"Don't Need Congress - Just Flick Of Pen": Schumer Demands Day 1 Biden $50K Student Debt Cancelation

I paid off my loans but I hope Biden does it.Conservatives can donate the money they saved back to the government if they wish,lets see how many do so.
 
Wallet said:
https://www.zerohedge.com/political...mands-biden-cancel-50k-student-debt-all-day-1

Government already has a free college education program.... it’s called the G.I. Bill.

How about repaying everyone who worked and paid off their college debts, or the poor souls who couldn’t afford a college education who’ll be paying the taxes that pays for this type of crap.

More Liberal bullshit.
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flick of a pen reallocated defense funds to a useless wall. At least Biden will be building something of substance here.
 
Still think it is a mistake to write off debt incurred by people who thought it was smart to spend $60k on an English or History degree and then were shocked they leave school to make $25k a year.

Real easy to offer deferrments and forebearance programs rather than simply forgive it outright with no consequences. teaches them nothing and does not punish the schools for charging so much and for parents for lack of financial acumen.
 
Question is if Biden does it how many conservatives will turn it down:cool:

Millions of hypocrite conservatives depend on Obamacare for healthcare but still vote republican:rolleyes:
 
El OchoCinco said:
Still think it is a mistake to write off debt incurred by people who thought it was smart to spend $60k on an English or History degree and then were shocked they leave school to make $25k a year.

Real easy to offer deferrments and forebearance programs rather than simply forgive it outright with no consequences. teaches them nothing and does not punish the schools for charging so much and for parents for lack of financial acumen.
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I'd be with you if we held "too big to fail" companies to the same standard
 
Here4money said:
I'd be with you if we held "too big to fail" companies to the same standard
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Kind of an apple and orange comparison you're making, but you are correct, corporations that are failing should not receive bailouts. Problem is we have a government causing problems which lead to economic distress, then want to come to the rescue with taxpayer dollars. Who gets shafted? The little guy of course.
Same thing happening with college degrees. Average kid is browbeaten by politicians and teachers into college enrollment whether the kid is prepared for that or not. College courses made easy enough anyone can get a degree and they're left with a mountain of debt and a useless degree. Now who comes to the rescue again? With taxpayer money again. Round and round we go with a government causing the problem and then claiming to have the cure, on someone else's dime of course. Once again we see congress was, is and continues to be the problem.
 
CaptainObvious said:
Kind of an apple and orange comparison you're making,
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How so? Companies make shitty decisions that put them in debt, college kid makes shitty decision that puts them in debt. It's as apples to apples as it gets.
 
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Here4money said:
I'd be with you if we held "too big to fail" companies to the same standard
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Well it is different.

Corporations did not borrow from the government, they borrowed from banks and could take down several at a time. The banks should be punished because they lended without due diligence but government is bad at doing that.

A corporation could employ thousands of people and could literally be too big to fail. However the government simply hands them money and the leaders get rich while they lay off people. the government never changes their approach and the corporations never learn. But they are trying to stop a greater harm and they just do it the wrong way. So bailouts are just as wrong because they are never done the right way and the people are never punished. This is the biggest waste of tax payer's money to be honest.


An individual is not going to take down an economy. Also I said they can do forebearance and deferments and work with the borrower or even write off a small portion. No need for a handout, just work with them so they learn the lesson and pass it on to their kids. But writing it off in one swoop does nothing for the individual or the perpetual cycle of overpaying for useless degrees or for degrees with earning potential less than the cost of education. it does nothing to change the higher prices of education.

Corporations get away with it because politicians are just big pussies and will never put conditions on the bailouts or increase their taxes.

College graduates also don't deserve the kid glove treatment and we should not say:

"You went to a $50,000 a year school and majored in History and are now working as a secretary/assistant making nothing? No worries...we will just write it off....
 
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Here4money said:
How so? Companies make shitty decisions that put them in debt, college kid makes college decision that puts them in debt. It's as apples to apples as it gets.
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A kid can be handled and dealt with and the debt can be worked out rather than just be given a pass.

As for corporations, the leaders should be fired and instead of a bailout a fund should be created to give a fail payout for 10 years to every employee.. still cheaper than a bailout to the wealthy directors.
 
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