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Posted on 10/4/23 at 9:31 am to Pezzo
I would much rather tax dollars go to helping Americans than the billions we're pouring into the Ukraine.
Posted on 10/4/23 at 9:34 am to robinette
quote:
Yeah let's worry about $9 billion to help Americans and ignore the $7.8 TRILLION trump added to the national debt. Really got your priorities straight here....
How much of that was associated with Covid?
Posted on 10/4/23 at 9:38 am to SlimTigerSlap
quote:
I don't know if I would call having to saddle oneself in debt in order to attend college fortunate.
You don’t. But no one wants to go to 2 year colleges first because they “want the university experience”. That would drastically cut down what would be owed.
So you can take a gap year between high school and college to work and save, take two years of JUCO while working part time, and then go to university.
There… I just cut 10s of thousands off someone’s loans for the exact same degree.
Posted on 10/4/23 at 9:41 am to CleverUserName
quote:
Wahhh!! Wahhh!!! Why doesn’t the dollar go as far as it did for my parents? Wahhh! Wahhh!”
It’s a huge problem when people my parents’ age decide what a fair salary is. When I was 22, $50k / year was good (not great) money. Now at 38yrs old, the people who decide salaries still think that’s good but not great money. It’s borderline poverty these days if you want to live a good (not great) life.
Wages have not increased remotely in line with inflation and other baseline costs of living in the USA. It’s a big problem. Some of it is self inflicted by the individual markets sure, but most of it is not.
Posted on 10/4/23 at 9:41 am to SlimTigerSlap
I'm not in favor of forgiving college debt. Instead, since the government helped create the inflation that led to the student debt crisis (by guaranteeing loans and increasing the money supply available to colleges), I favor lowering interest rates on the loans to a nominal amount. Require repayment, but don't penalize borrowers for the inflationary spiral the government itself created.
That said, if this new gimmick by Biden is simply another welfare program where low income borrowers get loans forgiven, but middle and upper middle class borrowers end up being the only people who owe them, then lets have complete forgiveness. The unequal treatment our government foists on certain groups needs to end.
If bad choices are all we have, then forgiveness for all is better than special treatment for some but hardship for others.
That said, if this new gimmick by Biden is simply another welfare program where low income borrowers get loans forgiven, but middle and upper middle class borrowers end up being the only people who owe them, then lets have complete forgiveness. The unequal treatment our government foists on certain groups needs to end.
If bad choices are all we have, then forgiveness for all is better than special treatment for some but hardship for others.
Posted on 10/4/23 at 10:09 am to Powerman
quote:
Of all the things we can waste money on this one isn't exactly the worst
I disagree.
It teaches people (further) that they are not responsible for their decisions.
It also benefits people who shouldn't need taxpayer bailout money. If you look at the statistics, 60% of the people who would get loans forgiven already have bachelor's degrees. They have masters degrees or multiple bachelor's degrees.
So a lot of the people paying the loans back won't even have the earning potential of over half of the people they are bailing out.
That's toxic as hell IMO.
This post was edited on 10/4/23 at 10:11 am
Posted on 10/4/23 at 10:16 am to SlimTigerSlap
quote:
I don't know if I would call having to saddle oneself in debt in order to attend college fortunate.
Nobody has to saddle themselves in debt.
First of all, nobody is forced to go to college. It's actually not that great a ROI anymore unless you go into certain specific majors.
Second of all, the military will pay for anybody to go to college in return for a few years of service. That option is open to anyone who wants to take advantage of it.
Posted on 10/4/23 at 10:22 am to Powerman
quote:Punishing the folks who paid their loans off isn't exactly the best either.
Of all the things we can waste money on this one isn't exactly the worst
Posted on 10/4/23 at 10:25 am to Powerman
quote:
Of all the things we can waste money on this one isn't exactly the worst
Yeah, let's just continue to remove accountability from our culture because it's really been a winner policy.
