Armed Polite Society
Main Forums => Politics => Topic started by: K Frame on August 24, 2022, 11:54:21 AM
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You're on the hook for $300 BILLION in someone else's student loan debt.
https://www.foxnews.com/politics/biden-announces-student-loan-handout-national-debt-soars
And the NAACP is screaming bloody *expletive deleted*ing murder that it's not enough.
To be honest, I'm shocked that he did this this early. I really thought he'd roll this out near the end of October as a means of picking up some more votes for Dems in the mid terms.
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Interesting that the NAACP is upset about the "measly" amount. They generally don't care about educated black people, and it appears most of the debt forgiveness is for people with advanced degrees. All now paid for by people including your local plumbers and electricians who went to trade school and paid their own way.
This really burns me up. I paid my way through undergrad and grad school, including not going to college until I had worked in blue collar occupations to save the money. As did so many others, including liberals. I can't believe that even lefties who paid their own way aren't upset about this.
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Why would they be upset? Its just minting new liberal voters because... FREE *expletive deleted*it!
With any luck I'll be dead by the time this house of cards collapses, but they'll still be alive and wondering why their taxes have gone up 50% and their children's taxes have gone up 100%.
My guess, though, is that they'll still be screaming how it's Trump's fault.
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Madam Vodka already said he can't do this by himself. Do you think she will start the impeachment going next week?
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Big deal, the government has and continues to inflate the currency that there is no math that will anything work out.
Complaining about this while we feverishly shovel money into a war of choice with little strategic value is just dumb.
Lightening the chains on the poorest of the plebes is the least of our problems.
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Lightening the chains on the poorest of the plebes is the least of our problems.
Yes, but this isn't lightening the chains of the wealthiest of us. A bunch of this loan debt is grad and post-grad loans. I recall reading where something like half the White House staff have enormous outstanding loans and will benefit from this. Hence why one of the main talking points against this is "plumbers paying off the loans of lawyers."
Besides that, it's the principle of responsibility. They knew what they were getting into. They could have not signed on the dotted line. That includes the "poor" students as well. If you're too stupid to understand what a loan is, you're too stupid for college. If you understand and think you can scam the system, you should be in jail.
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Here is a breakdown of our elected representatives and their student debt burden. I actually expected there to be more, even though this is enough.
https://thecollegeinvestor.com/39318/student-loan-debt-members-of-congress/
bob
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Well *expletive deleted*it, I want, no I DEMAND, relief from debts into which I entered freely!
I bought a house, so I should get government mandated mortgage relief!
It's only fair...
FFFFFFFFFFFFFFFFAAAAAAAAAAAAAAAAAAAAAAAIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR!
WE GET FAIR BY MAKING THE RICH PAY THEIR FFFFFFFFFFFFFFFFFFFFFAAAAAAAAAAAAAAAAAAAAAIIIIIIIIIIIIIIIIIIIIIRRRRRRRRRRRRRRRRRRRRRR SSSSSSSSSSSHHHHHHHHHHHHHHHHAAAAAAAAAAAAAARRRRRRRRRRRRRRRRRRRRRRRRRRRRRRREEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!
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Lightening the chains on the poorest of the plebes is the least of our problems.
This is not that.
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Debt jubilee for all.
Just so you know, I don't own much and have have zero debt. I wouldn't personally profit.
The system enslaves the stupid and those who are smart enough to know better.
Think of all the doctors who kept their mouths shut and did what they were told the last few years.
Now scale that up to every industry.
People in debt don't make waves and can be corrupted out of fear of losing everything.
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Madam Vodka already said he can't do this by himself. Do you think she will start the impeachment going next week?
I was wondering myself - exactly what law allows POTUS to unilaterally cancel debts? Even legislation would seem to be "iffy" unless it involved a "buyout" of the loans by fed.gov.
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You are worried about corruption that comes from debt to the exclusion of the corruption that comes from direct bribery? That's interesting.
Think of all the doctors who kept their mouths shut and did what they were told the last few years.
Now scale that up to every industry.
People in debt don't make waves and can be corrupted out of fear of losing everything.
I don't think debt had as much to do with that as you do. Nor are people without debt in any way immune to fear of loss.
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Nor are people without debt in any way immune to fear of loss.
Yep. I am debt free. The gov can freeze or seize my electronic assets at their leisure, and tie up my attempts to get my assets back in court for years. If I don't have some kind of hidden physical assets (cash under the mattress, ammo for barter, etc.) I am basically at their mercy.
