happening. And let's just say it did.

Walk us through that. So what? Like these people don't need to pay their bills, just because we

might face her, no, absolutely, no.

So, and here's how we also know it didn't create a recession.

Did you notice that have it, that all these people having all this money to spend did not cause a boom?

That's true. If you had an extra 400 bucks, with the payment cost.

It wasn't enough money to cause an economic boom when they were all

blowing it on vacations. As a matter of fact, one study came out last week, or Jade and I were

reading this the other day came out and said that like 80% of the people spent all the money

on vacations, retail, drugs, and alcohol. Wow. And even, well, I mean, if there's a recession in the

cocaine area, that's probably okay. I can deal with that. If there's a little, if there's a little

crack recession, I think we can handle that part. But I'm thinking the alcohol retailers are

probably okay. They made enough money during COVID to last them

about 10 years. Oh, they made out like a bandits on that.

Man, it was the big, I mean, remember the wine bottle stacked up in the pictures of that at the curb

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