@THEMUGG
Not that I totally agree with this legislation because I don’t ! But it’s funny that loudest group of congressional protesters were first in line and accepted hundreds of thousands of PPP loan forgiveness money ! More than 90% of those loans issued have been granted full or partial forgiveness. That includes loans to companies with mega-rich owners. Now 3 years later the PPP program seems to have resulted in billions of dollars of fraudulent loans that have ultimately turned into grants ! According to Steven Mnuchin at the time stated “ the majority of this money is going to be forgiven in the next few months, and that's our intent," adding that "I'd like to make this as easy as possible." 800 BILLION dollars Come and get It!
This the same Steve Mnuchin who is worth more than 300 mil that wanted a “ Take about Balls “ government jet that had a operating cost of 25 thousand dollars per hour to take his wife on their honeymoon in Europe ….nice perk!
So what is the issue about forgiving student loans? Isnt the value of higher education for the younger new workers class an investment in the future for the country? There are pretty strict rules on what income the family has to fall under, the limit is 10k and is a one time thing. What exactly is wrong with this when the freebies to corps and private groups, to countries for war or favors we dont even blink an eye over?
Not sure how education costs are for you and your kids and their kids but down here the state allows a 4% increase in tuition every year and the cost for a single year of education at a state school is 11k plus books and fees, that is not room or food it is only tuition. A 10k "freebie" is not some ground breaking destructive gig, I seem to notice that the government gives more for the purchase of a stupid EV than to offset a small piece of higher ed costs.
Nice title too, adding great value to discussion...and to think some of you complain about Trump names yet are so quick to do the same yourselves to the other side.
@wallstreetcappers
Thank you.......I acknowledge that.
The problem is that we're mired in debt as a country, & this does nothing but exacerbate it. It does nothing to benefit the economy as a whole. I paid as much as I could towards my daughters' tuition, the rest she took out a loan for........& paid it back within a few years of graduation. Are we going to see any of this handout? No. How about the kids five years from now? No. Instead, we the taxpayers, are put on the hook to help cover this ONE GROUP. Just a note, DJ.....YOU'RE EMERGENCY IS OVER! If your economy is so fuckin good, why does anyone need a bailout?
If he wanted to get to the root of the problem (why would he 
), try enacting some legislation to limit what colleges/U's can gouge people for an education. Most places get millions, even billions, in endowments every year......there's no need to charge what they do.
If the college "students" majored in anything worth a damn & were taught any principles growing up, they'd have the means to repay their loans, which is how it's supposed to work & has for many years.
Joe who was estimated at a worth of 2.5 million when he was vice president now is estimated at a worth of about 9 million...that's a pretty big leap....imagine a politician paid by the people having that kind of worth....not bad for never owning or operating a business...
@THEMUGG
Of course I agree with the cost issue, I have made those same comments as you know many many times. I consider this freebie to be a better use of debt than say what Trump did giving corps a tax holiday allowing offshore untaxed profits to come home, that helped nobody but shareholders and execs. To me since politicians spend and its just a matter of which pot they throw the debt into, I would pick programs like this every single day than freebies for corps or wars or weapons or handouts for other countries that do not need it MORE than citizens here who are paying for those things.
Id like to see secondary education cut down by a year to two by eliminating stupid generals. There are students in our district here that can take undergrad classes in high school and finish faster for a bach degree. There are several students I know who will get their 4 yr degree in 2 years and save thousands by taking AP classes and dual credit which some districts support.
@ABooksNightmare
It is really worse than that. He has never done as well as many others while he was in the Senate. His wealth rose way out of proportion from those days once he became Vice-President and President.
For example:
Sen. Joe Biden, D-Del., chairman, Senate Foreign Relations Committee.
Earned income: $185,700.
Honoraria, all donated to charity: $800.
Major assets: Bank accounts and life insurance policies, $19,000-$110,000; three bank accounts held jointly with his wife, $3,000-$45,000.
Major sources of unearned income: Life insurance dividends, $1,000-$2,500.
Major liabilities: Loan against life insurance policies, $15,001-$50,000; lines of credit, $114,002-$300,000; credit union note, less than $10,000.
Narrative: Biden is seeking the Democratic nomination for president in 2008. His 2006 income included his $165,200 Senate salary and a $20,500 teaching stipend from Widener University, where he has been an adjunct professor in the law school since 1991.
His wife, Jill, teaches at Delaware Technical and Community College, but Biden is not required to report her salary. Jill Biden's assets, which include money market funds, real estate trusts and a pension fund, are worth $40,000-$250,000.
Biden's honoraria was for an appearance with comedian Bill Maher. He has a contract to write a book and received $112,000, half of his advance, from publisher Random House in 2005.
And:
With a net worth between $59,000 and $366,000, and almost no outside income or investment income, Biden was consistently ranked one of the least wealthy members of the Senate. Biden said he was listed as the second-poorest member in Congress; he was not proud of the distinction, but attributed it to having been elected early in his career. He has said he realized early in his senatorial career how vulnerable poorer public officials are to offers of financial contributions in exchange for policy support, and pushed campaign finance reform measures during his first term.
