Vivek Ramaswamy

[UsualName]

It was/is money that was due back into the public coffers that will not arrive back there.

Whether taxes go up or not, is neither here nor there in regard to whether it is a loss to taxpayers. Taxes may - for example- not go up because revenue is received from other sources or because congress cut other programs. It like having someone owe you 100,000 and not pay it and then tell you that you are no worse off because you made an additional 100,000 recently. Ah, no.

Stick with your Funny Money Dem accounting. It is what your ilk does.

Remember the Infrastructure Bill where Pelosi and Watters and your ilk kept trying to market it by saying "it cost you nothing because it has all paid for." Meaning that they were proposing to enact taxes with it so it in fact nets out and costs nothing. Can't make this sh#t up. More Dem "accounting."

Well I got the accounting down, it was you who claimed otherwise. While you’re mad about it, I actually helped you to understand the mechanics of the program - which will have no impact on you paying for it because the proverbial you already paid for it. You’re welcome even though you’re mad.

But this does beg the question, why are you mad?

For me, this is not an ideal solution to the student debt problem - which is a rea problem that is a drag on younger people and has important negative consequences like decreased marriage rates, lower home ownership rates, and genera life affordability.

And I get you’re going to say something like democrat cities or democrat colleges or something else to blame democrats for the student loan debt problem. But that doesn’t address the problem it’s more of the same - you’re mad about something so you’re taking it out on young people.

This needs a solution whether or not you recognize it. It is a national issue that is having a negative impact on the country as a whole. We need young people to start families and marry or the consequences of not will actually weaken the country.

My ideal solution is zero interest rates on loans up to something like $40k, spread it out over 30 years and everyone can walk away with head held high.

 

[TreeFrogTrader]

Well I got the accounting down, it was you who claimed otherwise. While you’re mad about it, I actually helped you to understand the mechanics of the program - which will have no impact on you paying for it because the proverbial you already paid for it. You’re welcome even though you’re mad.

Oh, I see the mechanics of the "program."

VooDoo Accounting.

The Supreme Court will be doing Joe a favor to shoot his executive order down.

Not the most popular way to go. "Working Class Joe" out there explaining why Joe the Plumber is paying for your ilk's Trangsender Studies degree.

Not referring to you because we know that you studied Finance down at Shopping Mall Community College, and it shows.

Just to keep this somewhat on the topic of the thread, let us just say that Vivek will have this as an issue and if Joe tries to go further with it, he will be able to articulate the scam very effectively to the voters, even though he himself may not be the nominee.

 

[Ricter]

Oh, I see the mechanics of the "program."

VooDoo Accounting.

The Supreme Court will be doing Joe a favor to shoot his executive order down.

Not the most popular way to go. "Working Class Joe" out there explaining why Joe the Plumber is paying for your ilk's Trangsender Studies degree.

Not referring to you because we know that you studied Finance down at Shopping Mall Community College, and it shows.

Just to keep this somewhat on the topic of the thread, let us just say that Vivek will have this as an issue and if Joe tries to go further with it, he will be able to articulate the scam very effectively to the voters, even though he himself may not be the nominee.

"Working Class Joe" out there explaining why Joe the Plumber is paying for your ilk's Trangsender Studies degree."
This is a continuation of Reagan's "welfare queen" nonsense. But it does appeal to you and your "ilk", doesn't it?

 

[UsualName]

Oh, I see the mechanics of the "program."

VooDoo Accounting.

The Supreme Court will be doing Joe a favor to shoot his executive order down.

Not the most popular way to go. "Working Class Joe" out there explaining why Joe the Plumber is paying for your ilk's Trangsender Studies degree.

Not referring to you because we know that you studied Finance down at Shopping Mall Community College, and it shows.

Just to keep this somewhat on the topic of the thread, let us just say that Vivek will have this as an issue and if Joe tries to go further with it, he will be able to articulate the scam very effectively to the voters, even though he himself may not be the nominee.

It wouldn’t hurt you to take a few college courses. Perhaps you would not be so easily manipulated by the likes Vivek Ramaswamy.

All I can do is try to help you see things from an objective position. It is true plumbers don’t get bailed out and farmers do. It’s tough being the regular middle class family in America.

There is a legit argument related to fairness though, which is just about the only legitimate point you’ve made on this subject.

