How will Joe Biden GOVERN? General Biden Administration F**kery Thread

[Pressure]

He's confused since that money is already on the books. Any future changes to debt would be with regard to annual losses due to lack of interest on the forgiven amount,but those loses would be amortized over the life of the debts repayments.

That's not a good reason to not take action.

 

[CrimsonTider]

He's confused since that money is already on the books. Any future changes to debt would be with regard to annual losses due to lack of interest on the forgiven amount,but those loses would be amortized over the life of the debts repayments.

That's not a good reason to not take action.

I’m not going to call y’all dumb but y’all just don’t know

when you pay your student loans the principe amount you pay reduces the DOE’s 1.8 trillion receivable for loans and increases they’re cash

to cancel student debt means someone will have to pay that 1.8 trillion. Now the white can move some money around like they’ve done with 1 billion they have cancelled but to clear the entire 1.8 trillion will require congress to authorize new spending

This is almost the same argument when people think money is just printed out of nowhere and doesn’t have to be paid back by the government

 

[Pressure]

I’m not going to call y’all dumb but y’all just don’t know

when you pay your student loans the principe amount you pay reduces the DOE’s 1.8 trillion receivable for loans and increases they’re cash

to cancel student debt means someone will have to pay that 1.8 trillion. Now the white can move some money around like they’ve done with 1 billion they have cancelled but to clear the entire 1.8 trillion will require congress to authorize new spending

This is almost the same argument when people think money is just printed out of nowhere and doesn’t have to be paid back by the government

Well, the government technically could print a 1.8tn dollar coin with the sole purpose of paying off student debt

But the point you're missing is if student debt is canceled they don't have to make those payments back over one year but over the life of those loans. Further, we know from a 2020 report from the Trump administration that the government already expects to wrote off roughly 435 billion of the 1.6tn in currently outstanding student debt -- so about 1/4.

The average amount of time student debt is paid off is 20 years. So your concern is the government coming up with 1.2 trillion dollars over 20 years if it forgave ALL student dent or just a few hundred billion over 20 years if it forgave on 10k.

The government can afford it.

 

[NZA]

i dont really know if voters will think like this, but in light of what is happening now, ending the afghan war is aging even better...

 

[CrimsonTider]

Well, the government technically could print a 1.8tn dollar coin with the sole purpose of paying off student debt

But the point you're missing is if student debt is canceled they don't have to make those payments back over one year but over the life of those loans. Further, we know from a 2020 report from the Trump administration that the government already expects to wrote off roughly 435 billion of the 1.6tn in currently outstanding student debt -- so about 1/4.

The average amount of time student debt is paid off is 20 years. So your concern is the government coming up with 1.2 trillion dollars over 20 years if it forgave ALL student dent or just a few hundred billion over 20 years if it forgave on 10k.

The government can afford it.

where’s the proposal. Bernie tweeting cancel student debt isn’t proposed legislation. It’s nothing at this point

fact is the DOE has a 1.8 trilllion dollar receivable that someone has to pay off

Biden can not cancel all Debt. He can do what he’s been doing… keeping the pause, moving money around to cancel debt for the disable and fix the PSFL part

Bernie can write legislation and bring it to vote.

 

[Godless Socialist CEO]

It's hilarious because there's no downside to actually canceling college debt. It would be a huge boon to the economy. Then you move forward and make college free and subsidize industries that are lacking workers to provide education whether it takes a college degree (Nursing) or not (Plumbing) and that literally will all be a net positive for the country. We've already done this once lets do it again. Our military is literally a job program so just take the money from there and use it to fund jobs in industries that actually help the united states and its economy.

Less Weapons, more jobs. It's win-win.

Can't wait to hear all the dumb reasons for push back on a plan like that though.

 

[Pressure]

where’s the proposal. Bernie tweeting cancel student debt isn’t proposed legislation. It’s nothing at this point

fact is the DOE has a 1.8 trilllion dollar receivable that someone has to pay off

Biden can not cancel all Debt. He can do what he’s been doing… keeping the pause, moving money around to cancel debt for the disable and fix the PSFL part

Bernie can write legislation and bring it to vote.

Biden can task the education secretary with canceling it.

Then you can sue and we will see what happens.

If it holds in court then it sounds like the perfect impetus to get congress to handle the rest of the overhaul

 

[Godless Socialist CEO]

its a very entitled and distant thing to say

What's even more fukked up is that the Gen X, Millienial and Gen Z generations were all told we have to go to college to make ourselves more desirable to employers. We were also told that doing these things would ensure well paying jobs and that we would live comfortable like the boomers who came before us.

Instead what actually happened is corporations and billionaires stopped paying taxes into the education system to help subsidize their workforce and that expense fell on us. You'd think that means that wages would rise right since corporations have more money from not paying taxes NOPE. College tuition has outpaced wages over the years. So we take on all the risk and we don't even get a pay off at the end meanwhile billionaires and corporations take advantage of all of this and laugh all the way to the bank. Then people like @Pressure turnaround and finger wag people for not wanting to pay debt when this is the path damn near everyone was told to go down for prosperity. It was all a lie.

People should have their debit forgiven on the strength alone that it was a lie and corporations and billionaires should be forced to pay for it since they don't want to increase wages. They get cheap educated labor to drive their capitalist machine and literally pay nothing for it, reap all the benefits, and the people who got sold a bill of goods are the problem???????????? Nah I'm not going for that.

 

[CrimsonTider]

Biden can task the education secretary with canceling it.

Then you can sue and we will see what happens.

If it holds in court then it sounds like the perfect impetus to get congress to handle the rest of the overhaul

No Biden can’t task them with that . This is not a plan it’s literally throwing some shyt at the wall


The only thing Biden can do is tell the DOE to not accept payments


And guess what…. THATS WHAT THE PAUSE IS!!!

 

[Pressure]

Then people like @Pressure turnaround and finger wag people for not wanting to pay debt when this is the path damn near everyone was told to go down for prosperity. It was all a lie.

People who attend college do better than those who do not. That doesn't change because it isn't as a great of a deal.

And if your issue it with the entire nature of student debt then you should be pushing for a comprehensive solution instead of a student debt jubilee

 

[Godless Socialist CEO]

People who attend college do better than those who do not. That doesn't change because it isn't as a great of a deal.

And if your issue it with the entire nature of student debt then you should be pushing for a comprehensive solution instead of a student debt jubilee

Someone didn’t read every post before this

 

[Godless Socialist CEO]

People who attend college do better than those who do not. That doesn't change because it isn't as a great of a deal.

And if your issue it with the entire nature of student debt then you should be pushing for a comprehensive solution instead of a student debt jubilee

Also we have people with college degrees that can’t afford rent. Great deal indeed

 

[88m3]

Also we have people with college degrees that can’t afford rent. Great deal indeed

Most people can't afford the rent or are rent burdened.

 

[Godless Socialist CEO]

Most people can't afford the rent or are rent burdened.

U right tho

 

[Gritsngravy]

This student loan debt convo sounds like to me the gov needs to make education free and make companies improve wages