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Student Loan Debt Casts Wide Shadow on San Diego Economy

Student Loan Debt Casts Wide Shadow on San Diego Economy

NBC 7 San Diego

When people choose not to spend money, retail stores sell less merchandise and restaurants have more empty tables. 

“When restaurants take in less money, they hire fewer workers, and that, in turn, hurts other businesses,” explained Alan Gin, Ph.D., professor of economics at the University of San Diego. 

Gin calls it the “ripple effect”: when San Diegans spend less for food, clothes, cars and home furnishings, those businesses are pinched, and their shrinking revenue, in turn, slows the growth of other businesses.

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