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Not too long ago, I heard someone suggest that you not only have an emergency fund in cash/savings account, but consider gathering up a similar amount in precious metals.
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I worked hard and paid off my student loan debt. I’ll be expecting a check for $5000.
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Unfortunately this was inevitable. If Biden hadn’t done this the D’s would have stayed home in droves come November. My only surprise is that he didn’t do more as the idiot socialist base will still caterwaul on the subject.
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Can't say I approve. Folks entered into these debt arraignments freely - using public funds to pay them is inappropriate.
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Madam Vodka already said he can't do this by himself. Do you think she will start the impeachment going next week?
Apparently the "national covid emergency" has given him the authority to do this.
How's he doing it?
Biden is employing a post-9/11 law that allows for debt cancelation "in connection with a war or other military operation or national emergency."
Which emergency? "[T]he present COVID-19 pandemic," per a Dept of Ed memo issued yesterday.
https://twitchy.com/sarahd-313035/2022/08/24/welp-looks-like-nancy-pelosi-doesnt-have-a-problem-with-joe-biden-bypassing-congress-on-student-loan-debt-after-all/
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Biden To Forgive $10k In Student Loans -- In Unrelated News, Nation’s Colleges Raise Tuition By $10k
https://babylonbee.com/news/biden-to-forgive-10k-in-student-loans-in-unrelated-news-nations-colleges-raise-tuition-by-10k
Shelia Johnson, a 45-year-old Harvard student working on her ninth degree, said she is excited for her loans to be forgiven, but worries about the ever-increasing cost of education. "I'm nervous that I might need to leave school one day to get a job and start paying my loans," she said. "Hopefully President Kamala Harris can find a way to solve this problem."
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Nobodies taxes are paying off forgiven debt or being sent to Ukraine. It's all being created out of thin air.
You guys grew up in a different world where budgets were still a thing and governmental fiscal responsibility wasn't a punchline. The economy doesn't run on balance sheets and budgets but money velocity.
Bunch of butt hurt boomers who want to keep folks enslaved to a system that makes payday loans look upright and ethical. We grew up in a mirage and benefited. Demanding the new slaves bootstrap themselves out of the collapsing ponzi scheme is wrong.
The system isn't going to get fixed, this is potentially the end stage of a credit expansion fiat currency economy.
boomer logic = pay the bookie or I'll let them break your legs
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A liberal at the Washington Post gives some salient reasons why this loan forgiveness is bad. The attacks on her by other lefties are fun reading.
https://twitchy.com/brettt-3136/2022/08/24/wapo-columnist-opposes-debt-cancellation-because-it-just-wasnt-bad-enough-to-justify-government-intervention/
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I worked hard and paid off my student loan debt. I’ll be expecting a check for $5000.
Sorry, Pocahontas said no…..the video is out there somewhere of a dad confronting her on that exact subject
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So I have heard a few say this was to get the leftists out to vote in November. Do you think Biden will win any new voters with this?
I want to say there are a lot of non-college educated workers out there who won't care for this. I don't know how many will realize they are paying for it.
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So I have heard a few say this was to get the leftists out to vote in November. Do you think Biden will win any new voters with this?
I want to say there are a lot of non-college educated workers out there who won't care for this. I don't know how many will realize they are paying for it.
I highly doubt anyone will vote D in November that wasn’t going to anyway on account of this. But this may prevent some amount of them staying home from the polls.
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I highly doubt anyone will vote D in November that wasn’t going to anyway on account of this. But this may prevent some amount of them staying home from the polls.
Oh, don't kid yourself.
There's been a growing undercurrent of discontent among a lot of Biden's support groups because he wasn't living up to his promises.
Those disaffected liberals were prime candidates for staying home and simply not voting.
This will help energize them to vote.
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Facebook removes House republican's posts on FB criticizing the plan and about paying back your loans for violating FB community standards
'Big Tech's at It Again': House GOP's Post About Student Loan 'Forgiveness' Plan Gets Censored
https://townhall.com/tipsheet/leahbarkoukis/2022/08/25/big-techs-at-it-again-house-gop-shares-their-post-about-student-loan-forgiveness-plan-that-got-censored-n2612222
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Oh, don't kid yourself.
There's been a growing undercurrent of discontent among a lot of Biden's support groups because he wasn't living up to his promises.