So, a guy was telling me when Biden ran for President in 2008 how he could not understand how someone his age, and in his position, could only have, maybe a net worth of $400,000. He said no way he wanted someone that is that bad with finances running the country.
At the time I told him that was not fair. That if he was just earning a Senator's salary and not investing at all -- that maybe that was not that bad. Because a lot of people never invest, or at least not well.
But thinking back on it now, he sort of had a point.
But I wonder what he is thinking now since Biden has really turned his 'investments' around.
Gee, funny how it was crickets when Trump cranked up yearly farm subsidies from $4 billion/year to $20 billion/year when his braindead tariffs put thousands of farmers out of business. Isn’t that the very definition of socialism?
Where were the debt limit showdowns from 2017-2020? Oh that’s right, there were none, while Team Dotard cranked up deficit spending to record levels.
It’s bs like that that has me prefer the actual fiscal conservatives over the fake ones like Team Trump and Spendy McCarthy and Space Laser Large Marge.
It's time for politicians to step aside. It's proven that the system in place doesn't work too well. In theory, it was a grand idea but it lacks practicality. Too many puppets. Let's face it, the businesses that hold the money are running the show anyway. Those businesses are funding the political show regardless of which side is in charge. The influence is too great.
Call it what it is and it is a business. Political figures are in charge of people, money and decision making that impact others. Sounds like a business to me and should have people in charge that know about running and operating a business. Being a political figure in today's day in age is pointless. What the country needs is good business people running the country and a talented board of directors to facilitate business needs in areas of expertise. A majority wins on decision making through a board. If you took an assessment of most of these politicians you would find that most don't know anything about running a business or how to effectively get things done. Bickering and pointing figures at others is not how a successful business runs and operates.
I'm all for turning around how we currently view our said politicians but nothing will change and we will continue doing things as normal even though most know it is broken. Change is needed and it's not just the people that need changing, it's the system in place. Any savvy business person can see what's going on politically. Who and how does one initiate this change that is desperately needed. Right now the whole thing is complete nonsense.
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@wallstreetcappers
What about people that didn't take student loans? What about students that went to trade school, do they get 10k towards their tools? What about students that went to school part time while working full time so they didn't take on massive debts? Do they get 10k too? What about students that did not attend college because the costs of higher education was too high? Do they get 10k?
Lets be real. The whole "cancel students debts" is just grandstanding to buy votes. Setting people up for disappointment when it never comes to fruition. This will be used next year when it comes time to vote. People will get their hopes up, they'll vote blue, and then those people will just be ignored after the election and the debts will still be there. If these students were smart, they would have been paying the debts down while the payments were frozen and hopefully the banks allowed payments to go 100% towards principal. IMO, instead of cancelling debts, the interest should only be 1% for the reaming loans. Screw the banks gouging students through interest rates.
But don't worry. Inflation is transitory, there will be a soft landing, the job market is strong (but hey, lets still cancel debts), the US is not in a recession, the fed has infinite liquidity, the stock market is perfect and completely trustworthy, and climate change is going to end the world soon anyway, right?
I totally agree, when Trump cranked up farm subsidies to $20+ billion year, it was a scheme to buy votes. Man, woman, RAMP! (Must go slow!!!), camera, WATER (two hands, two hands) Dotard.
The far right is furious about how Joe Biden handed them their asses. So they got outmaneuvered by a man with dementia? Sounds like they aren’t very good at critical thinking to me then.
@BigGame90
I am one of those who did not saddle loans and worked through college...it took me longer but I did not have debt coming out.
What about the people who do not own an EV, what is fair for them? The point is debt is used to grease the wheels for whatever causes are out there and this is just one of those. I would rather take 10k for student loans than 20-30k for an EV....I would rather 20k for student loans than what Trump did giving a tax freebie for corps...that was brutal.
Just gotta love the news media;
FORBES; TRUMP'S TARIFFS WERE MUCH MORE DAMAGING THAN THOUGHT!
FOREIGNAFFAIRS; THE LESSONS OF TRUMP'S DISASTEROUS STEEL TARIFFS!
CNN; TRUMP ESCALATES CHINA TRADE WAR WITH TARIFFS ON $200 BILLION!!!
REUTERS; TRUMP'S TARIFFS COST U.S. COMPANIES $46 BILLION TO DATE, DATA SHOWS.
TAXFOUNDATION.ORG; TARIFFS IMPOSED BY TRUMP ADMINISTRATION. The Trump administration has increased taxes on Americans by imposing nearly $42 billion worth of tariffs.
WOW, TRUMP SOOOO BAD!!!!
2022, CNN; WHY BIDEN IS KEEPING TRUMP'S TARIFFS IN PLACE.
Agree, the tariffs are the products of idiots like Trump and Biden. That’s why I’m not a fan of either of them, but Team Red automatically name calls any Trump criticism as coming from LIBRULS. 
