Buy votes, create disparity and divide people, that’s what democrat policies are designed to do. Joe Biden follows the playbook by cancelling $10k to $20k in student loan debt for those who have federal government loans. Students with private loans backed by the federal government are not eligible.
Additionally, Biden has extended the “COVID emergency payment moratorium” through the end of the year. No one with a federal student loan needs to restart paying until after the midterm election, in 2023. [White House Fact Sheet Here]
If the economy is doing so great, then why the need for bailouts?
WASHINGTON (AP) — President Joe Biden on Wednesday announced his long-awaited plan to deliver on a campaign promise to provide $10,000 in student debt cancellation for millions of Americans — and up to $10,000 more for those with the greatest financial need — along with new measures to lower the burden of repayment for their remaining federal student debt.
Borrowers who earn less than $125,000 a year, or families earning less than $250,000, would be eligible for the $10,000 loan forgiveness, Biden announced in a tweet. For recipients of Pell Grants, which are reserved for undergraduates with the most significant financial need, the federal government would cancel up to an additional $10,000 in federal loan debt.
Biden is also extending a pause on federal student loan payments for what he called the “final time” through the end of 2022. He was set to deliver remarks Wednesday afternoon at the White House to unveil his proposal to the public.
If his plan survives legal challenges that are almost certain to come, it could offer a windfall to a swath of the nation in the run-up to this fall’s midterm elections. More than 43 million people have federal student debt, with an average balance of $37,667, according to federal data. Nearly a third of borrowers owe less than $10,000, and about half owe less than $20,000. The White House estimates that Biden’s announcement would erase the federal student debt of about 20 million people. (read more)
We can count on another trillion plus in inflation.
Buckle up, the rides not over yet.
The Communist Democrat Party are grabbing every last stack of $$$$$ they can before a SANE electorate puts an end to this in November. And trust me … the spending between November and February is gonna SHOCK even the eternally jaded.
Another promise for vote.
Recall some dem jackass texting me vote for Joe cause taxes not going up if combined income is under 400k.
When does the lying stop?
I don’t see this as having much to do with how people are going to vote. Best case scenario is it will be a wash with the voting public as plenty of Dem voters paid off this loans and won’t be happy about getting the hind teet. For others, the economic pain will still be very real, and if they weren’t paying their loans anyway it won’t be much help towards that end. For those that are paying their loan’s off and not in default, that means they attended college fairly recently, and managed to at least get a job and are trying to be responsible. For those, 10 grand isn’t going to go very far based on average outstanding loan totals per student, so that’s another swing and a miss.
What I do see this as having to do with is spending this country into oblivion. Forcing a reset upon everyone do to total economic collapse.
A jubilee for the majors in underwater basket weaving, and history of woke transgender studies, isn’t going to swing any elections.
I had time to rethink their play here. Promise shi t that they can’t legally unilaterally grant. Have it overturned by the courts, pissing off all the people who were more than happy to pass off their debt onto taxpayers.
Now that will get people to the polls.
One thing that is certain. Nothing that these people running things done is for any well intentioned purpose. The crooks in office have one interest, and that is self interest.
It’s a big club, and you ain’t in it.
If this is legal, is it then legal for me to charge rent as follows?
$1000/mo if you did not receive student loan forgiveness
$1500/mo if you received student loan forgiveness
Pelosi is on record saying it is not legal. Waiting to hear from her once she puts the vodka bottle down…so might be a while, if ever.
I have read others who would know that he has no authority whatsoever to do this. But when has that ever stopped a Marxist Democrat.
I guarantee that Piglousy will find a way to flail her arms around and mumble some nonsense when asked about her previous statement.
If this gets to the Supreme Court it will most likely overturned. However , I guarantee that the “wide” Latino and the new woman who doesn’t know what a woman is will vote uphold this nonsense. 🤪
I don’t think they care if it is legal or not… As long as the people who are having their loans forgiven don’t find out it’s a scam until after the election….
Clay Travis explained it: Everyone knows it’s unconstitutional, but it won’t be resolved until after the mid term elections. That accomplishes buying a lot of votes in the meantime. It will eventually get drug up to the Supreme Court before the next presidential election. When the Supreme Court shoots it down, the democrats will use that as ammunition for the presidential election, saying how terrible it is to have such a conservative court. It’s all just a political game because everyone knows something like this must be passed through congress.
If the Potatus installed Thief says that the director of OSHA is going to be directly responsible for making sure the right people get the right payments, I think it will be safe to assume it’s all another scam.
Interesting times indeed.
Just thinking Bet next week we payoff student debt in Ukraine.
