May 30, 2020
Yesterday Donald Trump vetoed a resolution passed by Congress, which would have left in place rules making it easier for students to default on debt owed to for-profit colleges that had engaged in deceptive marketing practices. The Washington Post told readers that this veto is expected to save the government $11 billion over the next decade.
Most readers may not have a good sense of how much money $11 billion over the next decade is. The government is projected to spend 60,700 billion over this period. That means the savings from this veto will be a bit less than 0.02 percent of projected spending.