Don't think Brandon is raising your taxes?

[K Frame]

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.

[Ben]

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.

[K Frame]

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.

[Jim147]

Madam Vodka already said he can't do this by himself. Do you think she will start the impeachment going next week?

[Ron]

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.

[Ben]

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.

[BobR]

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

[K Frame]

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!

[cordex]

Lightening the chains on the poorest of the plebes is the least of our problems.

This is not that.

[Ron]

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.

[HankB]

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.

[cordex]

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.

[Ben]

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.

[MechAg94]

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. 

[Kingcreek]

I worked hard and paid off my student loan debt. I’ll be expecting a check for $5000.

[sumpnz]

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.

[Nick1911]

Can't say I approve.  Folks entered into these debt arraignments freely - using public funds to pay them is inappropriate.

[Ben]

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/

[MechAg94]

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."

[Ron]

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

[Ben]

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/

[Lennyjoe]

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

[MechAg94]

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. 

[sumpnz]

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.

[K Frame]

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.