Oh joy!!! Betcha you’re not wrong either, Patrick
And we’ll be surprised to learn that with a population of 44 million +/-, that there are over 85 million Ukrainians that have student loans to pay off!
Many people don’t realize that student loans went to , bartenders, beauticians, lab techs ect. I’m sure there are plenty of those now, or that were, working in the Ukraine. So you are probably mostly correct. From the looks of things being a lab tech was a booming occupation over there.
Please do, you’d be completely justified.
MORE !!! Your rent can increase by $10k this month. That’s what corporate America does to the consumer when the government increases corporate taxes. So why not mom and pop landlords?
I’ve been paying mine throughout COVID, 200 a month because it comes right off the principal. For over two years. Still owe a lot. I guess I was stupid? It pays to not pay? What a crock.
Guaranteed Biden is sticking it to people in the fine print. You’ve done right to pay on the principal. Wait and see.
I took out Student Loans for my 3-kids … which I paid off on their behalf … the last of it retired last year … yes … taking advantage of a COVID interest holiday. I feel more sorry for you than me … because this is simply sick in the head. This goes against EVERY economic NORM and INSTITUTION in our Capitalist Nation
I also took out loans for my kids, PLUS loans which I don’t think are included in the payoff scam.
I’ve helped my kids with some of their payments also. Now I’m supposed to be excited because the government is going to pay part of their loans for me?
The government is getting the money FROM me. The colleges and the loan companies get their money. The taxpayers pay.
I opted out of the deference and every time it would set me back to deferred status. I made large payments to cover what wasn’t getting taken out after I gave up fighting my lender portal. But the money I would be forgiven is likely just going to inflate away in pay earnings that I get.
Gee Wally, isn’t junta rule swell!
Aww, knock it off, Beav, everybody knows it is just a vote buying scheme . . .
So what do you think, Eddy?
Me? Listen pal, if I was in college, I’d take out all the student loans I could get . . .
Golly Mr Clever, I already know everything there is to know
What about rebates for those that paid up ? -case dismissed -no standing because have no loan, So obviously logical can’t you see 😂 (sarcasm)
Rebates not likely. If one dug into the numbers, conservatives probably paid the debt at a higher rate than leftists. Regardless, nothing about me paying for somebody else’s kid’s beer and dope money while they were attending gender studies and other hate America bs just doesn’t cut it for me.
Yippee I get to pay for college a third time.
Ha! My 4th time … well 5th if you you want to count my one kid who went through college twice … Don’t ask.
I’m adopting my father in laws policy here “I don’t pay for re-work!”.
How is this legal? I thought the House has to appropriate funding for gov’t spending?
Just like they do for foreign aid to UKRAINE?
July 21, 2022 Zelensky and cronies passed a bill in Ukraine-
And gave themselves a
70% raise.
Disgusting.
isolati0nism is good
A lot of the money goes directly to US defense companies that give big, sweaty wads of cash to politicians who promote war. War is always a racket. Middle America needs to stop believing these warmongers who claim it’s all for some noble cause. Do not sacrifice your children to the globalists.
Another 3 billion in aid going to be announced for Ukraine (was supposed to be today) – this directly to US defense companies.
I’m sure that was just to help them pay off their student loans!
We all have to … *ahem* … sacrifice … for Ukraine or something. But college loan deadbeats don’t have to. They all get a 10% cut … like the Big Guy
This and the $3billion more going to Ukraine. Who holds the purse strings? Oh yeah, they don’t even show up for work. Coof and all.
This is coming out of the Covid Scam funds. Cities, States and individuals are still getting this money for various things
That’s my question. Where is Congress? We must have a king/dictator form of govt now. Since congress doesn’t do anything positive for the country, let’s do away with them. It’s just a huge money laundering scheme…..from the nation to them!
You are totally right. US House and Senate Republicans are feckless. We don’t need them like we don’t need
the Communist Regime in the White House. Look what the Commies have done to our Country after
being allowed to STEAL 2020 Election. They do nothing to help the J6ers either. The J6ers are treated inhumanely. How can the worthless Republicans go to work at the Capitol knowing the J6ers are being
treated just like China treats their prisoners. They are given slop to eat. No fruit or vegetables. They are
given sweets and cakes to keep up their caloric intake. They are chained to showers in the prisons.
WTF…..How is this allowed in the United States of America. Over something our great FBI created along
with the Capitol Police. Those Capitol Police don’t all look American. I believe they are criminals from
other countries.
Sad to say you’re right. Congress is all out doing what Congress does … raise money for their reelection … by sticking their tongues into every special interest orifice offered up for servicing. Yes … they’re all SELLING OUT America to the highest bidder.
