While we were busy being horrified by the Harris-Trump race.....

irishmolly72 · 2024-10-30T17:27:35-04:00

Government - While we were busy being horrified by the Harris-Trump race..... (Quote) - Douglas... (88 replies).

Friday witnessed the launch of another shameless, unethical, unlawful Biden student loan policy. Specifically, loans are forgiven in the presence of “hardship,” which is identified by two provisions. The first cancels debt when the Department of Education predicts that the borrower is at least 80 percent likely to default within the next two years. THE DEPARTMENT OF EDUCATION!!! Is there a worse financial institution on this planet, less to be trusted to assess default risk, than the Department of Education?

The second is a real knee-slapper. Hardship is divined by looking at 17 “non-exclusive factors,” including one factor that the Department itself calls a “catch-all” to “preserve the Department’s flexibility” to forgive debt. This is a joke. A blatant, corrupt, wrongful joke.

- Douglas Holtz-Eakin, economist

OK... so the more likely the student is to default, the more likely they are to get free money! YAY! Great incentive for everyone to select a major wisely and become a productive self-supporting citizen.

We recently estimated the President’s new student debt cancellation plan would cost between $250 billion and $750 billion over a decade

https://www.crfb.org/blogs/how-much-would-student-loan-hardship-provision-cost?utm_source=American+Action+Forum+Emails&utm_campaign=34696190cb-EMAIL_CAMPAIGN_2020_11_19_05_40_COPY_01&utm_medium=email&utm_term=0_64783a8335-34696190cb-471107068

So, what's $750 billion among friends???? Compared to our ~$36 Trillion in debt it's just chump change I guess.

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SunshineGirl · 36-40, F

Hmm . . the idea of a "productive self-supporting citizen" is an interesting one.

People need support at different stages of their lives. A career path that appears rational and lucrative now may be completely transformed by technology in 20 years time and the holder of student debt may require assistance to retrain. People make mistakes. Should they just be abandoned? It is easy to be wise in hindsight or smug if everything has worked out well for you.

In my opinion spending tax money on education so that people can experiment and take risks is a much better investment that the vast sums that will be wasted on Trump's proposed trade tariffs.

Convivial · 26-30, F

@SunshineGirl or in short, it's hard to be creative when you're starving....

whowasthatmaskedman · 70-79, M

@SunshineGirl The idea of a self supporting citizen has been suplanted by the notion of a community or civilization, where people specialize and share that knowledge or skill with the tribe or other group. Without that you have everyone weaving their own clothes and throwing their own pots. No teachers, no Doctors and no police..😷

irishmolly72 · 56-60, F

@SunshineGirl Like, when was "gender studies" ever lucrative? LAMO 🥴

Reason10 · 70-79, M

@SunshineGirl In my opinion spending tax money on education so that people can experiment and take risks is a much better investment that the vast sums that will be wasted on Trump's proposed trade tariffs.

This is how we can tell you were socially promoted in an inferior blue state school.

A TARIFF is not a government expenditure.

Your food stamps, your Section 8 housing, your WELFARE CHECKS, those are government spending, and make up 70 percent of the federal budget.

A TARIFF basically is a TAX placed on an imported good. President Trump very skillfully THREATENED shitholes like China with tariffs, in order to stop that country from ripping us off and violating international trade law. If China uses SLAVE LABOR to produce shoes that undercut American shoe manufactures, a TARIFF evens the score.

I know the SLAVERY bit doesn't bother you because you're a DemoNazi. And

whowasthatmaskedman · 70-79, M

@Reason10 I am sure it must be fun rewriting history like this..😷

MethDozer · M

@Reason10 countries don't pay the tariffs. So no it doesn't even the score. It's paid by the importer, not the exporter, and it's passed o to the consumer. So all tariffs end up doing is screwing the consumer.

Reason10 · 70-79, M

@whowasthatmaskedman I was educated in red state public schools. I didn't rewrite any history. I merely showed the FACTS, whether you Nazis like them or not.

SunshineGirl · 36-40, F

@irishmolly72 Well then, think instead of degrees in modern languages, mathematics, anything from "Trump University" . .

SunshineGirl · 36-40, F

@Reason10 If people are left poorer as a result of higher prices, if large sectors of the economy (such as agriculture) have to be compensated for the damage to their trade, then yes the taxpayer will have to foot the bill.