this will not backfire, It will only increase in time, Our founding fathers are doing the twist in their graves, They gave us a great govt, envy of the world, now most want to go to socialism ! Why ? Where has socialism ever worked ??? EVER ?? What is wrong with Biden Voters, Democrats, A lot of folks on east and west coasts ??? Especially you folks on the east coast ??? Our founding area of United States, You know Tea Party etc. Now you are the country of GIVE ME !!! The gov,t should take care of me ! The Gov,t should take care of my Children, Get rid of Police ! Leave me out of jail, Its not my fault, Iys the Gov,ts fault, YUP good Ole USA on the way out !!!
The ability of the President to just wave a giant political wand like this is insanity. It is quite king like and should be attacked by every political party as being an abuse of power. I do not agree with these types of powers at all.
Mn, you are a good guy. Our bozo President offered this up and you are taking advantage of it as a taxpayer. I don't blame you one bit even though I don't agree with the President.
The federal goverment subsides many industries. Boeing got a pile of tax payer money, lots of Blue Collar workers who benfited, I am sure some here benfit from taxpayer subsidies. GM still gets a pile of money as does the energy industry and housing, which all benefit blue-collar workers. Go take a list of who gets the money.
all true, but there is a huge difference between a waiver of personal debt and a tax break. I have no issues with being able to write off the interest on student loan payments, and did so myself until I exceeded the income limit. Doing so doesn't take money out of the pockets of anyone else.
Maybe if we got rid of student loans people would save and make better decisions about their money. For sake of discussion why as a taxpayer and someone whose, wife, kids, and I did not need government-funded loans for education, perhaps this move would lower the cost of college. I mean why should we hard-working savers float folks a loan when they did not have the smarts to save? FYI for argument only
The fat tub of fecal matter also extended his emergency powers for Covid for the 33rd time. Nearly 3/4 of his term has been had using his self granted powers. Plus the imbecile is entertaining a Presidential bid, imagine the powers he/they would grant themselves.....
At the end of the day, government subsidy of students loans needs to go away entirely. Expecting kids who just graduated from high school to understand what they are signing on for is taking advantage of those who have not yet been in the real world long enough to understand what they are doing. I was that way 20 years ago when I went to college. Knowing what I do now, I would rather my kids learn a trade and go to work immediately than waste four years or more in college if it means going into debt to pay for it. Fortunately, I grew wiser and paid cash for my master's degree. That difference immediately made my master's worth it in terms improved income upon completion of the degree. The undergraduate degree did not lead to any substantive financial gain compared to direct work experience until three years after graduating when I was almost done paying off the loans. The monthly cost of loan payments dropped my income to the levels of my friends who did not go to college until I paid the loans off and freed up the cash from the payments.
I agree, but isn't one of the big issues parents living beyond their means? What kind of parent thinks it's okay to saddle their kid with 5 or 6 figures of debt and that's a good idea at the very start of their life?
When I started college in 1984 I had a deal with my parents they paid for half I paid for half. I worked summers and all breaks and covered it. Simply not possible in this day and age with the cost of college.
Is that not the issue of the loans, it's too easy for parents to say "They can just get a loan". With money so easy to get colleges to jack up prices. I took a beating from my wife for "making her" love in a 1400 sqft house for 20 years.
Loans are too easy to get thus the cost of college is expensive because high school graduates have no concept of what the loan will cost in the long run.
Why enter into a contract, if your not going to meet the terms? Is it 'fair' for someone to offer to buy your house for x, but then pay you 75%? Putting my capitalist hat on...If private loans are included, a shareholder of equity in that company was also effectively diluted, unless the company was given recourse. More inflation/tax write off=taxpayers effed or shareholders/investors effed. Which is it?
Absolute not, just like it's not fair for banks to buy all that bad debt and we bail them out, the point of devil's advocate here is what is your line in the sand?
1. Banks paid back all bailout money + interest...Fed actually made money. 2. I was called "barbaric", at the time, when I said it wasn't the government's place to bail out banks. Regardless, more regulation came out of the 2007-8 debacle. My line is the constitution. Student loan, mortgage, bank bail out, none of it is there...I'll cede the interstate commerce and taxes which could be necessary...but much too much over reach. We're now aggressively moving from democratic republic to socialism. Damn shame.
Absolutely, last week my oldest asked me why I don't drive a newer vehicle than my 22 year old Jeep, I told him that is was so I could afford to send him to private school and save a little to help with his future college tuition. The Little Rock public school system is one of the worst rated districts in the state. I couldn't do that if I drove a newer vehicle that required a car payment to afford it. Its an easy call for me to make because it is more important to me to invest in building the future for my kids than to drive a new car.
BTW - in the distractions category: Last couple Zaporizhhzhia reactors knocked offline in UKR. Cooling being run by generator. Light water reactors. Likely not enough diesel available till they cool. Russia to increase their military by 130k...possible conscription. NK has already provided/deployed troops for the special military action...msm hasn't said much about that. Gazprom to shut off Nordstream for '3 days of maintenance' next week. Fed models revised 3Q GDP downward and probability of rate hike upward, yesterday. Pelton took a big loss and signed a deal with Amazon. Expect pressure on the MAGA stocks as utilities are unable to provide enough power for new data centers...but go ahead with your electric vehicles. Corn & soybean prices going up as the 'crop was/is poor'
As I said- They pulled this student loan schite KNOWING it would set off a firestorm, and have in my opinion a negative effect on public opinion... It's a distraction. Worth thinking about, sure; but what's the Other Hand doing?
