The idea of increasing spending right now, while the country is arguably in the worst financial shape it has ever been in, is simply unconscionable.
lets not forget that Universities may see this as another reason to increase tuition. If students know the govt will eventually forgive a portion or all of a student loan- whats to keep them from increasing the prices.
Many new people will apply for loans expecting them to be forgiven in the future. This IS pure vote buying. Typical Democrat move.
Pretty sure we passed up the "moral hazard" phase a few billion miles back. This is about vandals doing as much destruction to the church as they can before they are permanently barred from entering. If, next week, these idiots declared that all dog owners should receive a free one year supply of Alpo, we should all yawn and focus on permanently & forever ridding ourselves of them. The Democrat Party is going to be crushed out of existence and no amount of giveaway schemes, engineered viruses or food supply chain sabotage is going to help them.
Inflation is totally out of control. Never before have votes cost $10,000
QTR just mad he has to pay my student loans lol...
As "nice" for me it is, this piece is facts, they should have no right to these redistributive policies.
There has to be moral hazard for bad choices. I had student loans of $17k in 1981, paid them all back with interest. 2d generation American 1st in family to graduate with an advanced degree. Worked all the way thru. Partied a TON (Go Gators, they were 0-10-1). Worked my ass off (well it wasn't really flat) and went to law school, what else does a Poli Sci major do. Knocked on 100 doors wrote onto law review where all the Alpha Hotels were humble bragging about going to Greenberg Traurig or Holland and Knight with starting $35k jobs. I took the one offered, $15k before passing Bar, $17.5k after. Still working a lot at 65 with 3 kids who are Bar members 2 work with me one is district director for a Moderate D congressman. I know we only redistribute wealth, I should have gone into HVAC. Maybe. Reminds me of the guy with troubles with money asked his Priest (works with any religion) Padre, I'm in deep debt and problems, what do I do. Priest--go open the Bible, read what it says and do it. 2 months later guy is driving a new car jaunty and says "Padre, I wanna thank you! Priest says, this is indeed a miracle, tell me what did you read? Guy: "Chapter 7!!" Let them file. Answer to creditors who thought the loans were bulletproof: You trusted us, you fucked up!
PS I pay a shit ton of taxes and don't begrudge doing so. If the money wasn't pissed away on Pentagon White Elephants, vote buying and building real infrastructure, I'd pay more. I'm not comfortable, Ich macht du leben...
QTR points out ever wrong with this plan. I would go a step further: when did the government actually solve a problem effectively.
The Obiden administration's economic policies are doing exactly what they were intended to do: Completely destroy our economy along with millions of lives so we'll be desperate and hungry enough to accept fascism as our savior.
Apres moi, the deluge, motherfuker....
As a recent retiree from a federal regulatory agency that paid off moral hazard losses twice in my career. Student lending is the worst program the govt could be in. Take a kid who could not qualify for a used car loan and give him a student loan. The car loan was at least short and if they couldn't pay they lost their car. Can't pay a student loan and the balance grows to ensure you can't pay. I don't like paying them but they need some solution to wipe these loans out and get the govt out of this business. The colleges needed an active role and skin in the game. Colleges gorged themselves like pigs at a trough with college expenses consistently one of the highest categories of inflation every year. The vast majority of student loans are subprime at origination. The govt has no business originating subprime loans. As a reminder, if the govt creates the moral hazard, they ultimately end up paying.
Just some thoughts.
Instead of having taxpayers pick up the tab, why not have the Universities refund tuition to the students they conned into paying $200,000 for a Liberal Arts degree?
The Sheer Stupidity Of Student Loan Forgiveness... At least it is never a sheer stupidity to forgive the Bank Loans!
The Democrats actively working to destroy what the US has been to "reimagine" the country as they believe it should be.
This is treason. There are no two ways about it. They are causing pain, hardship and division with the intent of gaslighting the public into believing all of this way caused by an evil troop of rich white guys that need to be "dealt with".
I would agree that the main purpose of this is a last minute vote grab. Most people will not see this as you do as they are more than happy to take money for nothing and could care less about the consequences. Hmm, I paid off all the loans I took out for my kids, do I get reimbursed, Joe????
Linking today @https://nothingnewunderthesun2016.com/
Student loan forgiveness is rayciss. It disproportionately favors hwites at the expense of BIPOC.