Hey! If the POTUS and his “genius” son can do it and get off scot-free … then why can’t they?
Don’t make me laugh,gz9gig. You been traveling in The Wayback Machine these days?
And the looting of the treasury for the fallen empire continues.
Exactly.
Rome didn’t fall in a day but it did fall the same as we are now…
I watched a video of Elizabeth Warren being confronted by a father who worked 2 jobs, starting when his daughter was 10 years old so she could go to college.
He asked her if he was getting a refund.
She told him (rather snarky) – of course not.
His comments following that were -to the point.
She looked rather flustered after the exchange.
For parents like him, people who worked while they were getting a degree, etc., to avoid college debt – my heart goes out to you.
This is so wrong.
Not only are individuals who paid their way feeling figuratively raped but all Americans can rest assured that their taxes along with all the borrowed money are picking up the tab.
I don’t think that’s true anymore. The amount of taxes collected don’t come anywhere near what they give away. It’s just printed money now. There is no budget now so no way to know where money comes from or goes. Just keep printing.
Today’s grand prize goes to you as the exonomic analyst who has revealed truth.
Raise the Debt Ceiling Rap – again! (humor)
The original – just change the name of the groper to Biden
Which is why Pocahontas looked flustered and confused at that righteous dad. Because Warren knows, but righteous dad doesn’t realize we no longer live in the School House Rock How A Bill Becomes a Law republic.
Thing is, I am pretty sure many/most are unaware they have been getting drugged and raped every nite in their sleep, for years!
Heres the scam; graduate University, with say $100,000 in student loan debt.
Go to work as a buerocrat, in State or Federal Govt.
Not positive, but I suspect applies to munipal govt. as well.
Work for 10 years in Govt. service, and your student loan is ‘deferred’ as long as you are working in Govt., and after 10 years, it is “forgiven” entirely!
And, in fact at any point during the time you owe student debt, say you work in the private sector for 5 years, paying on your debt, and THEN go to work for the Govt, this scheme still kicks in for the balance.
So, its entirely possible that the likes of Fauci, Comey, McCabe, ‘the lovers’ Page and Stroxz, and all these graduates of Georgetown with degrees in “diversity studies” took advantage of the program.
And yes, “the AMERICAN Taxpayer” picked up the check, as just with Bidens give away, the debt isn’t “forgiven”, its transferred.
Once more they pound home the message;
“If you work hard and play by the rules, you are a SUCKER!”
The inevitable responce is to “drop out”, stop working and paying taxes, and become a “Dependant of the State” and vote for those who are promising “Universal basic income” and keep raising food stamp and other Govt. programs.
And yes, like everything THEY do, this sews division, and resentment, a KEY aspect of everything THEY do.
I wonder how the ChiCom peasants … who just had their bank accounts seized feel about this? Their government is propping up America’s $30T in debt. Now GIVE US ALL YOUR MONEY !!!
Starting with your 401(k).
It’s beyond WRONG … it’s CRIMINAL. We used to have debtors prison … now we have Lenders (we taxpayers) prison.
Not to mention all the working people who did not go to college. They will pay taxes for the sons and daughters of lawyers and doctors to get their useless degrees in gender studies or political activism. College is not about education; it’s about indoctrination.
Exactly. I worked 3 jobs in college to pay my tuition and living expenses. I had very little social life. Pinched pennies like crazy. Went without many things like cable, healthy food and trips home (couldn’t afford gas). I studied my butt off. Received many academic scholarships and came out of undergrad and med school with only $3000 in debt. Our daughter has her masters degree in geology during which she worked a part time job and we paid the rest out of pocket. Where’s OUR refund for being responsible citizens?!?!?
You don’t get a refund.
In fact, you get to pay even more Bidenflation and taxes to cover this
The Tree of Liberty needs watered.
There is no voting this out at this point!
Please, can you give us all some insights into exactly HOW “watering the tree of liberty” will IN ANY WAY address this situation?
Your wholesale dismissal of voting as a solution is akin to someone who’s car stops running, because the battery cable has come loose.
Having NO CLUE as to how their car works, and having coasted into a parking lot, they simply conclude their car is “dead” and abandon it.
Actually, before abandoning it, they set it on fire.
If your rrsponce to my serious query, is that you do not want to spell out, in a public forum, the details as to exactly HOW this “watering of the tree of liberty” will take place, or address the problem, because “they” are watching,….
That makes no logical sense, either. Simply by posting the quote, you and I have no doubt triggered an algorythm, and although Sundance has secured this website against tracing us posting comments, our posts have to travel over the Inet, to get to CTH.
