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Home Front: Politix
Democrat's civil war over student loans explodes: Biden is blasted as 'out of touch' and told he is punishing 'those without a degree' by his OWN party - as new projection says it will cost Americans $500 BILLION
2022-08-25
[DM] Buying votes with other people's money
  • Democrats continue to turn against Biden for his plan to cancel between $10,000-$20,000 in student debt each borrower making less than $125,000

  • New Hampshire Rep. Jared Golden called the move 'out of touch'

  • Comes as a new estimate claims American taxpayers will pay between $400 - $600 billion over the next decade to pay for the relief

  • Taxpayers who didn't take out student loans or have already paid off loans will not benefit from the program, but will still be helping pay for the relief

  • Republican lawmakers have heckled the move as unfair to working families

  • Some Democrats are hopping on board, and also claiming that the move doesn't do the work to address root causes that make college so expensive
Posted by:Frank G

#18  A) he doesn't know
Wasn't consulted. Seems like something right in the department's wheelhouse.

Lacks the ability to find this information, which means all budget estimates are bullshit.

and B) he doesn't care.
Nobody, nobody in that department had the brains to anticipate a cost question.

Purposefully ignorant, knowing the costs are likely triple the "high ball estimate" of $600 Billion.

I mean, didn't even pretend to coordinate with DoE, or anyone, not even a heads up on it. Just full dictate. That isn't very reassuring to Joe Blue Collar building Fords and just making it. Well, shit, he just got fired because Ford is switching to electric vehicle lines. Guess Mom is going to just have to suck it up and clean more hotel rooms - remind her to wear her puncture resistant gloves because vagrants were housed there last night.
Posted by: swksvolFF   2022-08-25 18:19  

#17  I demand that every student who benefits from this upload all their homework and tests onto Facebook, so we can see what we paid for. I don't actually use Facebook, but it will be the end of that platform so some good will come of this stupid give-away.
Posted by: Super Hose   2022-08-25 17:02  

#16  I like the part when they explain that the money to pay for this exists in the Inflation Reduction Act.

Money in the Inflation Reduction Act doesn't exist.
Posted by: swksvolFF   2022-08-25 16:01  

#15  It's been awhile since I was in college. I do recall many kids there who had no business in college. They'd party and sleep their freshman year away never to return. Most of these kids were there on loans of some sort. At some point these loans became non-performing loans. I suspect a lot of the debt Biden is cancelling is already delinquent anyway.
Posted by: Vespasian Ebboting9735   2022-08-25 15:52  

#14  
#2 Here's a scary question:

Why didn't The Secretary of Education have an answer when asked how much would this cost?
Posted by: swksvolFF 2022-08-25 13:08

...Beacuse A) he doesn't know, and B) he doesn't care.

Mike
Posted by: Mike Kozlowski   2022-08-25 15:51  

#13  Meanwhile Harvard has a 53.2 Billion dollar endowment. It has increased by 10 Billion is 2021.

Source is Wikipedia - so who knows what it really is.

List of Endowments (also Wikipedia - salt to taste)

(on the other hand - don't salt to taste - don't want anyone to have heart problems...)
Posted by: CrazyFool   2022-08-25 15:45  

#12  ^ Also called throwing worse money after bad.
Posted by: M. Murcek   2022-08-25 15:42  

#11  The Federal Direct Student Loan program, passed under Obama, took away the private Banking loans entirely.

The DOEd and various other groups estimated this would result in a steady income stream to the Fed Govt - totaling over $100B in ten years.

In actuality it has produced negative income amounting to over $200B as of last year.

The Biden program will balloon these losses.
Posted by: lord garth   2022-08-25 15:32  

#10  They are correct this does nothing to solve the problem.

Also, are we taking bets on whether this loan forgiveness will be taxed next year?
Posted by: Angstrom   2022-08-25 14:16  

#9  Like I said, radio hype man. Fox Radio Affiliate. That's The Narrative released first thing this morning, at least in this broadcast zone.

Frank G's link shows otherwise.

Mom turning hotel rooms so the kids have food is going to pay for some emo skating through college on gender spectrum studies is a tough sell.
Posted by: swksvolFF   2022-08-25 14:14  

#8  really hope a lot of rank and file union members are in that list as their leaders are the backbone of many of the voter theft schemes.
Posted by: ruprecht   2022-08-25 14:09  

#7  Those unaware that the Dems had ditched them suddenly become aware. Red-pilling will begin soon now that the blinders are removed.
Posted by: ruprecht   2022-08-25 14:08  

#6  ^ Not exactly true. Dems up for election in tight districts are moaning about it. But that's all they'll do.
Posted by: M. Murcek   2022-08-25 13:45  

#5  But...but...the radio hype man said the only Democrats who are upset, are upset because it doesn't go far enough.
Posted by: swksvolFF   2022-08-25 13:26  

#4  Get a loan for $10k, apply for Spring 2023 semester, file paperwork, get money, write university canceling my classes, profit.
Posted by: swksvolFF   2022-08-25 13:18  

#3  Joe Biden Wakes up to Democratic Mutiny on Student Loan Forgiveness Plan
Posted by: Frank G   2022-08-25 13:11  

#2  Here's a scary question:

Why didn't The Secretary of Education have an answer when asked how much would this cost?
Posted by: swksvolFF   2022-08-25 13:08  

#1  I have a better idea. Let the school eat the debt.
Posted by: BrerRabbit   2022-08-25 12:55  

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