 

[TreeFrogTrader]

There is a legit argument related to fairness though, which is just about the only legitimate point you’ve made on this subject.

Yeh sure Cowboy. If you just ignore the larger point being made about it being within the scope and jurisdiction of Congress rather than the political whims of Biden.

Maybe if you cross your fingers and sacrifice a couple chickens, the Supreme Court will not notice that little point as well.

 

[UsualName]

Yeh sure Cowboy. If you just ignore the larger point being made about it being within the scope and jurisdiction of Congress rather than the political whims of Biden.

Maybe if you cross your fingers and sacrifice a couple chickens, the Supreme Court will not notice that little point as well.

The major question doctrine is the most likely route if you can get past standing, which the complainants did not. However, MQD is not a gimme either. Don’t get me wrong, I have no doubt this court will issue a flawed opinion with a disclaimer though. It’s their way.

As I have said before, I am not a big fan of this action Biden is taken. I would like to see another route but something has to be done to get these younger Americans on a better path to marriage and family. This debt is absolutely destroying younger generations.

 

[TreeFrogTrader]

The major question doctrine is the most likely route if you can get past standing, which the complainants did not. However, MQD is not a gimme either. Don’t get me wrong, I have no doubt this court will issue a flawed opinion with a disclaimer though. It’s their way.

As I have said before, I am not a big fan of this action Biden is taken. I would like to see another route but something has to be done to get these younger Americans on a better path to marriage and family. This debt is absolutely destroying younger generations.

The original lending program and/or going forward should allow the debts to be discharged in bankruptcy. Ditto for credit card debt. It sounds like I am advocating a lack of responsibility by borrowers. I am not. There must discipline with a lending program whereby the lenders suffer or bear the burden along the way, and that serves as a brake to prevent a larger disaster from happening.

That was at the root of the financial crisis too. The lenders knew all those loans were bogus and not supported by creditworthiness but they were off the hook. Write the loan bundle it into a security and off we go. No looking back or clawback.

I absolutely agree that we should not be creating a generation of indentured serfs who have no way out. Those programs would have come to a screeching halt way back if lenders or colleges shared in the loss. Doesnt mean there would not be student loans. Just means the students and the payback history/future income of various degree programs would be factors, duh.

 

[UsualName]

The original lending program and/or going forward should allow the debts to be discharged in bankruptcy. Ditto for credit card debt. It sounds like I am advocating a lack of responsibility by borrowers. I am not. There must discipline with a lending program whereby the lenders suffer or bear the burden along the way, and that serves as a brake to prevent a larger disaster from happening.

That was at the root of the financial crisis too. The lenders knew all those loans were bogus and not supported by creditworthiness but they were off the hook. Write the loan bundle it into a security and off we go. No looking back or clawback.

I absolutely agree that we should not be creating a generation of indentured serfs who have no way out. Those programs would have come to a screeching halt way back if lenders or colleges shared in the loss. Doesnt mean there would not be student loans. Just means the students and the payback history/future income of various degree programs would be factors, duh.

At least you recognize there is a problem. I don’t agree with your solution but it’s something and that says a lot.

As an aside, I read somewhere some time ago that credit card companies have insurance on their loans and when discharged it pays out. Not a bad idea if colleges had to take out something like that.

 

[TreeFrogTrader]

As an aside, I read somewhere some time ago that credit card companies have insurance on their loans and when discharged it pays out. Not a bad idea if colleges had to take out something like that.

They can sell the debt at a discount in the market too. So they take a loss because they have to discount it to the buyer but they do not take a total loss. The buyer of it gets it at a deep enough discount so that he/their company make a profit but also at a deep enough discount that they they believe they can collect on it or let the borrower settle out at a much smaller price.

It's a way of making every at least partially responsible and able to get out with some pain. Maybe put provisions in where the college has to offer to participate with a writedown of some percentage of their charges.

 

[Ricter]

At least you recognize there is a problem. I don’t agree with your solution but it’s something and that says a lot.

As an aside, I read somewhere some time ago that credit card companies have insurance on their loans and when discharged it pays out. Not a bad idea if colleges had to take out something like that.

All lenders have insurance of some sort, and it's built into their interest charges. So not only do they want a return on their investment, they want the borrower to pay for that insurance, AND if there's a default they want government to bail them out. Yet they claim what they do is risky!