Hence, if you truly have any plans, you are already on their radar.
Anyone who truly had plans for watering, would be really stupid to even lurk on this site, let alone post such a provacative statement, drawing attention to themselves.
Finally, I would point out that neither our host, nor PDJT have ever indicated
“there is no point in voting”,….quite the contrary.
PDJT is continueing to wager his and his families lives and fortune on pursueing a coarse of action in which VOTING is a key component.
So, in posting your comment, you are saying Sundance and PDJT are idiots, and that you know better?
If I may Dutchman…
The construct of this Republic is nulled. When an election is stolen, our voices are removed from governance, the Constitution no longer exist in any meaningful way.
When the executive mandates injections of an experimental drugs then absolves manufactures of liability and insurance companies alarmed that number of healthy adults and teenager die at 20-40% higher than before the jab…AND no one in Congress does anything but finger point, then we no longer have a Republic.
When SD shows us over and over the vast corruption this government enforces on its citizens then we have a representative cabal catering to THEIR needs over US…we are no longer in a Republic.
When 535 elected representatives do not write legislation and only job is to SELL Corporate interest to constituents, then we no longer have a Republic.
We McConnell funds opposition to Republicans seeking office to preserve his minority position then we have an abomination of a Republic.
Our civic duty is to be proficient with a pen as well as a rifle. I prefer the pen, however when our voice is nulled and this administration and Congress decides what my liberties and freedoms are then that tree only needs the blood of those imposing their will on us.
We’re in the space right now where people tried the last viable non-defiant option and watched it be wildly successful – only to see them cheat it.
That doesn’t mean violence has to come, but it does mean that defiance is a must. Voting is nothing more than abiding by the system and by all means, as is their right, try it…I wish them the best. But it won’t work.
It was illegal to steal elections in 2020, how many people are in jail or executed for doing so? Right.
We will win by defying, today maybe that’s just not taking a vaccine. Tomorrow, maybe that’s standing in a marching line with loaded rifles Lexington style…who knows.
Still, voting is pointless and a waste of time. Admittedly, a small one, since it only takes ~30 minutes. But that’s 30 minutes I’d rather use to take a nap for the coming fight than spend at my local post office.
Then don’t vote and be part of the problem.
That’s you. Me, I’d rather overwhelm the cheating- make them have to go so big no one can’t see it.
Mike, I don’t disagree. I took an oath saying as much. We’re not there.
Look around- too many morons who can’t see yet.
Question is what’s the tipping point?
US funded bio lab in China released COVID on the world. Locked their own people down but sent virus carriers around the world. Just in time for mail in ballots for 5 state legislatures to make stealing an election doable. In addition elderly virus murdered in nursing homes.
Dems calling for civil war.
2 billion dollars of destruction by BLM goons, bailed out by VP and democrats, then not prosecuted.
40 Republican incumbents leaving Congress in 2016. RNC not helping candidates and handed Dems house win. Then immediately planed impeachment inquiry denying the minority to cross examine.
Congress allowing whites to be called racist.
Mitch McConnell saying Republican won’t take the senate, so he can sell Republican votes to Democrats.
Congress allowing third parties to remove speech ending our right to verbally protest this government.
Destroying the energy sector so investors refuse to capitalize production.
The list is endless.
A quick answer. The electoral voting system is corrupted. I did not say “there is no point in voting”. Do not misquote. Right now the elites are almost in total control of the voting system. Depending upon the state, the system and Deep State are over writing the votes. The vast majority of the current voted in politians, are corrupted. How do you get pryed back out of their hands and control. There is no voting this out of their control at this point. Look at what is currently happening around you. Open your eyes.
Well said Dutch. But, glowies can’t help but glow. And, man, they are bright right now.
Where’s my free car, free house, and where’s my money for the student loans I paid back?
Lawsuit, lawsuit, lawsuit.
This is a big old meatball of an Equal Protection Clause violation as you will ever get because it ACTIVELY DISCRIMINATES against people who paid back their loans.
I think a LOT of people are going to be pissed, and there are going to be massive lawsuits in the $trillions.
Who are they going to sue??
Have you heard of a SINGLE administrative tactic offered by the GOPe to STOP THIS !!?? Nope. Just a lot of useless wailing and moaning. Where’s Mitch?
So his next step will be Democrats don’t pay taxes?
How is this legal. He is disregarding law.
I forget law means nothing
Joe Biden and his WH where shown to be completely lawless with the illegal political raid on MAL. Lawless indeed.
87,000 new ARMED Federal IRS Agents are gonna come collecting for this ‘FREE’ college tuition. But you’re right … only RED STATE taxpayers will be targeted.
