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Message
Debt payoff instead of stimulus checks?
Posted on 3/23/20 at 6:52 pm
Posted on 3/23/20 at 6:52 pm
Listened to a fella on Shreveport radio float this idea..also included the link.
Instead of spending 2 trillion on stimuli and bailouts, negotiate with creditors...specifically auto, credit card, and student loans, who usually take .50-.70 cents on the dollar, and pay everyone's debt off for damn close to the sane thing this bill is about to cost.
This would stimulate the ecomony, open up immediate discretionary spending for both consumers AND small business.
And you know dang well the auto industry would explode once everyone has equity to trade in.
Interesting theory, and seems like it would go a LOT further than what's proposed, at least on face value
keel news
Instead of spending 2 trillion on stimuli and bailouts, negotiate with creditors...specifically auto, credit card, and student loans, who usually take .50-.70 cents on the dollar, and pay everyone's debt off for damn close to the sane thing this bill is about to cost.
This would stimulate the ecomony, open up immediate discretionary spending for both consumers AND small business.
And you know dang well the auto industry would explode once everyone has equity to trade in.
Interesting theory, and seems like it would go a LOT further than what's proposed, at least on face value
quote:
US Credit Card debt is around $1 trillion
Student Loan debt is around $1.5 trillion
Auto Loan debt is about $1.3 trillion
keel news
16
Posted on 3/23/20 at 6:54 pm to SportTiger1
quote:
Student Loan debt is around $1.5 trillion
frick them. smart enough to go to college, should be smart enough to pay it off. I hate hearing muh student debt
Posted on 3/23/20 at 6:55 pm to SportTiger1
I look forward to shopping for a $75,000 Nissan Altima.
How about the other way - businesses and individuals directly affected can get stimulus.
How about the other way - businesses and individuals directly affected can get stimulus.
Posted on 3/23/20 at 7:02 pm to momentoftruth87
quote:
frick them. smart enough to go to college, should be smart enough to pay it off. I hate hearing muh student debt
I feel your pain BUT that money is already gone to the school.....they ain't paying it back....its already been taken from you and I....now if were talking about stopping it NOW thats another story but the money we've already paid to the schools is gone. Forcing draconian collection efforts won't serve anyone.
Posted on 3/23/20 at 7:03 pm to SportTiger1
Some people have $100k debt and others have $0.
By paying off people's debt, only a portion of the economy would be stimulated and the economic boost would be delayed because building up so much debt takes months/years, whereas a flat payment to everyone results in a more immediate and balanced boost to the economy.
By paying off people's debt, only a portion of the economy would be stimulated and the economic boost would be delayed because building up so much debt takes months/years, whereas a flat payment to everyone results in a more immediate and balanced boost to the economy.
This post was edited on 3/23/20 at 7:04 pm
Posted on 3/23/20 at 7:05 pm to SportTiger1
What about those persons who have lived within their means and have no credit card, auto or student loan debt?
They get nothing?
frick that.
They get nothing?
frick that.
Posted on 3/23/20 at 7:05 pm to momentoftruth87
quote:
frick them. smart enough to go to college, should be smart enough to pay it off. I hate hearing muh student debt
I'm crafting a bill for the tax payers in your home state to receive a refund for funding your public education.
Posted on 3/23/20 at 7:07 pm to SportTiger1
Greg Atoms is a transplant Yankee Liberal spreading the liberal talking point.
Posted on 3/23/20 at 7:08 pm to SportTiger1
quote:
Instead of spending 2 trillion on stimuli and bailouts, negotiate with creditors...specifically auto, credit card
Oh, hold on while I trade in all my vehicles and max out all my credit cards. Hell, my 10 year old son needs his first truck so I'm going to buy him one too.
Posted on 3/23/20 at 7:09 pm to SportTiger1
The anc deal is what America needs.
Any employer that had to lay off or furlough employees due to the Chinese virus outbreak can receive six weeks of payroll and fixed costs (business mortgage, utilities, etc.) as well as a $5,000 thank you bonus from America.
Thats it. No baby killing money. No post office bailout. No community newspaper retirement plan.
Any employer that had to lay off or furlough employees due to the Chinese virus outbreak can receive six weeks of payroll and fixed costs (business mortgage, utilities, etc.) as well as a $5,000 thank you bonus from America.
Thats it. No baby killing money. No post office bailout. No community newspaper retirement plan.
Posted on 3/23/20 at 7:09 pm to SportTiger1
Screw that shite. Only debt I have is my mortgage. It won’t help people who don’t have much debt and are missing out of regular working hours and overtime hours.
Posted on 3/23/20 at 7:10 pm to SportTiger1
Hey freeloaders your debt is YOUR responsibility
Posted on 3/23/20 at 7:15 pm to LSURussian
quote:
What about those persons who have lived within their means and have no credit card, auto or student loan debt?
They get nothing?
those persons are likely not to qualify anyway.
i know i dont
Posted on 3/23/20 at 7:15 pm to anc
quote:
The anc deal is what America needs
Where do I sign?
Posted on 3/23/20 at 7:18 pm to SportTiger1
I don’t like the idea, but it’s not the worst idea I’ve ever heard though either 
Posted on 3/23/20 at 7:23 pm to SportTiger1
Only debt I have is my truck note. I’ll take the 1.2k
Posted on 3/23/20 at 7:23 pm to momentoftruth87
Policies for students loans are pretty terrible.
Your statement could be conveyed to housing - smart enough to buy a house, then no refinancing ever. smart enough to save for retirement, then 401ks contributions should be roth 401ks and therefore post-tax only.
Student loan payments need to be pre-tax similar to 401ks. Student Loans need to be eligible for refinance similar to mortgages. These are logical changes.
I understand the position of not wanting student loan forgiveness, but the student loan system is broken and needs changes.
Your statement could be conveyed to housing - smart enough to buy a house, then no refinancing ever. smart enough to save for retirement, then 401ks contributions should be roth 401ks and therefore post-tax only.
Student loan payments need to be pre-tax similar to 401ks. Student Loans need to be eligible for refinance similar to mortgages. These are logical changes.
I understand the position of not wanting student loan forgiveness, but the student loan system is broken and needs changes.
Posted on 3/23/20 at 7:25 pm to Undertow
quote:
Only debt I have is my truck note. I’ll take the 1.2k
Same
Posted on 3/23/20 at 7:26 pm to anc
Yes like the BP Gulf Oil Spill Fund. If you can show you lost business or revenue, you get a check
Posted on 3/23/20 at 7:26 pm to SportTiger1
Total reset. All debt forgiveness. Gold standard. Everyone gets a fixed amount to start with.
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