POLITICO 2019; TRUMP THINKS TARIFFS WILL ADD U.S. MANUFACTURING JOBS. ECONOMIC REALITY SAYS IT WON'T
https://www.politico.com/story/2019/08/21/trump-tariffs-bikes-manufacturing-1470361
POLITICO 2021; WHY TRUMP'S STEEL TARIFFS ARE NOW BIDEN'S POLITICAL HEADACHE.
https://www.politico.com/news/2021/09/06/steelworkers-biden-tariffs-503185
The European Union wants the tariffs gone, too, and is ramping up pressure on Biden to lift them. But scrapping the tariffs entirely, even for Europe, without installing alternative protections for U.S. steel producers risks angering union voters like Thompson ahead of the 2022 elections.
“I’m pretty sure that our union leadership is telling him the right thing to do is to make our industry stronger and better,” Thompson said in an interview. “If he goes against that, then it has to be a very good reason why.”
As a result, some steelworkers are concerned that rushing into an agreement with Europe could come at the expense of domestic steel producers and their union workers, whose support for Biden in key swing states helped propel him to the White House.
“The Biden administration understands that simply lifting steel tariffs without any solution in place, particularly beyond the dialogue, could well mean layoffs and plant closures in Pennsylvania and in Ohio and other states where obviously the impact would be felt not only economically but politically,” said Scott Paul, president of the Alliance for American Manufacturing.
But he hasn’t touched Trump’s tariffs on steel and aluminum imports, and members of his Cabinet have gone so far as to praise them. Pressure from unions is a key reason why.
Yes, what a "headache". How do you please Europe while screwing Americans and not be seen doing it? Damn, Trump saved union jobs. What a headache!!!
No plan is fool-proof, & you're never going please all the people all the time. I'm sure those that stand to gain from having some of their student debt erased are happy with the idea. But it's not sustainable or equitable........ & lets face it, many of those struggling with student debt will likely continue to struggle due to their choices.
@THEMUGG
On the topic of secondary ed, the financial aid based on merit down here has declined over the last ten years. I know a kid who got decent grades and had the Arizona presidential scholarship, that is considered the higher rung and it means that the student got an unweighted like 3.8 GPA and an ACT of likely 32 or higher, back less than ten years ago this meant you had full tuition covered and some left for books and fees. That same scholarship NOW, this year covers about 60% of tuition but not books or fees or living costs. So someone with great grades and scores on the exams (SAT or ACT they take either) get like 7k a year and that covers in total Id guess 55% of total costs if you hunt for good deals on books and are frugal. Also it used to be that National Merit would be included plus scholarship. I have some friends whos son (and I know him he is doing well consulting for Bain Group) and he got National Merit and the higher tier scholarship, this was five years ago and combined that covered his tuition, fees, books and enough to cover 50% of living costs. Now you cannot claim both, if you get NM they reduce your other scholarship. I also know a kid who got NM and went to Pomona which is a specialized Econ based school in Calif, even with the best scholarship his family out of pocket was 20k a year. They also did not accept any AP credits or dual credits you had to take every single stupid class.
I also did a looksie last night on how much the Masters program here is and for an in-state kiddo if you take a two year masters degree it will run you 25k in just tuition and they estimate on the ASU site that living costs, fees, books blah blah would run 40k a year, so 80k for a masters degree. How can anyone afford that? Even with a scholarship if a kiddo now wants to get a masters degree they will be 100k deep unless they have wealthy parents or work and take longer.
10k reduction in debt is not giving the easy life, it barely makes a dent. I went the CC route for my first two years to reduce costs but it took me longer from working. Would we rather have students graduate in 6-7 years and work, then enter the workforce 2-3-5 years later or would it be smarter to help them get the higher ed needed to survive in the tech economy we have now? Even trade schools are not cheap...but some trade schools will be helped by apprentice programs that SOME corps will offer with the stipulation you have to work for them for like 5-10 years after...which is like the military where you pay off the benefit by service.
I would suggest that the solution is to offer a tuition benefit based on public service, community service where while going to school the student has to spend 20 hrs a week in specific structured community service that is run by the local government not some corp or some open ended plan that gets abused. Then after the undergrad is done they have a monthly commitment of service for another five years after, similar structure.
Kids going through college now have it ROUGH the market is so competitive and cost of living is very high, they have to make 75k plus to afford a house, pay off a loan or try and save a little and live a reasonable life. We cant just say screw higher ed because it costs too much, if anything we should make it easier for a structured reduced higher ed experience..like a 3 year bach degree and a 5 year masters, or even a 2.5 year bach.
@wallstreetcappers
No doubt it's rough on recent grads, even more so than just 10 years ago. Inflation hits everything, & it didn't just start 2 years ago for many things. My daughter had a small academic scholarship & yeah, it's not like an athlete getting a full ride. The cost of ANY type of continuing education has gotten extreme, imo.
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