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I know that people already commented of previous articles wanted to know how people feel about it in a discussion forum
I know it all started with trump but in actuality it was the democrat controlled house that put it in the coronavirus bill
Personally I view it as the destruction of America from the inside but hey I have a lot of student loan debt
This is how Democrats buy votes.
… with pubic funds (not their own.)
The Democrats have always been the party of patronage and handing out goodies to supporters. The Republicans (and the Whigs before) them have always been the party that preferred a government that respects merit more than identity and supports creating a pro-business climate. Both parties have a history of tolerating larceny. This all goes back at least to the period of John Quincy Adams and Andrew Jackson, and has been amazingly consistent (even while views on race or foreign affairs have shifted).
Medical Debt,
Mortgage Debt,
Bail/Incarceration Debt,
Education Debt.
Republican’s love to keep people in debt.
Until they gamble and lose and then Bankruptcy.
Or on a national scale – the 2009 WALL STREET BAILOUT.Outrageous embezzlement and corruption – using public funds to directly pay large sums of money to potential voters right before a losing election.
CNBC public poll:
28% wants all to be forgiven, 31% “only for those in need”. Given that this forgiveness is more than just “those in need”, seems like 40-50% will support this. Dems are divided 44% to 44% between those who want to forgive all and those for “only in need”, so this is a compromise between two dem fractions. 60% of R-s want no forgiveness. Independents are way closer to Dems here (21% no forgiveness, other 2 options about equal).60% of Americans are concerned that student loan forgiveness will make inflation worse. (80% of Rs, 40% of Ds, and 55% of Is).
Interestingly, 23% of all borrowers increased their other spending during forgivenes pause and ….
40% are not sure what the approximate interest rate is on their loans (only 30% of Rs who seem to be better in counting their money).CA,
I don’t think you mean the national debt.
The national debt increased by almost 36% during Trump’s tenure
Republican candidate Donald Trump promised during the 2016 presidential campaign that he would eliminate the nation’s debt in eight years.
The national debt stood at $19.9 trillion when President Trump took office in January 2017, and it reached a high of $27 trillion in October 2020.
Jackk,
there is no national debt, USA Inc is an LLC, passing through the income and less to each of us.Passing money back to the original taxpayers in the form of reduced taxes is not a problem, it is simply decreasing the LLC overhead and letting people invest where they want themselves.
Obama went from 68% debt-to-GDP to 105% during supposed recovery. Trump went from 105% to 107% first 3 years and then jumped to 129% in the covid year. everyone supported his spending that year. Biden continued a lot of those decisions even into times when they are arguably are not needed any more, such as eviction moratorium and student debt postponement.
jackk> Republican’s love to keep people in debt.
Until they gamble and lose and then Bankruptcy.Jackk, you are right, the American system is corrupt and we should all move to USSR where government kindly cancelled all the debts, together with bankers and gamblers. Oh, wait, no, it is not better there – how do you explain THAT!?
Jack, in 2009 the Democrats were running the government.
Jackk what a shill comment to make. Republicans don’t “keep people in debt” – people keep themselves in debt. What the Republicans won’t do is force you to pay off my debt.
ujm is right. Buy votes with your own money, not public money.
Sort of hypocritical that some of those who identify with and support frum communities that have the HIGHEST rates of welfare dependence in NY and NJ and feel no guilt about taking tax money from others to support their families are nonetheless complaining about social welfare transfer programs that benefit others in need.
Gadol > social welfare transfer programs
Social welfare? I thought it is inflation reduction 🙂 If I can speak for all (200 mln) of us, this is very grating for some many reasons:
it is a transparent giveaway of common funds to interest groups, timed to elections, attempted to look like benign: President before said that he will consider “up to 10K” – so the headline is 10K, then another 10K for many, then another several perks, some with special preferences for government workers, so that nobody really knows the price and details, without Congress, with insane moral hazard and unfairness, and zero positive effect on improving future policies.
It is beyond anything King George was accused of, more like late Roman Emperors who were increasing Legions’ pay to keep them happy.
Gadol,
there is a real problem here – uneducated masses would improve their life by better education and they may or may not achieve that by going to college and then having debt (after also getting grants).Let’s see what would be a reasonable “investment”:
– identify productive majors and schools based on school previous track record.
– before someone goes to school, provide him low-cost subsidized insurance: if someone goes into an approved school/major and then does not succeed, then his loans are partially forgiven.
This would let people take (reasonable) personal risk, benefit if they succeed and not be total losers if they don’t.There is also a private market solution, that there are some limited experiments on:
– investors pay for school (partially or fully) in return for a percentage of future earnings. These could be school themselves or separate investors.
Not sure how easy to push this further given all the giveaways.Can our dems friends explain how they relate to:
1) Biden breaking his promise that he will provide relief “up to 10K” per person, as the actual help seems to be 2-3 times larger. He actually tried to make it look like 10K by dividing it in 2 parts – 10k for everyone under XK, plus 10k for pell granters, plus less payments for everyone under XK, plus dismissal of interest for 2 years already.
2) Biden cheating Manchin – the BBB was reduced by a trillion due to inflation worries, took a year to agree to that, even called it “inflation reduction” (i.e. we are not increasing it). but then he spends another $0.5-1T on student loans. Can Manchin still get mad or is it too late?
3) Biden spokesman claiming that this action “is paid for” because overall government spending is less this year as there were huge Covid expenses. Obvious joke, and also at the same time reducing covid spending, such as stopping sending free tests.
I’m general debt can be divided into two groups- healthy debt and unhealthy debt. Taking out student loans that will increase a persons earnings by $4,000 a month while the person pays $500 a month in student loans for six years is a healthy debt. Taking out student loans for a degree in gender studies where the student will stock shelves at Walmart for $15 an hour while owing $3,000 per month in student loans is unhealthy debt.
Republicans aren’t trying to keep people in debt per se, they’re trying to make people take responsibility for themselves so the Government can take a step back. There’s only so much help the Government could provide if everyone threw the burden of their bad decisions onto the Government.
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