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President Biden: The NEW one and only politics thread

Discussion in 'Sports and News' started by Moderator1, Jan 20, 2021.

Page 3473 of 8917
  1. dixiehack

    dixiehack Well-Known Member

    Oh, guess what debt can’t be wiped out in bankruptcy?
     
    dixiehack, Aug 25, 2022
    #41665
    Driftwood, FileNotFound and BitterYoungMatador2 like this.
  2. dixiehack

    dixiehack Well-Known Member

    dixiehack, Aug 25, 2022
    #41666
    Slacker and OscarMadison like this.
  3. TigerVols

    TigerVols Well-Known Member

    The best thing about this debate the country is having over the student loan forgiveness is finally we're debating about something that was a win for liberals.
     
    TigerVols, Aug 25, 2022
    #41667
    garrow, dixiehack, heyabbott and 5 others like this.
  4. doctorquant

    doctorquant Well-Known Member

    I disagree, not for the cartoonish reasons attributed to me but because out there are many, many, many millions of people who took the government at its word and made their education choices -- rather than go here and take on a lotta debt, maybe go there and don't take on much debt? maybe don't go at all? -- accordingly. They have to live with the consequences of their decisions. What's so special about the "Forgive!" set that its members don't have to live with the consequences of theirs?
     
    doctorquant, Aug 25, 2022
    #41668
    JimmyHoward33 likes this.
  5. doctorquant

    doctorquant Well-Known Member

    If you could wipe out student loan debt in bankruptcy, there wouldn't be nearly so much of it.
     
    doctorquant, Aug 25, 2022
    #41669
  6. dixiehack

    dixiehack Well-Known Member

    I’m sure there’s some Trump appointee on a Federal bench in Possum Droppings, Texas, who will slap a nationwide injunction on it and pin the decree on his door with a Bowie knife.
     
    dixiehack, Aug 25, 2022
    #41670
  7. doctorquant

    doctorquant Well-Known Member

    doctorquant, Aug 25, 2022
    #41671
  8. The Big Ragu

    The Big Ragu Moderator Staff Member

    No idea what that link says, but it doesn't take a think tank to understand that it is going to be regressive, any more than it takes one to understand that if you slam your head against the wall is going to cause a lump.

    This wasn't done for a progressive reason. It was done because there is 1) a midterm election coming up, and 2) this does an amazing job of trying to buy the votes of people who are among the most likely to actually vote.

    It was as cynical as Donald Trump mailing checks to people and wanting his name to be on the check.
     
    The Big Ragu, Aug 25, 2022
    #41672
    doctorquant likes this.
  9. Mngwa

    Mngwa Well-Known Member

    Mngwa, Aug 25, 2022
    #41673
  10. heyabbott

    heyabbott Well-Known Member

    Jesus forgave your debts. Biden forgave mine.
     
    heyabbott, Aug 25, 2022
    #41674
  11. Oggiedoggie

    Oggiedoggie Well-Known Member

    I think that a less obvious reason for this limited loan relief is that it might easier to accomplish than to try to address the root of the problem, the simultaneous rapid increase in the costs of college education and the drastic cuts by states for the funding of that education.
     
    Oggiedoggie, Aug 25, 2022
    #41675
    WriteThinking likes this.
  12. The Big Ragu

    The Big Ragu Moderator Staff Member

    GS pointed out that it's regressive too. Lower income people don't have student debt.

    The gist of what they put out, though, was to say there is an offset. They expect this to boost aggregate demand economically (which is what has inflation raging). ... but they think it will be offset by the fact that in January they are going to start forcing people who have been in forbearance for the last year nad a half to start making payments again on their loans.

    That is kind of the consensus. Not just GS.

    What I think it misses. ... is that all things being equal, this is inflationary. Only when you start from the base of the forebearance can you point to that offset. If you start from the vantage point of those loans already existing and the interest cost and prinicpal having accrued (whether people were paying what they owe or not), all things being equal this is more of the same kind of stupidity that caused the inflation that is hammering everyone now.
     
    The Big Ragu, Aug 25, 2022
    #41676
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