United States Biden administration policies and actions - megathread

[Blasterbot]

the way to collapse it instantly is simple allow people to declare bankruptcy over college debts. loans would dry up overnight and institutions would scramble for money.

 

[mrttao]

No one forced them to take out these loans or to go to college

The megacorps did. "can't get a job without a degree and 10 years experience. oh now everyone has a degree. can't get a job period"

the way to collapse it instantly is simple allow people to declare bankruptcy over college debts. loans would dry up overnight and institutions would scramble for money.

Funny thing. it was biden who spearheaded the push to make it impossible to declare bankruptcy over student loans.
but people have the memory of a gnat

 

[KilroywasNOTHere]

The megacorps did. "can't get a job without a degree and 10 years experience. oh now everyone has a degree. can't get a job period"

Funny thing. it was biden who spearheaded the push to make it impossible to declare bankruptcy over student loans.
but people have the memory of a gnat

it's almost as if he and his buddies were trying to push an entire generation into a lift time of debt slavery so that they could then turn around and "emancipate" them and be seen as a heroes so that said emancipated will vote democrat for the next century.

 

[Battlegrinder]

The megacorps did. "can't get a job without a degree and 10 years experience. oh now everyone has a degree. can't get a job period"

You've got cause and effect backwards there. Companies raised requirements as a reaction to the increase in people coming in with advanced degrees, in order help filter out applicants. And even then, a degree wasn't necessary to get a good job, there are still loads of jobs that pay a comfortable salary and require, at worst, a few years of trade school.

 

[Bacle]

The government.
You are talking, in both of those cases, about the government. And specifically the left-aligned academia and managerial class running the bureaucratic arms of the government most visibly in this instance through the Department of Education. This doesn't hurt a 'bottom line' because the bottom line is THE UNITED STATES.

It hurts us, collectively. For the benefit of predominantly already-wealthy individuals at the cost of everyone.
This shit's 'golden parachute' bailouts all over again...Except it's not private CEOs being bought-out by govenrment loans because the companies are too big to fail but the victims of public education being bought-off to vote for the right people (see above).

If you want to coopt the issue? Sure. Easy way to do it. As floated by some, use University endowments as compensation for the forgiveness. Blanket forgiveness like this is a shit way of doing it and does nothing to actually upset the structure (that structure is beneficial to the party/ideology currently in power, after all). Besides also being, y'know, stealing from everyone who didn't take college loans or who paid theirs back.

And how will this hurt them, exactly? The college already already got paid, the students don't owe them any money, and the loans were issued by the federal government. Writing this off does nothing to them.

Actually taking action to fight the grossly inflated prices colleges charge, that would actually hurt them, but that has no impact on the debt "crisis".



No one forced them to take out these loans or to go to college, nor to take on a debt burden they couldn't afford.

Which, by the way, they can totally afford. A college degree still translates to nearly twice the income of someone with just a HS degree. This people whining about being "mired in debt" are complaining that because they got a degree that gives them far more income, they have a slightly smaller but still huge paycheck thanks to their debt.



Selectively giving out money to people that either willingly took out loans they can't afford or are just inconvenienced by the extra cost right now but will eventually pay them off and earn tons more money on top of that, by taking money from the people who made different choices is fundamentally unjust.

I paid my own way through college and avoided debt, and am actually going back to trade school now because my career plan from college has not worked, paying my own way at significant cost. Not an unaffordable cost, but significant. Why should some guy who's just wrapped up his CPA degree get chunks of his debit forgiven (read: paid for by me and my taxes) while he starts climbing the ladder toward a six figure job that will let him easily repay that, while I max out at like 90k. How is that fair?




No it isn't.

You two want to get angry at someone for this happening, direct your ire at Fauci and Brix for gutting the economy with their state enforced hypocondria over the Wu Flu.

Because the fact is college degrees are effectively 'forced' on most young people these days, and guess what, a lot of the assumptions about society and the economy that were in effect before the Wu Flu are no longer valid.

Also, you completely dodged the 'colleges force people to take worthless classes to pay for worthless depts/degrees' issue.