Posted on 10/4/23 at 10:27 am to Pezzo
Where was this level of outrage from Republicans when corporations and politically connected NGOs were getting their PPP loans forgiven?
That's why this student loan stuff is a trap.
That's why this student loan stuff is a trap.
Posted on 10/4/23 at 10:29 am to Powerman
quote:
Of all the things we can waste money on this one isn't exactly the worst
ITS A frickING LOAN YOU STUPID PIECE OF shite. JUST BECAUSE YOU OR SOMEONE YOU KNOW BENEFIT FROM IT DOESNT MAKE IT A GOOD USE OF MONEY, ITS THE SAME SIMPLE CORRUPTION WE FAULT OUR POLITICIANS FOR. INSTEAD YOURE A LITTLE SLUT FOR $5k YOU TOOK OUT, RECEIVED THE BENEFIT OF, AND PROMISED TO PAY BACK, WHILE SEEING THE RETURNS IN YOUR EDUCATION.
Posted on 10/4/23 at 10:30 am to Pezzo
If students can't repay the loans, stop writing them.
I'd actually be fine with a debt forgiveness accompanied by a total cessation of federal funding for student loans, if that could ever be agreed to and enforced.
I'd actually be fine with a debt forgiveness accompanied by a total cessation of federal funding for student loans, if that could ever be agreed to and enforced.
Posted on 10/4/23 at 10:34 am to BeepNode
quote:
Where was this level of outrage from Republicans when corporations and politically connected NGOs were getting their PPP loans forgiven?
That's why this student loan stuff is a trap.
I can't speak for Republicans and don't like them much, but PPP was a massive fraud and transfer of wealth. It was a classic example of using a "crisis" to steal a bunch of money for insiders, elites, and the connected.
Posted on 10/4/23 at 10:34 am to Pezzo
So we are not going to collect $9B in the future, and since clearly we have no interest in reducing spending, we are just going to need to borrow $9B more in the future to account for that lost future incoming cash flow.
That's like, what, a week total of deficit spending?
That's like, what, a week total of deficit spending?
Posted on 10/4/23 at 10:36 am to TigerIron
quote:
I can't speak for Republicans and don't like them much, but PPP was a massive fraud and transfer of wealth. It was a classic example of using a "crisis" to steal a bunch of money for insiders, elites, and the connected.
and it was like $800 billion.
Posted on 10/4/23 at 10:37 am to BeepNode
quote:
Where was this level of outrage from Republicans when corporations and politically connected NGOs were getting their PPP loans forgiven?
Everyone knew the PPP wasn't a "loan" but it was just a giveaway structured like a loan to give the feds time to reimburse the banking system.
Which means, the people who are fine with a government giveaway here, but not with a government giveaway for higher ed, are completely and utterly suspect.
Posted on 10/4/23 at 10:46 am to wackatimesthree
quote:
Nobody has to saddle themselves in debt.
First of all, nobody is forced to go to college. It's actually not that great a ROI anymore unless you go into certain specific majors.
Second of all, the military will pay for anybody to go to college in return for a few years of service. That option is open to anyone who wants to take advantage of it.
What does any of that have to do with my take on the word fortunate?
Posted on 10/4/23 at 10:50 am to Pezzo
Talk about enabling irresponsibility.
Posted on 10/4/23 at 10:56 am to SlimTigerSlap
quote:
I don't know if I would call having to saddle oneself in debt in order to attend college fortunate.
I went to college and graduated with zero debt. I didn't take out loans. Had zero help from my parents outside of making the choice to go to a college near my hometown so I could commute and live with my parents until I graduated. My school was about 3k a semester. I worked 2 separate jobs part time that equaled to about 40-45 hours each week while taking 15-18 hours a semester. It was really hard and I didn't really get to have the "college experience" but it helped me develop a work ethic that I didn't previously have from breezing through high school. IMO college students are too quick to try to live a comfortable life and use loans to subsidize that. They avoid the struggle and I feel sorry for them because they are missing out on some character building life lessons.
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