m Despite your attempt at an inflammatory headline, it's just an accounting adjustment that refunds over-payments on income-based loans according to laws already in existence. People who made payments on this plan were supposed to have their remaining balance canceled after 20 years of payments, but never did, so they just kept paying even though their debt was finished. It also refunds over-payments to people who served in low-paying public service jobs such as teachers.
What's really ridiculous is Biden showing up in Denver and the governor and mayor bowing at his feet as if he's someone to be taken serious, instead of a mentally defective puppet. He'll be removed and replaced by Michelle before the Democrat Convention.
it depends how. it seems good for some... which is actually unfair and a slap in the face to the principle of equality. why not mine and yours?
how does he convince loan companies to forgive? by paying from tax money. that is awful. as national debt rises faster than under trump. to 33 trillion. see my mytake. he did NOT inherit 33t instead was less at end of trump term. but in one term biden grew debt as much as obama in two terms.
Ho ho ho... Merry Christmas.
that true? sounds sensationalism...
"Pay no attention to the man behind the curtain"...
"I'll gladly pay you Tuesday... for a hamburger today"...
"debt doesn't matter"... D. Cheney
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14Opinion
"He argued canceling student loan debt is good for the economy as borrowers will spend their payment money on other items."
Well no shit sherlock. Let's forgive my mortgage while we're at it... I'll have a ton of money to spend on other items.
He'll be shot down again. While you can't fix stupid, repetition is necessary to drill it into the general public that you have to pay your own debts. They can't just be wiped out by rigging an election for a socialist dictator. Laws exist. Rules have to be followed.
There will be serious blow back with this move, while he MIGHT have secured 813,000 votes from those who took out these loan, those who will end up paying for the through their taxes (mainly working class voters) will walk away from the Democrat party, it will only amplify disaffection they already feel by how the 'Biden' Administration has handled the country's budget, how it handled the J6 investigation, and Illegal Immigration, to mention but a few.
Most of that debt was interest, so little is actually "lost". But more than that, most of their "education" was crap, so they paid for a service that failed them.
He should call it "non-education compensation" but the Universities would kick up a stink.
What ever happened to being responsible adults?
I don't claim to be a specialist here.
But...
Would it not be better to wipe out certain ''Universities'' that breed students who have little perspective to make a decent living out of their ''title''?
It is a bad thing for taxpayers but he has bought 813,000 votes so it is a good thing for him. He is gonna need more than that though
It depends, if it was a STEM degree or a degree from a scam school then it is a good thing. If it's someone getting their debt for their gender studies or art history degree forgiven then it isn't.
Student debt is an egregious tax on education, so it's good. Continuing a bad policy would not be a good policy. Also it will promote consumer spending, which will help the economy.
My hope is that he be visited by ambient temperature by New Years.
He is such a liar liar I doubt he would know if his pants were on fire 🤔
He's just trying to get votes.
Anything to keep the syndicate in power
Yes, I support PSLFs as the benefit the country
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