This thing is coming apart at the seams. It is so so so sad to watch. I don’t know whether to rage or cry.
Rage!
Some one should ask him.. How do you explain to the millions of people
who worked two jobs, live within thier means. and did the right thing
to pay off thier Student loans, How is this fair to them?
Since when has any DNC giveaways ever been fair?
You know how I made it through college? POVERTY. Scholarships, Grants, and POVERTY. The last week of every month in college I ate Top Ramen for breakfast lunch and dinner. Oops … not really … I never ate breakfast or dinner.
Every American should immediately send an invoice to Biden and the IRS for up to $20K they have paid in Federal taxes….you know forgiveness. Flood ‘em.
Additionally contact your Senator and Representative to codify this into legislation as part of the ‘Avoiding Personal & Financial Responsibility Act of 2022’
Enraged
$10,000? The average debt for students is $28,950 and many owe $50,000 or more. Seems like a lot less than the Radical Left wanted and there is going to be a lot of disappointment among the young Dems come November. Total elimination of all student debt was the Communist goal and Biden came up short.
This is the 1st installment.
We are on the road to “FREE” college for all. Nevermind the HS graduation rate and test scores are the WORST in the HISTORY of America … Can’t master your last grade level? We’ll socially promote you to the next level. Did I say “socially”? I meant Socialistly …
The 5% cap on monthly payments is a huge hidden factor. Is it going to be permanent? Does it mean you can just take out any amount of loans, and attend college for any length of time, in exchange for only a 5% dent in your income later on?
Total elimination of the debt is still in the cards for the Dems….they do their best (s/) work during lame duck congresses. Remember Obamacare on Christmas Eve, passing? And, all student debts were taken over by Dept. Of Ed. within Obamacare…. I really think some “utilization” of students by the feds was in the works vis a vis their heavy loan load…but Hilary didn’t win in 2016…..
This is great that Biden accomplished this through the legislative process with debate and approval of the American people and not through executive decree.
Only brutal dictators rule through executive fiat.
Dirty little secret. The push is for private loans to be refinanced and maybe you’ll have them paid off.
So all those ppl who refinanced will get 10k paid, but now the bulk of monthly payment is interest. Again.
I got 6 years left, it was a hard pass.
The below figures from the Social Security Administration illustrate how manifestly unjust it is to be giving loan forgiveness to the highest earners in society:
Men with bachelor’s degrees earn approximately $900,000 more in median lifetime earnings than high school graduates. Women with bachelor’s degrees earn $630,000 more. Men with graduate degrees earn $1.5 million more in median lifetime earnings than high school graduates.
https://www.ssa.gov/policy/docs/research-summaries/education-earnings.html
Make no mistake, this is loan forgiveness for all of those with the $100,000 Hamburger Degrees. You know, the ones with the “humanities” degrees that are worth less than the paper their fraudulent achievement is written on. Communists gotta be communists.
I worked 2 jobs for 7 years to pay off $100k worth of student debt. I had no life in my 20s. I would go months at a time without a day off. Biden can kiss my ass.
Thank you for your honor and dignity. You are a great person.
Perhaps this a small consolation, but I hope it is more than that.
You honoured your commitment. You paid your debt. You can look at yourself in the mirror every day and know you have principles. And if you have children, they will know their father did the absolute right thing, and that his word means everything. There is no price you can put on that. I salute you.
By your fruits you will be known. That’s the major consolation for honorable folks in this effed-up world.
My wife, kids and I worked together so there would be no debt. My father in law gave me my wife’s school loan payment book after we were married in 1986, that’s another story, I wrote a check and paid that mess off. 3 kids probably, 400k collectively, no debt, no pell grants, just hard work and smart money management. For each child my wife and I put thru school we should get a 20k tax credit. Makes complete sense to me. How will the 20k be accounted for??? Income, a loss, a grant, a gift. The producers take another hit. As my son mused one day, dad you put everyone except yourself thru school, I just smiled and agreed.
Voters would hope that their Republican Representatives will begin a flood of lawsuits to stop King Biden’ illegal decree where an honest court gives him a terse lesson on civics
I wonder if McConnell sees this as the opportunity it is?
Opportunity for what? McConnell doesn’t want the Republicans to win.
‘I wonder if McConnell sees this as the opportunity it is?’ – Founders1791
What, to write off the Ukies’ federally-guaranteed debt, since we’re feeling magnanimous?
Respectfully, to post such comments, as many do here, the common theme being “WHERE are the Republicans” displays either a political naivete, or an attempt at rhetoric that fails to recognise the nature of the audience.
Sundances writings, in the archives are full of references to “the Uniparty” with detailed explanations.
