The Biden (interim) Dictator

[Spracne]

He's not wrong.

[chum1]

Mitt seems to think it might help Biden get more votes. I also LOVE his suggestion that a wealth tax pay for it. Let's go!!!

https://twitter.com/MittRomney/status/1519363291553931272

[CNS]

Not an economist.

Would freeing up that huge amount of expendable income from so many Americans not be a really good trump card to hold on to incase we go into recession?

OR

Would this have some secondary or tertiary effect equal?  I realize it would be the equivalent of printing $1.6T.  I know many think that would supercharge inflation and we are already raising our interest rates.  Would this bitchslap the market back in line, or would it make it leave us in search of someone who loves them more?

An argument against is that this is largely a middle class bailout and perhaps if we are going to spend $1.6T, we should do so on the overall safety net and not just middle class. 

The argument against that makes the most sense to me is that cancelling the debt while the problem that causes the debt remains unattended to is super rough ridin' stupid and both should be simultaneously handled. 

We suck so bad at solving problems going forward vs kicking sand over the top of past fuckups.

[8manpick]

Not an economist.

Would freeing up that huge amount of expendable income from so many Americans not be a really good trump card to hold on to incase we go into recession?

Feel like we played that card already by pausing it for 2 and a half years?

[420seriouscat69]

Over/under of Biden erasing student loans of October 2023? #PoliticalPawn

[Sandstone Outcropping]

Not an economist.

Would freeing up that huge amount of expendable income from so many Americans not be a really good trump card to hold on to incase we go into recession?

OR

Would this have some secondary or tertiary effect equal?  I realize it would be the equivalent of printing $1.6T.  I know many think that would supercharge inflation and we are already raising our interest rates.  Would this bitchslap the market back in line, or would it make it leave us in search of someone who loves them more?

An argument against is that this is largely a middle class bailout and perhaps if we are going to spend $1.6T, we should do so on the overall safety net and not just middle class. 

The argument against that makes the most sense to me is that cancelling the debt while the problem that causes the debt remains unattended to is super rough ridin' stupid and both should be simultaneously handled. 

We suck so bad at solving problems going forward vs kicking sand over the top of past fuckups.

Agree with this part. No idea about the rest.

[CNS]

Not an economist.

Would freeing up that huge amount of expendable income from so many Americans not be a really good trump card to hold on to incase we go into recession?

Feel like we played that card already by pausing it for 2 and a half years?

Somewhat.  A pause freed up short term spending but not long term.  If you know that you can use that money on other long term debt, you could buy a house, start a biz, etc.

[steve dave]

Mitt seems to think it might help Biden get more votes. I also LOVE his suggestion that a wealth tax pay for it. Let's go!!!

https://twitter.com/MittRomney/status/1519363291553931272

[420seriouscat69]

lol. No crap he's only doing it to get more votes.

[sonofdaxjones]

Joe Biden to people who immigrate the legal way - eff off you loser, should've just jumped over a river!

Joe Biden to people who paid off their student loans or who didn't take out any student loans to begin with to pay for college, particularly those that worked to pay for college - eff off, I'm buying votes, should've racked up all the college debt you could!

[Rage Against the McKee]

I'm still a little bit hopeful that the student loan forgiveness won't be for everyone.

[420seriouscat69]

I'm still a little bit hopeful that the student loan forgiveness won't be for everyone.

Who do you want it to discriminate towards?

[Rage Against the McKee]

I'm still a little bit hopeful that the student loan forgiveness won't be for everyone.

Who do you want it to discriminate towards?

Ideally, we wouldn't be forgiving any debt, but I think that ship has sailed. So I would favor forgiveness for people who have low paying jobs that require a degree, like social workers.

[420seriouscat69]

I'm still a little bit hopeful that the student loan forgiveness won't be for everyone.

Who do you want it to discriminate towards?

Ideally, we wouldn't be forgiving any debt, but I think that ship has sailed. So I would favor forgiveness for people who have low paying jobs that require a degree, like social workers.

Why not help the people that were responsible and lived at home in their 20's to survive off shitty pay and massive debt and now they make good money, but pay two mortgages a month because of student loans. What disqualifies these people, Rage? No help for boot strappers? You don't want them spending that $ on other things in the market?

[Spracne]

Always looking for handouts. Smdh.

[420seriouscat69]

Always looking for handouts. Smdh.

Yeah, that's it. Or maybe, just maybe, the whole democrats caring about ppl thing is a fraud. They only wanna help people that think the way they do. Rinse and repeat.

[Rage Against the McKee]

I'm still a little bit hopeful that the student loan forgiveness won't be for everyone.

Who do you want it to discriminate towards?

Ideally, we wouldn't be forgiving any debt, but I think that ship has sailed. So I would favor forgiveness for people who have low paying jobs that require a degree, like social workers.

Why not help the people that were responsible and lived at home in their 20's to survive off shitty pay and massive debt and now they make good money, but pay two mortgages a month because of student loans. What disqualifies these people, Rage? No help for boot strappers? You don't want them spending that $ on other things in the market?

Well, ideally, there wouldn't be help for anyone.

[kstate4life]

I'm still a little bit hopeful that the student loan forgiveness won't be for everyone.

Who do you want it to discriminate towards?

Ideally, we wouldn't be forgiving any debt, but I think that ship has sailed. So I would favor forgiveness for people who have low paying jobs that require a degree, like social workers.

and teachers and nurses

[Rage Against the McKee]

Do nurses need more than an associate's degree? Doesn't seem like that would rack up very much debt. I thought about teachers, but it's not like I know any teachers who miss debt payments.

[Rage Against the McKee]

Radio broadcasters and news journalists could probably use relief. Those people make peanuts.

[420seriouscat69]

Do nurses need more than an associate's degree? Doesn't seem like that would rack up very much debt. I thought about teachers, but it's not like I know any teachers who miss debt payments.

There's different levels of being a nurse. To become a RN, you're probably spending about 50K on education.

[chum1]

Like, they wouldn't determine it by profession. It would be income amount vs. debt amount or something like that. Seems fair to me.

[Dugout DickStone]

Like, they wouldn't determine it by profession. It would be income amount vs. debt amount or something like that. Seems fair to me.

Yes, this is the likely result.  There are doctors and lawyers who make for crap because thy are in public sector

[catastrophe]

What I dislike about cancelling student debt is that it does nothing to address the problem of proliferating costs at colleges that are totally unrelated to providing good education. Whatever the solution is, it should involve something that aims to curb those costs and thus the needless accumulation of debt in the first place.

Also opposed to pouring rocket fuel on our crazy inflation rn.

[steve dave]

I like the debt forgiveness but only if they solve the front end problem of college being expensive first. Probably should make state school and juco free.