Bear Ribs
Well-known member
The current Biden plan is to forgive 10,000 in student debt for all persons with under 150,000 in annual income.
Gas is at all time highs, you can't buy baby food, and inflation is skyrocketing... Biden's handlers: "let's eliminate a portion of student loan debt"
The current Biden plan is to forgive 10,000 in student debt for all persons with under 150,000 in annual income.
It's throwing a bit of juicy steak at their attack dogs so they will be obedient for a little longer. Summer has only just begun and I'm willing to bet the demonrats are already prepared for starting a new wave of riots.Gas is at all time highs, you can't buy baby food, and inflation is skyrocketing... Biden's handlers: "let's eliminate a portion of student loan debt"
...I am at a loss for words
> plan
The current Biden plan is to forgive 10,000 in student debt for all persons with under 150,000 in annual income.
I recall the same, 10K was the campaign promise.Some people wanted that. I'm not aware Biden ever said he was on board with forgiving all student debt. In fact, $10k is exactly in line with what I recall.
Yeah, I don't need this and don't want it.I have no idea why people think it's a good idea for them to use everyone's money to bail out the debt of the upper class which college graduates generally fall into.
Well a large portion of those loans are held by the federal government itself. So I'm not exactly sure what the consequences of that would be.I guess a question I have is, if the debt is "forgiven," do they necessarily have to print money, or can they basically just screw over whatever financial institution holds the loans and make them subtract $10k from everyone's bill?
They print more money to cover the lost revenue. Inflation rises.Well a large portion of those loans are held by the federal government itself. So I'm not exactly sure what the consequences of that would be.
That's what I mean - do they necessarily have to, or do they essentially declare they aren't going to collect that money? What effect does that have on the economy?They print more money to cover the lost revenue. Inflation rises.
Every liberal I talked to claims it will be screwing over the banks and they won't print more money to cover it.I guess a question I have is, if the debt is "forgiven," do they necessarily have to print money, or can they basically just screw over whatever financial institution holds the loans and make them subtract $10k from everyone's bill?
I have no idea why people think it's a good idea for them to use everyone's money to bail out the debt of the upper class which college graduates generally fall into.
Use that money to get some oil drilling going. Build some pipelines. Hell maybe help out manufacturers of fucking baby food.
Actually, obama nationalized student loans.IIRC, since student loans give the colleges and universities their money up front, forgiving them is not an expense but instead purely a loss of revenue... For the financers that actually give the loan money, because I think the government actually uses normal banks as the source of capital for it rather than taking it from its own budget.