President Biden "Forgivs" School Debts

[Lucas McCain]

Yeah, you are right, Jaccuzme. When you really think about it, if you are getting an undergrad degree now, $10k probably just covers books for 4 years and one (probably at most) year of rent (depending on how many roommates you are willing to put up with and where you live).

Originally Posted by Tiny

And I'd a lot rather see support for education that gives people marketable skills, like plumbing, nursing, engineering, etc., rather than government subsidized loans for education in the liberal arts and the like.

My kids don't know yet where they are going to college but my youngest said she wants a degree in sociology wherever she decides to go. I laughed while thinking to myself that there is no way in hell I am paying for that useless can't get a good job shit degree. Unless I am gravely mistaken about her athletic prowess, she is not going to be playing in the NFL, NBA, MLB or NHL to be afforded the luxury of that type of worthless degree. I might as well just save my money and she can go work at Arby's sooner rather than later.

[Tiny]

Originally Posted by Lucas McCain

Yeah, you are right, Jaccuzme. When you really think about it, if you are getting an undergrad degree now, $10k probably just covers books for 4 years and one (probably at most) year of rent (depending on how many roommates you are willing to put up with and where you live).



My kids don't know yet where they are going to college but my youngest said she wants a degree in sociology wherever she decides to go. I laughed while thinking to myself that there is no way in hell I am paying for that useless can't get a good job shit degree. Unless I am gravely mistaken about her athletic prowess, she is not going to be playing in the NFL, NBA, MLB or NHL to be afforded the luxury of that type of worthless degree. I might as well just save my money and she can go work at Arby's sooner rather than later.

Encourage her to pursue an MRS at the same time she’s getting her BA in Sociology. Maybe hang around the medical school. Anesthesiologists make the best husbands. She should stay away from the gynecologists. Also the urologists, they’re all gay.

[WTF]

Originally Posted by Tiny

Yes, Jimmy Carter did a world of hurt to this country

Yet student-loan forgiveness of any kind is highly regressive, benefiting those who graduated college at the expense of the roughly 60% of Americans who didn’t. An analysis released on Tuesday found that roughly 42% of the benefits of student loan forgiveness would go to the wealthiest two-fifths of Americans, with the bottom fifth receiving just 12%

.

Now there you go again....it wasn't Carter that increase the regressive tax to cover his massive increase in spending!

[ICU 812]

Originally Posted by 1blackman1

Of course it does. It’s your belief that the govt shouldn’t forgive loans because people should not take loans and don’t pay them.

Well, hypocrisy is on display to be sure. But I think what I was trying to bring forward was the inflationary pressure from this action. These loans are not "forgiven" in that they do not just go away. The debt is assumed by the federal government. this means that the treasury issues bonds (debt) and the Fed "buys" these bonds by printing money. In this case, the amount of new money will be something above three hundred billion dollars.

That money enlarges the money supply; it inflates the money asupply. . . . devaluing the purchasing power of the money people already have. When the value of each dollar goes down it takes more money to buy stuff and prices go up.

The effect of loan "forgiveness" in the economy is what Iwas trying to discuss, not hypocracy.

[ICU 812]

Lucas McCaine: Parenting is common ground regardless of politics. I hear you on the sociology major thing.

Our son was a pre-law major (+). Entered the Marines on graduating (-) and spent time in Iraq. Out, he was a project momager for a major construction company (+). . .then stopped working for two years, lived on his savings, and went to seminary! Now he is paster at a struggling Baptist church (+-?)


Finding your place in life can be straight-forward or often a twisting path. And its often hard to advise a child as to what to do and how to get there.

[1blackman1]

It’s got the same effect as other govt programs such as farm subsidies, PPP forgiveness, tax decreases, oil company subsidies, tax programs which allow companies to write down huge amounts of taxes, etc. At the end they all have the same result - govt debt and deficits. You can’t be for one type and against others unless you’re a hypocrite. Stop trying to create something negative from one group while ignoring the same effect for other groups.

Either be against everything that creates govt debt and deficits or shit up the whining.

[Brot]

This is a bullshit move by our government and a big fuck you to all the Americans that took out College debt and paid it back in full.

The answer in my opinion is to let people file bancruptcy. That and pursue recovering our monies fleeced from the program by scam schools the likes of Trump University.

[1blackman1]

The republicans made school debt nondischargeable from bankruptcy.