His explanation is that the GOP and DNC are two ‘private clubs’ etc. You can read the details in the archives.
I prefer a simpler explanation, under the K.I.S.S. principle;
UNIparty=ONE PARTY, masquerading as two parties.
RINO=Republican In Name Only=Democrat
Democrat=Conmunist
Ergo, RINO=Conmunist
And, RINO does NOT refer to a small group of Senators (Murkowski, Collins etc.) that regularly cross the aisle.
McConnell, Graham and the Decepticons in the Senate, and McCarthy, Scalise and a similar group in leadership in the House are ALL RINOS, i.e. CONmunists, bent on our and this countries Destruction.
And hopefully, those who are “Treepers” and have been reading Sundance’s insightful writings understand and accept this reality.
Hence, I find it hard to understand those who post
“Where are the Republicans?” type comments.
“I wonder if McConnell sees this as the opportunity it is?”
Wake up and smell the kofeve!
Respectfully,…
Dutch- that is a post that exemplifies why we can’t get the RINOs out.
“…or an attempt at rhetoric…”
The UNFAIRNESS of this! And here we thought democRATS and the left are all about *fairness*. That $230 to $300 billion dollar tax bill will in large part be paid off by people who did the responsible thing and didn’t rack up huge college debt studying garbage like “community relations” or “gender inequities”. By people who paid off their college debts … or who couldn’t afford college in the first place but now have well paying jobs thanks to hard work. And this debt forgiveness will continue in future years, only encourage more people to force others to pay for their communist *edukation*.
Why does it cost so much to go to college? Even at a state university. Let’s start there
Because of student loans. 😉
3 sectors of the economy have consistently had their prices increase at a rate significantly greater than inflation, for many, many years.
All 3 are the sectors in which the Federal govt has become deeply involved in financing, ostensibly to “help consumers to afford”;
University Education
Home Ownership
Healthcare.
The old expression “Mother PUHLEASE! I’d rather do it MYSELF!” has reached the point of “Stop ‘HELPING’, your KILLING ME!”
Or, Reagans “10 words”; scariest 10 words in english language;
“I am from the Gummint, and I’m here to help!”
Margaret Thatcher;
“Socialism works, until it runs out of other peoples money.”
Unfortunately, thats when the shift to full blown Conmunism occurs, and our enemies are racing to that point, as fast as they can.
Yes let’s cap college tuition at 2022 levels. Dictator Biden and his imperial administration are disgusting.
People aren’t going to pay they’ll just wait for any remaining balance to be written off.
And in a couple years their remaining balance will be more then it is now. 🙄
To be sure, it is a trap of one kind or another. A dumbed down trusting populace won’t sniff it out before it springs. Much like those PPE loans that went to fraudsters but also real small businesses. Only the small businesses will be held to all the terms. And when they can’t, or assume they can act like a fraudster, that’s when the 87,000 IRS agents come in and take everything that remains.
Beware.
” My mortgage identifies as a student loan “
Mine too.
We need to amend 18 U.S. Code § 597 – Expenditures to influence voting” to cover this method of “vote buying”.
Whoever makes or offers to make an expenditure to any person, either to vote or withhold his vote, or to vote for or against any candidate;…
Biden and politicians of his ilk seem incapable of being shamed or doing anything that benefits the country as a whole.
Welfare for the wealthy.
The VAST majority of government programs benefit the wealthy and upper middle class at the expense of the working poor.
Case in point – PPP.
I got no PPP or Stimuli.
Me either, but my Federal taxes went up! I should have been kissed by my neighbors.
Class action lawsuits, please.
No standing, as just a taxpayer. Settled law.
Gasoline prices rise; Biden castigates gas station owners and refiners.
Drug prices rise; Biden rails against pharmaceutical companies.
Tuition rises; Biden says not one word about university pricing, or tenure, or value received by consumers for monies spent.
See the pattern? Which one of those three industries is run by progressives? Which one of those three makes massive campaign contributions to Democrats? Which one maintains a revolving door between government and its own offices?
There is a presidential conflict of interest in that the MRS. is and ‘edjumacator’….
I HATE these people!
FjB!
Honestly … who didn’t see this coming the minute BHO Nationalized all Student Loans? And gave GENEROUS benefits (read: college welfare payments) to the *ahem* under-served?
We all know that college indoctrination in the Communist Manifesto will become a “right”. Because “equity” or something. This is disgusting and is anathema to our previously healthy meritocracy. Now … colleges will get richer and bigger … and will further expand their enrollment by lowering admission standards … because “white man’s knowledge isn’t everything”.
