Forgive student debt, yes or no?

[Guest]

https://projects.propublica.org/coronavi...1932537103

Actually found a link to her PPP loan in an article.  100% was payroll to keep her employees employed for the 10 weeks that the doors to her company were closed by the .gov. 

It doesn't have the financial information on which employees got what.  But $182300 was based off 10 weeks of payroll for 12 employees.  Her employees average $1520/week.  That money continued to get paid to her employees while they sat at home so that they could continue to pay their mortgages/car payments/groceries/student loans etc

[Guest]

As for the student loans.  I'd be much happier with a interest forgiveness program.  I don't think people should have their principal paid for.

[Guest]

@AGRforever said:
As for the student loans.  I'd be much happier with a interest forgiveness program.  I don't think people should have their principal paid for.

1st address the problem so we dont have to do this for every graduation class going forward,  then IMO look for ways to help those that are in trouble,  not bail out, but find a payment plan and interest relief like you say.  and instead of IRS agents,  hire people to investigate the need instead of it just being a blanket one size fits all thing.  over 56% of outstanding student loan debt is for masters degrees or higher.... seems to me that none of those can likely claim "predatory practices"  as they should have been well enough educated to know they were in way over their heads,  or their job will likely end up covering their debt...either way... no soup for them IMO.  Same IMO for lawyers... they entered a field that makes enough money to cover the costs of the degree IMO.  I am sure that a deeper dive into these will find real hardship cases and that is where the attention and financial assistance should be going if it goes anywhere.   I wonder how many of those wanting the govt to pay off their loans really need the help,  or are simply living beyond their means and could pay their loans back if they were to adjust their life style to fit their income?

[Guest]

Interesting read here on who this would help the most... looks like a bailout for the middle and upper class more than about helping the poor.

https://www.brookings.edu/blog/up-front/...m-the-fed/

[Guest]

[Guest]

@StickyBun said:

@AGRforever said:

@StickyBun said:

@savannahskol said:

@AGRforever said:
Housing is up roughly the same 1200% and I dont see anyone rushing to pay my mortgage. 

"as of this morning, my mortgage has now identified as a a student loan"  

@JimmyinSD said:
point is... why should any tax payer be burdened with paying off the debt for others to take shitty courses on subjects that dont give them an employable degree.   

This concept (forgiving student loans) is grotesque.  

The GALL...college institutions that do NOTHING, but SLAM AMERICAN  economic free-enterprise values...& then profit prolifically by such values (via endowments & skyrocketing tuition) ...now try to "hail mary" against an epically losing election cycle...with this. 

I guess when you can't socialize medicine, you socialize education.  

https://twitter.com/WhiteHouse/status/15...0866267138

Lets be honest about PPP. Those “loans” were direct stimulus which were never intended to be be paid back from the word go.  They were for employeers to keep businesses from shutting their doors permanently after the .gov required them to shut their doors for +2 months. 

I’m quite sure there was plenty of abuse in the system. I’m quite sure there were businesses that would have survived without them. I’m also quite sure there wouldn’t be an economy left without them because so many businesses would have closed. This would have caused a domino effect and we’d be living in a vert very different world. 

College students chose their debt

Business owners didnt choose
covid/mandatory shutdowns. 

Gotcha. Appreciate the rationalization, er....I mean explanation. 

So Stinky, explain how these two programs are the same.

Which answer is correct, both the PPP and student loan forgiveness programs were:

a) approved by Congress
b) designed to help businesses keep workforce employed during height of pandemic
c) loans with defined repayment terms
d) none of the above

The correct answer is d.  You are making an apples to oranges comparison and the "whataboutism" fails.

[Guest]

[Guest]

@StickyBun said:

Memes bad... Gifs good....

[Guest]

@StickyBun said:

LOL, guess you just have funny video but no actual refutation. 

[Guest]

Biden doesnt have the legal power to do this,  they could change the law with the Dems having control of the house and senate currently,  but its sounding like this doesnt even have enough support among the dems in DC to get it approved legally.

This is a big nothing except to get a little voter support ahead of the election, and then the supreme court will strike it down sometime after the election taking the blame off biden.