[Tiny]

Originally Posted by 1blackman1

It’s got the same effect as other govt programs such as farm subsidies, PPP forgiveness, tax decreases, oil company subsidies, tax programs which allow companies to write down huge amounts of taxes, etc. At the end they all have the same result - govt debt and deficits. You can’t be for one type and against others unless you’re a hypocrite. Stop trying to create something negative from one group while ignoring the same effect for other groups.

Either be against everything that creates govt debt and deficits or shit up the whining.

You make a lot of sense until you say “tax decreases.” Cut out the pork, the waste, and expenditures that should occur at the state and local level. And leave more money in the hands of the people. And the private sector, the engine of growth and jobs in America.

Overall, kudos for the post. I’m focusing on the one thing I disagree with. You’re spot on with the rest IMO

[distanceswimmer]

True!

[WTF]

Originally Posted by Tiny

You make a lot of sense until you say “tax decreases.” Cut out the pork, the waste, and expenditures that should occur at the state and local level. And leave more money in the hands of the people. And the private sector, the engine of growth and jobs in America.

Overall, kudos for the post. I’m focusing on the one thing I disagree with. You’re spot on with the rest IMO

You just can not get over paying for things citizens want can you.

What we should do is raise taxes after every give away....see how soon these give aways dry up!

How much PPP money would have went out if we said "that'll be an extra 2k in taxes this year!"

Or wars.."That will be an extra 50k in taxes for the next 10 years!"

I'm telling you, Reagan has possessed you like Linda Blair in the Exorcist!

Let's cut taxes and keep spending on the orphans in Florida

[1blackman1]

Originally Posted by Tiny

You make a lot of sense until you say “tax decreases.” Cut out the pork, the waste, and expenditures that should occur at the state and local level. And leave more money in the hands of the people. And the private sector, the engine of growth and jobs in America.

Overall, kudos for the post. I’m focusing on the one thing I disagree with. You’re spot on with the rest IMO

Should be at a local level. In an ideal world sure. That’s not the govt we have so you complaint is idealistic rather than realistic. Cutting taxes never cuts programs, all it does is create debt. No matter who you blame for that, the end result of debt and deficits related to tax cutting. If we really wanted to get our house in order, republicans when they were in power (since they all fiscally responsible in your mind) could have made 20-30% across the board govt cuts when they cut taxes. However, they didn’t do that. They didn’t cut any govt costs and ran up higher deficits and debt.

If republicans were really about fiscal responsibility why haven’t they actually cut govt. the closest we’ve had was sequester during the Obama years but that was more a right wing temper tantrum than some planned govt reduction.

[Tiny]

Originally Posted by WTF

You just can not get over paying for things citizens want can you.

What we should do is raise taxes after every give away....see how soon these give aways dry up!

How much PPP money would have went out if we said "that'll be an extra 2k in taxes this year!"

Or wars.."That will be an extra 50k in taxes for the next 10 years!"

I'm telling you, Reagan has possessed you like Linda Blair in the Exorcist!

Let's cut taxes and keep spending on the orphans in Florida

The "like" was for the Linda Blair part. The rest of the post is garbage. I'd a lot rather be possessed by Ronald Reagan than Bernie Sanders.

I can't believe you'd let the poorest children in Florida go to bed hungry. That's not the WTF I thought I knew.

I do give you credit for being on the right side on this issue, the changes in the student loan program. I think. It's hard to tell because you're being awfully coy. If DeSantis had proposed this I know you'd be complaining louder than I am. This is going to cost 20,000 times more than what DeSantis spent on the poor children in Florida.

[Tiny]

Originally Posted by 1blackman1

If we really wanted to get our house in order, republicans when they were in power (since they all fiscally responsible in your mind) could have made 20-30% across the board govt cuts when they cut taxes. However, they didn’t do that. They didn’t cut any govt costs and ran up higher deficits and debt.

I actually agree. The 20% to 30% straight off the bat would have been excessive, but making significant cuts and setting us on that path would have been great.

For me it's a matter of who's worse. Politicians in both parties want to spend too much. Democrats want to spend more. For example, most Congressional Democrats supported a $3.5 trillion Build Back Better Bill. Some supported the $6 or 7 trillion version that the Chairman of the Senate Budget Committee, Bernie Sanders, originally proposed.

Coincidentally, Bernie Sanders has possessed WTF, like Linda Blair in the exorcist.

[Jacuzzme]

Originally Posted by Lucas McCain

if any candidate comes up with a plan for me to pay my ex less in child support, I'd definitely vote for that motherfucker in 2024 and 2028.

What a terrific (deadbeat) dad. Fuck those kids, let ‘em eat grasshoppers.