Meanwhile … our High School graduation rates and test scores keep plummeting faster that a Stock Market going into a 10-year Recession/Depression.
TBH, the Bush administration had several self-enrichment scams going, including laundering old federal debt supports for old student loans into a cash cow.
And others, just look up DIBBLS. University of Washington (I think, but could have been Oregon)pass through.
#Buraqgate
Y’all best be stocking up on the essentials and get ready because after the election things will be getting bad and the masks will be coming off many bad actors
As I pause for the workers on the back end of a hot asphalt paver fixing my street on a hot August day, the ‘Karen’ on my street blows her horn and zooms by in her 7,000 lb SUV. Truely, let them eat cake!
Many military personnel will not be beneficiaries of this forgiveness either
Forgive me if this has been covered. When debt is forgiven by a lender it is usually considered income. Will this be reported to the IRS as income?
This will backfire hugely for Dems. They have successfully enraged the 75% of voters who disprove of him to try and buy the votes of that 30% who have no grasp on reality
You would be shocked by how many middle-class and upper middle-class families in your neighborhood have no problem making their problem yours. It’s the Democrat way – be irresponsible, then shove your bills off onto someone else.
I know I am going to get flamed for this. I don’t care. This doesn’t go far enough. The program should be total student loan forgiveness for everyone who has them.
The wealthy and the elite don’t have student loans. And the absolute poor either got free Black scholarship money or will never pay them back anyway so why pretend they will? The people who benefit from this are Trump’s base, the blue collar, the working class, the Middle Class, and even the upper middle class. THAT’s who had to take out loans to send their kids to college, and who actually try to pay them. A policeman, fireman, teacher, carpenter, plumber (well, maybe not a plumber), factory worker, none of them have an extra $40,000 laying around after taxes each year to pay tuition, books, fees, room and board to send their kid to a State School. They are who benefit. MAGA America.
Look, when I went to college in the Dark Ages a blue collar kid could get a summer job in a factory or on a construction site or on a road crew working on the highways and in 3 months make enough to get him through the next school year including tuition at a State School. Not any more. Prices skyrocketed. The factories closed. And what is left you have to compete with off-the-books illegal aliens for, which means the pay has gone to shit.
And forget the old saw about useless degrees. Working class parents took out loans so their kid could get a computer science degree and get one of those post-industrial America computer jobs John McCain said they should get. But the first year on the job his job is eliminated 6 months into it when the company’s entire IT department is fired and outsourced to a company staffed entirely with H1b foreigners. So now he makes lattes at Starbucks, struggles to pay off his loans, and you say “screw HIM”?
No. Screw all of it. Either forgive it all, or take your $10k in Biden table scrap crumbs and stick it where the sun don’t shine.
Ok but I want a $30k refund.
YES! And I say you should GET it. These G-D schools amass billions in endownments and then have the absolute brass to charge ANYTHING for tuition? Screw them $30k for YOU out of the endowments.
They want to restructure OUR lives with their Build Back Better, bug food, no gas. Fine. Let’s restructure it ALL. Refunds for ALL of MAGA America going back 30 years. First the endowments, then Bezos’ wealth, then Zuckerburg’s, then we take the entire Gates Foundation and spread it all around. Then WE build back.
I understand your sentiment, but it isn’t grounded in economics. It has been shown time and again that government subsidies cause college tuition and fees to outpace inflation. My kids went to a great state flagship college, which I paid for – did they need a lazy river at the student union? or a rec plex that no country club could match? or housing that rivaled any apartment complex I ever lived in? or gourmet food? or 30 VP’s of ‘diversity’? You get my point.
I get your point exactly. We completely screwed up higher education while we cut the legs out of the Middle Class that most benefitted from it. I remember a professor who was apoplectic about the school building a fancy new building, ranting that he could teach in a tent with just a blackboard and chalk. But the Middle Class who wanted to send their kids to college had no choice. It was the only game in towm. Make Bill Gates pay for it all.
Newsflash, many Trumpers and their kids never went to college or dropped out to go to work, like me..
Yeah. I’m just pissed at all of it. I’ve watched America’s slow slide into hell since NAFTA and it doesn’t take much to make me flash. We screwed it. It’s gone. Trump is the only one who gets it and wants to reverse the slide to a fate of sitting in the dirt in the cold eating bugs.
There’s no we.
Speak for yourself.
somebody needs to sue to stop this. No way can he do this. Where in the constitution does it give him this right?
Ok, so how is this paid for? The same way the Ukraine largess is paid for, by printing more $$$?
F Ukraine. Let Europe figure it out. NO more $ for Ukraine
Yup.