Those disaffected liberals were prime candidates for staying home and simply not voting.
This will help energize them to vote.
Ummm. That’s what I said.
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Cost estimates now up to $500b.
https://www.foxbusiness.com/politics/biden-student-loan-handout-cost-roughly-500b-committee-responsible-federal-budget
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Cost estimates now up to $500b.
https://www.foxbusiness.com/politics/biden-student-loan-handout-cost-roughly-500b-committee-responsible-federal-budget
This will at least triple, guaranteed.
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This will at least triple, guaranteed.
Especially after you figure in the usual dem handling charge.
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They're just addressing the financial harms of the COVID-19 pandemic under the pretense of following the Heroes Act
As it turns out, the legal basis Biden is using for his plan comes after the general counsel for the Department of Education "determined that the Higher Education Relief Opportunities for Students (“HEROES”) Act of 2003 grants the Secretary authority that could be used to effectuate a program of targeted loan cancellation directed at addressing the financial harms of the COVID-19 pandemic."
The HEROES Act is a 2003 law passed by Congress as part of America's response to the terrorist attacks of September 11, 2001 in order to provide federal student loan payment relief for American service members fighting in the Global War on Terror.
I've had financial harm because of C19 So where's my $20,000?
This is a *expletive deleted*ing big rabbit hole they want to go down.
Infuriating: Here's What Biden Is Using to Justify His Student Debt Plan
https://townhall.com/tipsheet/spencerbrown/2022/08/25/legal-basis-for-bidens-loan-debacle-n2612211
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My motorcycle payment identifies as a student loan.
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Well, hooray I guess. They can go on vacation now:
WASHINGTON, Aug 25 (Reuters) - Americans bearing heavy college debt loads welcomed U.S. President Joe Biden's announcement on Wednesday that he would forgive $10,000 in student loans, and some shared hopes they can jettison extra work hours and perhaps take a vacation or return to school.
"I would not have second thoughts when planning a trip or going on a vacation," said John Paul, 49, a restaurant manager in Washington DC who said he took out loans for his son's tuition.
https://www.reuters.com/world/us/us-student-loan-forgiveness-has-borrowers-hoping-vacations-medical-school-2022-08-25/?taid=63077f3c70c2360001ba4f46&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter
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Interesting rebuttal by the White House. Any dems mentioned?
https://twitchy.com/brettt-3136/2022/08/25/petty-the-official-white-house-twitter-account-is-outing-members-of-congress-who-took-ppp-loans/
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Interesting rebuttal by the White House. Any dems mentioned?
https://twitchy.com/brettt-3136/2022/08/25/petty-the-official-white-house-twitter-account-is-outing-members-of-congress-who-took-ppp-loans/
I've asked several times on twitter for a democrat list but I don't seem to get an answer.
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:rofl:
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We moved in with my wife's aunt because of the rise, and CONTINUED rise, in food and fuel. Where's OUR relief? My VA disability and Social Security Disability dang sure didn't rise to meet inflation!
:old:
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We moved in with my wife's aunt because of the rise, and CONTINUED rise, in food and fuel. Where's OUR relief? My VA disability and Social Security Disability dang sure didn't rise to meet inflation!
:old:
I make $28.75 hourly. I figure with the twin factors of inflation and rise in costs due to COVID my raises have been effectively washed back several years to when I was making $5 an hour less.
And I’m in discussions with a large construction company to make $35-40/hr but I don’t know if it’s going to make any difference to take it and probably will actually make me come out worse due to the fact I’d have to sell my $100k house and buy in a $250-300k house area, probably doubling to tripling my mortgage payment.
I don’t see how the hell anyone that is living on a severely reduced income like SS or a modest retirement that would have been decent back a decade ago is making it.