The Right may hate gibs, but they fucking work, and bitching about that over 'fiscal conservative' principles is how the Right, while the Left also marched through the institutions, is part of why the Right keeps losing.

Fiscal conservativism on a national scale is a farce as long as the Federal Reserve, black ops budgets, and fiat currency exists.

 

[Battlegrinder]

You two want to get angry at someone for this happening, direct your ire at Fauci and Brix for gutting the economy with their state enforced hypocondria over the Wu Flu.

Because the fact is college degrees are effectively 'forced' on most young people these days, and guess what, a lot of the assumptions about society and the economy that were in effect before the Wu Flu are no longer valid.

Please explain how this is true, that the entire economy no longer works the way it used to. Because I've never heard anyone else claiming that.

Also, you completely dodged the 'colleges force people to take worthless classes to pay for worthless depts/degrees' issue.

Because it's irrelevant. General education courses are typically only a small portion of any given degree (I think I had to take....maybe 5 or 6, total), and are not responsibly for driving the overall cost of tuition upwards.

The Right may hate gibs, but they fucking work, and bitching about that over 'fiscal conservative' principles is how the Right, while the Left also marched through the institutions, is part of why the Right keeps losing.

Biden wouldn't have to desperately thrown money at his parties dwindling base if republicans were losing.

Fiscal conservativism on a national scale is a farce as long as the Federal Reserve, black ops budgets, and fiat currency exists.

Uh....no, none of those things are driving the budget issues that conservatives are worried about. The root cause of that is that the federal government refuses to stop spending money in ever increasing amounts.

 

[Vaermina]

It's happening!

Having read the text of the Higher Education act the executive order is trying to rest on.

I give it a 30-40% chance of surviving legal challenge.

 

[mrttao]

Because it's irrelevant. General education courses are typically only a small portion of any given degree (I think I had to take....maybe 5 or 6, total), and are not responsibly for driving the overall cost of tuition upwards.

they are at least half of the courses.
you are right about them not being the cause of tuition being so expensive.

 

[Cherico]

they are at least half of the courses.
you are right about them not being the cause of tuition being so expensive.

At the college I worked at the secretary had a secretary who had a secretary.

I am not kidding.

 

[History Learner]

It's happening!

Excellent news, and the first time I've agreed with the Executive Branch on anything in years. Good for the economy and America at large.

 

[The Whispering Monk]

Excellent news, and the first time I've agreed with the Executive Branch on anything in years. Good for the economy and America at large.

How is it good for the economy?

 

[History Learner]

How is it good for the economy?

Because millions of people will now have increased discretionary income going forward, which means revunue to be earned by businesses and higher tax receipts for various governments. There's actual historical precedent in this case of the Bonuses paid out to World War I veterans in the 1930s being a major cause of what brought us out of the Great Depression.

 

[Battlegrinder]

they are at least half of the courses.
you are right about them not being the cause of tuition being so expensive.

13/40 courses at my alma mater, and a several of those can be related to you major, and several more are useful skills despite being unrelated (communications for one, and as this was a CS degree, I'd count PE as another).

Because millions of people will now have increased discretionary income going forward, which means revunue to be earned by businesses and higher tax receipts for various governments. There's actual historical precedent in this case of the Bonuses paid out to World War I veterans in the 1930s being a major cause of what brought us out of the Great Depression.

The problem is right now we're in a recession, not a depression, and increasing the money supply and consumer spending is the exact opposite of helpful in a recession.

 

[Cherico]

13/40 courses at my alma mater, and a several of those can be related to you major, and several more are useful skills despite being unrelated (communications for one, and as this was a CS degree, I'd count PE as another).



The problem is right now we're in a recession, not a depression, and increasing the money supply and consumer spending is the exact opposite of helpful in a recession.

Our situation is pretty fucked up.

If we hadn't spent decades spending money like idiots it might be an option right now as a country were pretty much fucked our only consolation is that most of the world is fucked more then us.

 

[History Learner]

The problem is right now we're in a recession, not a depression, and increasing the money supply and consumer spending is the exact opposite of helpful in a recession.