Biden is bailing water as fast as he can – but INTO the boat.
How fast will it sink?
Looks like the Fed octopus that runs through Congress and the federal bureaucracy thinks it will sink by the end of the year, judging by the rumored planned roll out of the elimination of cash in December.
If the economic boat sinks too early- say, by mid-October, that plan will go awry and they will all be in the sinking boat with us, and we will all go down together. That planned eternal debt enslavement and techno surveillance state might just turn into a double Jubilee year for everyone but them.
Can they manage the timing that precisely, or will external events shove the timeline in a different direction?
This is going to boomerang, back on those clowns big time.
My adult children are going to go NUTS, when they figure out that they are not given this Gov’t freebie.
Much like Ma and Pa, when we figured out from 2001-2011, how screwed we were getting when our children got NOTHING, for the hard work, of academic and athletic discipline during their schooling years. We got nothing but shown the door to PRIVATE loans. Just kick us in the ass middle class, were we.
Absolutely sickening.
Ol’ Ditch McConnell had no problem this week with Biden writing another check for $3B on the backs of working Americans to to pay government ‘workers’ in Ukraine. So what’s a measly $300B to buy some votes in a few months?
It’s a slush fund, for banks, govt and teachers.
Since I paid my own way back in the day (two part-time jobs while taking a full time college course load) with only a few hundred dollars a month stipend from the VA and no student loans, I don’t understand how this works. Who is on the hook for these loans? The student or the parents, who may be co-signers? And whose income determines eligibility? The student’s income or the parents?
Apparently we are.
Taxpayers.
Banks stopped giving school loans around 2007.
Majority of school loans are through the government.
I hear the youngsters screaming about the college loans,not parents.
I am going to venture a guess its the kids .
This should be the end of federal student loans, federal guaranteed loans and Pell grants. All this easy money has done is allow unbridled growth in the cost of a university education and worthless degrees like various “studies” Private banks should provide loans. They hopefully would be more careful to loan money for degrees which which would provide a return on investment to the student as well as the lender.
I agree. Once the government starts funding something. The sharks start swimming closer.
First to find ways to get the money,
then to find how to get the money without working much,
then to get it illegally, then to influence the laws on how to get it,
then to influence the dominance of the market over people trying to get the money fairly
then to use market dominance to gain more power
then, because the free market doesn’t work, to dominate the whole industry (socialism/communism)
This has happened in industry, military, public utilities, insurance, banking, healthcare, transportation.
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world’s greatest civilizations has been 200 years.
Great nations rise and fall. The people go from bondage to spiritual truth, to great courage, from courage to liberty, from liberty to abundance, from abundance to selfishness, from selfishness to complacency, from complacency to apathy, from apathy to dependence, from dependence back again to bondage.”
Benjamin Franklin. Yes?
This only happens if the democracy has fiat currency and no requirement for a balanced budget. Oh yeah we have both.
I put myself, two wife’s and three kids through college, were is my rebate?
So, hard work, saving, making sure my kids did NOT get a loan for college certainly didn’t pay off.
I’d like my refund.
FJB
Nice guy with other people’s money …!
My wife and I worked hard saved responsibly and paid for our child’s education so where do we get in line for some payback ?
We drove used vehicles , scrimped and scraped saving for our child’s education our retirement and other general expenses and our IRA and 401k lost $60k in asset value from January to June !
I know it’s a paper loss at this point but at 67 & 68 our time horizon is short !
It’s our paper gains and I want it back with interest the IRS would charge us !
I did not sit in a college loan office and sign a contract and every contract we ever committed to we backed it up !
Time for some tuff love financial reality !
Maybe go after the colleges and the loan officers at the colleges they got their cut off the top so who arranged these bad debts ? They had to know they were blowing smoke up these young peoples butts about how much money they should make with their degree ! Let them all take a hit hiding out on college campus liberal lalaland
Doesn’t Congress have to fund this?
Are you referring to the congress which has not prepared or passed a federal budget since 2009?
They did under the covid scam laws
they call the “Omnibus” and “Continuing Resolutions” these days….they mean completely different things than a legal budget
Our federal government needs an enema in the worst way.
Our Federal Government needs a UltraMAGA suppository in the worst way.
So the average non degree American, makes on average of about $40,000 a year. So average taxpayers now get to pay for school debt for people that make up to $250,000 a year.
Would this be a poor person tax?
Just a question from the little folks.
Yes. Yes it is.
And let’s not forget the #1 beneficiary of this “FREE” college … the colleges. Yes, all the America-hating CRT racist revisionist history Universities all just got RICHER $$$$$$. Now they have even MORE POWER to brainwash.