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Good response to rabid moron Elizabeth Warren:
You made $430,000 lecturing at Harvard & have the nerve to question why college costs $12,000 today?
https://twitchy.com/fuzzychimp-313137/2022/08/26/chief-clowny-elizabeth-warren-steps-on-hypocrisy-rake-while-lecturing-mcconnell-on-student-loans/
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(https://media.townhall.com/Townhall/Car/b/mrz082822dAPR20220827094503.jpg)
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Great ad on student bailout by American Action Network. :rofl:
https://youtu.be/GEA72wFG6o4
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Not being on twitter, I don't really know how "replies" work ( I actually don't know what "DM" means), but it appears Brandon's White millennial staff are posting fake replies to his twitter account:
https://twitchy.com/dougp-3137/2022/09/03/bidens-potus-account-shares-grateful-dm-and-for-some-reason-people-are-not-buying-it/
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Not being on twitter, I don't really know how "replies" work ( I actually don't know what "DM" means), but it appears Brandon's White millennial staff are posting fake replies to his twitter account:
https://twitchy.com/dougp-3137/2022/09/03/bidens-potus-account-shares-grateful-dm-and-for-some-reason-people-are-not-buying-it/
Methinks someone trolled Biden's account with that direct message. And Biden (more likely one of his social media handlers with a gender studies degree) fell for the troll.
I am not a twatter user, but I do not believe DMs are supposed to show up in the regular twatter thread, unless the user deliberately copies them over.
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Methinks someone trolled Biden's account with that direct message. And Biden (more likely one of his social media handlers with a gender studies degree) fell for the troll.
I am not a twatter user, but I do not believe DMs are supposed to show up in the regular twatter thread, unless the user deliberately copies them over.
The problem with the troll theory is that @POTUS is a proteected account and only allows DM's from accounts that he is following. So if that were a real DM, then it would have had to come from one of 12 people. https://twitter.com/POTUS/following
More likely someone made it up whole cloth and posted it to the account not realizing that any rando can't slide into POTUS's DMs.
Or Kamala did it.
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Apparently on that dm thing, his staff is "just passing stories along".
https://twitchy.com/fuzzychimp-313137/2022/09/05/biden-wants-you-to-text-him-and-the-response-is-hilarious/
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"Millions of Americans over 50"
So why haven't these losers paid off their loans? One of the big talking points is how much more school costs now than it did 25 years ago, when these "over 50s" were in school. Why is it taking them 30 years to pay off student loans from when tuition was "25% of what it is now"?
I mean, I'm sorry if I'm offending anyone here who might be in this position, but it's just astounding to me that people take longer to pay off $30K-$50K in student loans than it takes them to pay off a house.
https://twitchy.com/sarahd-313035/2022/09/05/cnn-tries-to-stir-up-sympathy-for-the-millions-of-americans-over-50-who-just-as-irresponsible-as-young-student-loan-borrowers/
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A fair percentage of the over 50 student loan holders may be parents that signed on to the loans.
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A fair percentage of the over 50 student loan holders may be parents that signed on to the loans.
I'm sure there are, and CNN mentions that later in the article. But they opened up with this moving story:
If it weren't for her student loan debt, Lark Abelson would already be retired.
The 63-year-old took out $5,000 in loans more than 20 years ago to get an associate degree in computer technology from Wor-Wic Community College in Maryland to try to make a better life for herself and her younger daughter. But she wasn't able to find work in the field and remained in low-paying retail jobs that prevented her from paying back the debt. After enrolling in income-driven repayment plans several times, she went into default a few years ago.
Abelson, who lives outside of Ocean City, Maryland, was afraid to quit her job and rely on Social Security because the federal government can withhold part of her monthly checks to repay the debt.
But the federal student loan debt relief plan that President Joe Biden announced in late August has given Abelson new hope. Though she hasn't checked her balance lately, she thinks it will wipe out what she owes. She's already asked to be notified when she can apply for forgiveness and has taken the first step toward signing up for Social Security benefits.
"Because I know this is coming through, I actually started the process of claiming Social Security the day after Biden announced it," Abelson said of the debt relief plan. "I am more than grateful."
Thank goodness the fed.gov has given this woman some money to pay off a debt that she doesn't even know the balance of so that she can get more government money free from any attempts to recoup her debt. My heartstrings remain resolutely unplucked.
Not to mention that I checked interest rates 20 years ago and they were at 8%. Her payment was $60 a month, and it would have been paid off a decade ago. It sucks that she couldn't find a job with whatever BS Tech cert she paid for, but come on. $60 a month? They should dock her SS check. Or her income tax returns.
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I'm guessing that her comp sci degree was one of those with absolutely no skills involved.
I took ONE computer class in college. I thought it might be important. It was in 1986.
The teacher, who was some sort of snooty tenure monster, announced the first day of class that personal computers were a fad, and that people would forever need to log onto mainframes for anything serious.
That was about 15 minutes into the first day's meeting.
