Official Student Debt Cancellation Watch Thread

[AquaCityBoy]

Fair point.

 

[Champion]

There are ppl on here that were saying Biden’s presidential term will be viewed as better than Obama’s. By who? Barry was far from perfect but he was miles better than this clown.

I guess the coli was really gassed off those stimulus checks.

 

[FAH1223]

There are ppl on here that were saying Biden’s presidential term will be viewed as better than Obama’s. By who? Barry was far from perfect but he was miles better than this clown.

I guess the coli was really gassed off those stimulus checks.

When COVID was declining in May-June, the American Rescue Plan was being implemented, and the infrastructure plan was introduced, it looked like by the end of the summer he'd have gotten all that passed. And then this Fall we'd be focused on voting rights and other things like that. I think it was gonna be more structurally significant and reach the working and middle class better than the Obama first term which let the foreclosure wave run unabated.

On an administrative level, Biden has better people running the agencies than Obama had. Still early on that front.

 

[CrimsonTider]

When COVID was declining in May-June, the American Rescue Plan was being implemented, and the infrastructure plan was introduced, it looked like by the end of the summer he'd have gotten all that passed. And then this Fall we'd be focused on voting rights and other things like that. I think it was gonna be more structurally significant and reach the working and middle class better than the Obama first term which let the foreclosure wave run unabated.

On an administrative level, Biden has better people running the agencies than Obama had. Still early on that front.

This is also because liberal economic theory has changed alot since Obama 1st term

Biden has gotten 2 big pieces of legislation signed but delaying the loans payments is common sense and doesn’t require Congress and a easy win that was fumbled

I do believe due to the outrage he’s going to delay them tho

 

[Leavingtheecstasy]

He hadn't really done shyt.


This would've been one of the simplest and easiest things he could've done.


fukk em

 

[FAH1223]

This cutoff of CTC payments is not the only looming financial problem facing millions of Americans. Since the pandemic began, student loan payments have been on a pause. The pause has been extended several times, but the White House has confirmed that it will not extend the pause again after January 31. This means that payments of $393 per month (on average) will resume for 42 million federal borrowers. The raw total of those renewed payments, on an annual basis, approaches the level of the one-time checks handed out in the American Rescue Plan.

So under current policy, in January, CTC checks will stop, and in February, student loan payments will restart. This double whammy is a form of austerity that might bolster the federal government’s bottom line, but will severely crunch millions of families and young college graduates in the middle of an inflation surge.

I’M REMINDED OF TWO historic situations. The first was in 1937, when Franklin Roosevelt, confident that his New Deal policies had put the economy on greater footing, tried to balance the budget, concerned about (as his Federal Reserve chair Marriner Eccles put it) a “dangerous inflation” in consumer goods. This triggered a recession within the Great Depression, one that Roosevelt had to work to reverse; the buildup prior to WWII—which didn’t really take effect until four years later—finally did the trick. Periodically over the years, we have relived 1937, with too-soon efforts to kick out federal support for the economy. If we reimpose significant costs on families and young people at the outset of 2022, we could relive 1937 all over again.

The second historical analogy is 1979, when Fed chair Paul Volcker announced that he would “break the back” of inflation with persistent interest rate hikes. This lasted for three years and created the worst economic downturn since the Depression and the decimation of Midwestern manufacturing. Eventually, inflation came down and Volcker eased up, at the cost of the financial fortunes of millions.

 

[New Jeruzalem Journalist]

This is also because liberal economic theory has changed alot since Obama 1st term

Biden has gotten 2 big pieces of legislation signed but delaying the loans payments is common sense and doesn’t require Congress and a easy win that was fumbled

I do believe due to the outrage he’s going to delay them tho

And if (or should I say when) he doesn't, will your evaluation of him be reassessed?

And let's not lose track of where the goal posts have shifted towards. To continue with the football analogy, if the center doesn't snap the ball to the QB before the play clock hits zero, that doesn't mean the game has ended.

 

[Wargames]

I guess the kids finally figured out Joe Biden was not just a member of the “fukk them Kids” coalition, but the President too.



Peep his numbers with 30-44 year olds

 

[88m3]

I'm fine with the pause being extended

 

[AquaCityBoy]

I don't think this is over yet because look at this from Chuck Schumer:





I'm not sure what Schumer's endgame is here as I've been saying for months he's not actually serious about student loan relief, but if Biden wanted him to shut the fukk up about it he would have. Schumer's giving away the game here.

 

[dora_da_destroyer]

There are ppl on here that were saying Biden’s presidential term will be viewed as better than Obama’s. By who? Barry was far from perfect but he was miles better than this clown.

I guess the coli was really gassed off those stimulus checks.

More like 1/3 of this forum hates him for not being the president of black America and another 1/3 hate him for not being Bernie Sanders

 

[Wargames]

I don't think this is over yet because look at this from Chuck Schumer:





I'm not sure what Schumer's endgame is here as I've been saying for months he's not actually serious about student loan relief, but if Biden wanted him to shut the fukk up about it he would have. Schumer's giving away the game here.

It could be Kayfabe or it could just be no one wants to own this

 

[Shogun]

I'm not sure what Schumer's endgame is here as I've been saying for months he's not actually serious about student loan relief, but if Biden wanted him to shut the fukk up about it he would have. Schumer's giving away the game here.

Needs to get re-elected soon.

 

[mastermind]

I don't think this is over yet because look at this from Chuck Schumer:





I'm not sure what Schumer's endgame is here as I've been saying for months he's not actually serious about student loan relief, but if Biden wanted him to shut the fukk up about it he would have. Schumer's giving away the game here.

His endgame is to not lose his 2022 election.

 

[AquaCityBoy]

Schumer is not losing his election over this.

And even if he was, that's a really stupid strategy.

"Listen here, Jack. Go ahead and tell everybody I can unilaterally cancel student debt even though I don't want to do it, so that it'll backfire on both of us politically when I don't do it and you can't convince me to do it. "

Dems are stupid, but they're not that stupid.