I don't think you could ever find a consensus among economists that you need less consumer spending in a recession; the opposite is entirely how you stop one. Specific to this issue, however, there is no inflation effect to be caused by this policy at all. There's been a payment pause since 2020 under Trump, this is a formalization of the existing situation, nothing more.

 

[mrttao]

The problem is right now we're in a recession, not a depression, and increasing the money supply and consumer spending is the exact opposite of helpful in a recession.

There are MANY problems right now. But the biggest one is

The Most Important Money Statistic…. Ever.

So, you don’t have to be an economist to interpret this. I’ll explain it in layman’s terms without any fancy jargon.

medium.datadriveninvestor.com

2020-01-06 dollars in circulation*: 3.984 trillion
2020-04-27 dollars in circulation*: 4.899 trillion
2020-05-04 dollars in circulation*: 15.982 trillion
2021-01-01 dollars in circulation*: 18.185 trillion
*according to the federal reserve:

that was 226% inflation in less than a month during 2020.
real actual inflation not the lies printed by media.
Total actual real 2020 inflation is 356% according to the feds own numbers.

Critically important is that on 2021-01-01 the federal reserve stopped sharing this information with the public! So any further real inflation is now a secret while they lie and claim it is "really only 8.5%" and controlled opposition outlets like fox news claim it is really 17%. It isn't. It was 356% in 2020 and a secret amount in 2021

 

[ATP]

The word "villain" aka "evil guy in a story" literally means "villager". they literally said filthy peasant == evil. And serfs were literally slaves.
The aristocrats had an interest in not ruining their slaves, but their lives were spent without a care to them as people.

Also it was the peasant revolts that killed the aristocracies. The modern western aristocrats are not descendant from freedom fighters, or fighters at all.
Also, the slaughter of the old aristocrats happened many generations ago, the current crop had nothing to do with that.

Plus, slaughter the old to become the new is a tradition for aristocracies. Having killed the old aristocrats does not prevent you from becoming one yourself.

From renaissance,yes.In medieval times farmers were free.And in Poland most gentry cared about their serfs,althought do not treated them as equal.But - they were humans for them.

Peasants rebellions almost always failed,revolutions was made by rich.And those rich becomed new aristocrats.

Killing old aristocratc - in medieval times it not happened.They lost power and most lands,but that was all.You need revolutions made by rich for that.

Yes, basically.
Currently we have a crop of degenerate aristocrats trying their best to ruin humanity.
I wouldn't call them elite though, because of how pathetic they are

Agree.I hope,that their bodyguards would do smart thing and kill them,taking part of their riches as payment.

 

[Battlegrinder]

I don't think you could ever find a consensus among economists that you need less consumer spending in a recession; the opposite is entirely how you stop one.

I've yet to see any economist go out and claim this is actually good, all of them, including multiple democrats and former economic advisors to democrat officials, have said its very likely going to make the problem worse.

Specific to this issue, however, there is no inflation effect to be caused by this policy at all. There's been a payment pause since 2020 under Trump, this is a formalization of the existing situation, nothing more.

No it isn't, this a totally different thing. "We're pausing repayment on this, but you will still have to pay it back eventually" is going to have a very different response compared to "everyone else has to pay this now, you can go ahead and spend as you want without this concern".

 

[Blasterbot]

The problem is right now we're in a recession, not a depression, and increasing the money supply and consumer spending is the exact opposite of helpful in a recession.

the difference between a recession and a depression is a matter of scale and if it is global. if this keeps up and other parts of the world get hit similarly it may actually end up being a depression.

 

[Sobek]

The Biden Strategy now to push for Student Loan Forgiveness is to... Shame Republicans opposing it who got the free debt wipe.



Amazing. I love the $100% real engagement by 101% real people all posting Dark Brandon memes. And of course they don't understand at all how this point not only answers nothing but also doesn't work as a "no u".

Also I just noticed this, but when browsing twitter it always pesters me to make a account to continue browsing when I look at replies... But it doesn't when I am looking at the White House replies...