I stood up, told him he was an idiot, and immediately dropped the course. Along with several other folks.
FWIW, my father was one of the guys who started one of the first software companies - but back then it was decks and decks of punch cards.
www.cincom.com
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I'm sure there are, and CNN mentions that later in the article. But they opened up with this moving story:
Thank goodness the fed.gov has given this woman some money to pay off a debt that she doesn't even know the balance of so that she can get more government money free from any attempts to recoup her debt. My heartstrings remain resolutely unplucked.
Not to mention that I checked interest rates 20 years ago and they were at 8%. Her payment was $60 a month, and it would have been paid off a decade ago. It sucks that she couldn't find a job with whatever BS Tech cert she paid for, but come on. $60 a month? They should dock her SS check. Or her income tax returns.
I agree.
And I can't help but wonder if while she couldn't come up with $60 a month for her debt, whether or not she still could still find money for beer, cigarettes, and cable TV.
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And I can't help but wonder if while she couldn't come up with $60 a month for her debt, whether or not she still could still find money for beer, cigarettes, and cable TV.
As a former landlord, it was always fascinating to me to hear the sob stories about rent, but see the same tenants constantly buying new toys. My dad had a tenant that actually once told him, "I can't pay the rent this month because I have to buy baseball equipment for my boy".
I guess he was honest, at least, but it just shows that there is a significant portion of the population that believes luxuries are a higher priority than responsibilities. Too many people have been taught (and have experienced) that someone will bail you out of your responsibilities. It's like the old story about how the Air Force builds bases: Put the bowling alley in first, and the runway in last, and when you run out of money early, well, you HAVE to have a runway!
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As a former landlord, it was always fascinating to me to hear the sob stories about rent, but see the same tenants constantly buying new toys. My dad had a tenant that actually once told him, "I can't pay the rent this month because I have to buy baseball equipment for my boy".
I guess he was honest, at least, but it just shows that there is a significant portion of the population that believes luxuries are a higher priority than responsibilities. Too many people have been taught (and have experienced) that someone will bail you out of your responsibilities. It's like the old story about how the Air Force builds bases: Put the bowling alley in first, and the runway in last, and when you run out of money early, well, you HAVE to have a runway!
I think that first part comes up with anything. People make bad choices spending money and then make excuses that they can't afford that necessity. Don't pay attention to the fast food and beer they bought or the other useless stuff they could have done without.
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Blocked, for now
The 8th U.S. Circuit Court of Appeals granted a motion on Friday to temporarily block President Biden's student loan handout plan.
The appeals court ruled in favor of six Republican-led states who requested that Biden's handout plan is halted while the court works through its request for an injunction.
US appeals court temporarily blocks Biden's student loan handout
https://www.foxbusiness.com/politics/u-s-appeals-court-grants-injunction-temporary-blocking-bidens-student-loan-handout
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Amy Comey Barret unfortunately allowed another federal court dismissal to stand when she rejected a review by the Supreme Court.
https://www.reuters.com/markets/us/us-supreme-courts-barrett-declines-block-biden-student-loan-relief-2022-10-20/
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While it might have been desirable to accept the challenge the SCOTUS only takes up a tiny percentage of the cases it sees, and usually holds out for when there are district courts disagreements or major constitutional implications. While a good case could be made that Biden doesn’t have the constitutional authority to “forgive” student loans it’s hardly the only improper use of executive authority to occur and while expensive, may not rise as high as other incidents in constitutional importance. And if those weren’t sufficient constitutional insults to warrant SCOTUS intervention, why would this?
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"And if those weren’t sufficient constitutional insults to warrant SCOTUS intervention, why would this?"
I can think of a whole series of possible reasons why it might bear Constitutional review. I'm sure the plaintiffs in the action thought the exact same thing when they actually brought the initial case. That's how the who judicial system works -- two parties making arguments, hoping their arguments are sufficiently persuasive to have a ruling in their favor.
The entire appeals process is part of that.
I'm sure that their pleading to the Supreme Court asking for review was a bit more fluently worded than "The lower judge was a poopy head and he needs to be reversed because we don't like poopy heads!"
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I can think of plenty of reasons too. But we’re not SCOTUS judges. And we don’t know (yet) which other cases they’re going to take on instead. We also don’t know if there was something said behind the scenes that Barrett and/or other conservatives want to see happen before they take on the case.
Or, they really are feckless bastards bowing to the elites.