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2022-08-25 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

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Posted by Frank G 2022-08-25 12:49|| || Front Page|| [11130 views ] Top

#1 I have a better idea. Let the school eat the debt.

Posted by BrerRabbit 2022-08-25 12:55|| 2022-08-25 12:55|| Front Page Top

#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|| 2022-08-25 13:08|| Front Page Top

#3 Joe Biden Wakes up to Democratic Mutiny on Student Loan Forgiveness Plan

Posted by Frank G 2022-08-25 13:11|| 2022-08-25 13:11|| Front Page Top

#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|| 2022-08-25 13:18|| Front Page Top

#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|| 2022-08-25 13:26|| Front Page Top

#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|| 2022-08-25 13:45|| Front Page Top

#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|| 2022-08-25 14:08|| Front Page Top

#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|| 2022-08-25 14:09|| Front Page Top

#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|| 2022-08-25 14:14|| Front Page Top

#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|| 2022-08-25 14:16|| Front Page Top

#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|| 2022-08-25 15:32|| Front Page Top

#12 ^ Also called throwing worse money after bad.

Posted by M. Murcek 2022-08-25 15:42|| 2022-08-25 15:42|| Front Page Top

#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|| 2022-08-25 15:45|| Front Page Top

#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|| 2022-08-25 15:51|| Front Page Top

#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|| 2022-08-25 15:52|| Front Page Top

#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|| 2022-08-25 16:01|| Front Page Top

#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|| 2022-08-25 17:02|| Front Page Top

#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|| 2022-08-25 18:19|| Front Page Top

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