Time to PAY UP: Supreme Court rules against Biden student loan debt handout!

[VinnyVeritas]

So. You were wrong, or lying to make a point.

I'd believe that latter.

 

[Philthy_Phil]

Stay in school or you could end up like Lavern.

 

[Philthy_Phil]

 

[RoryN]

"Sorry - can't put my broke, senile, Deplorable dad in a nice nursing home where they won't beat him. I'm still paying off my student debt."

¯\_(ツ)_/¯​

 

[JohnEngelman]

A famous Democrat once said, "A rising tide lifts all boats," and how many poor people have hired you for a job?

A rising tide drowns those who cannot afford a boat.

 

[Rotadom]

 

[Rotadom]

Now the court is the MAGA court .

This is why you're an anti-American partisan shit stain.

 

[JohnEngelman]

Trump’s economic policies were working. When politicians keep their hands off the economy and let capitalism work then we’ll get back to good economic growth. That doesn’t mean that people shouldn’t pay their fair share but to tax the middle class to oblivion without eliminating redundant programs or tax to spend more, tax to give out freebies then we will continue to spiral into debt which sooner or later will lead to default. As interest rates increase so does the interest payment on the debt increase and that directly affects the discretionary piece of the pie.

Beginning with President Reagan Republican economic policies have consisted of cutting taxes, while raising military spending, and not balancing the budget.

President Carter's last full year in office was 1980. Back then the national debt was $908 billion. The national debt as a percentage of gross domestic product (GDP) was 32%.

After twelve years of the administrations of Ronald Reagan and George H.W. Bush this had grown to $4,065 billion and 61%.

After presidents George W. Bush and Donald Trump again cut taxes, while raising military spending these statistics had grown to $27,748 billion, and 129%.

https://www.thebalancemoney.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287

Most Republican tax cuts have gone to the rich.

 

[icanhelp1]

Beginning with President Reagan Republican economic policies have consisted of cutting taxes, while raising military spending, and not balancing the budget.

President Carter's last full year in office was 1980. Back then the national debt was $908 billion. The national debt as a percentage of gross domestic product (GDP) was 32%.

After twelve years of the administrations of Ronald Reagan and George H.W. Bush this had grown to $4,065 billion and 61%.

After presidents George W. Bush and Donald Trump again cut taxes, while raising military spending these statistics had grown to $27,748 billion, and 129%.

https://www.thebalancemoney.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287

Most Republican tax cuts have gone to the rich.

Can't say that about democrats, all they believe in is tax and spend.

Tax cuts don't go to anyone. Keeping more of ** YOUR MONEY** benefits everyone. High tax rates are just a legal form of extortion!!

 

[BabyBoomer50s]

Beginning with President Reagan Republican economic policies have consisted of cutting taxes, while raising military spending, and not balancing the budget.

President Carter's last full year in office was 1980. Back then the national debt was $908 billion. The national debt as a percentage of gross domestic product (GDP) was 32%.

After twelve years of the administrations of Ronald Reagan and George H.W. Bush this had grown to $4,065 billion and 61%.

After presidents George W. Bush and Donald Trump again cut taxes, while raising military spending these statistics had grown to $27,748 billion, and 129%.

https://www.thebalancemoney.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287

Most Republican tax cuts have gone to the rich.

The long term outlook was published by the CBO last week. It’s not pretty.

https://www.cbo.gov/publication/59014

Deficits​

“In CBO’s projections, the deficit equals 5.8 percent of gross domestic product (GDP) in 2023, declines to 5.0 percent by 2027, and then grows in every year, reaching 10.0 percent of GDP in 2053. Over the past century, that level has been exceeded only during World War II and the coronavirus pandemic. The increase in the total deficit results from faster growth in spending than in revenues. The primary deficit, which excludes interest costs, equals 3.3 percent of GDP in both 2023 and 2053, but the total deficit is boosted by rising interest costs.”

 

[icanhelp1]

The long term outlook was published by the CBO last week. It’s not pretty.

https://www.cbo.gov/publication/59014

Deficits​

“In CBO’s projections, the deficit equals 5.8 percent of gross domestic product (GDP) in 2023, declines to 5.0 percent by 2027, and then grows in every year, reaching 10.0 percent of GDP in 2053. Over the past century, that level has been exceeded only during World War II and the coronavirus pandemic. The increase in the total deficit results from faster growth in spending than in revenues. The primary deficit, which excludes interest costs, equals 3.3 percent of GDP in both 2023 and 2053, but the total deficit is boosted by rising interest costs.”

What is accomplished if tax increases do nothing more than keep up with interest on the debt But the debt continues to grow. Sooner or later if our population stays the same, cost of doing business increases, spending increases, revenues will reach a plateau, interest on the debt increases along with deficit spending and default is sure to follow. If moody drops the value on our debt we could see a depression similar to the 1900’s.

How much of France’s uprisings are a direct result of energy cuts?

 

[DeluxAuto]

"Sorry - can't put my broke, senile, Deplorable dad in a nice nursing home where they won't beat him. I'm still paying off my student debt."

¯\_(ツ)_/¯​

Thank God trump repealed and replaced Obamacare like he promised the deplorable dolts.

 

[LeeKee]

Everyone who is against loan forgiveness is a dumb boomer who paid $700 for their education in 1970.

Soon they'll all be dead.

Yup. Stupid. Not like the really smart people who signed a shitty loan and can’t seem to figure out how to owe up to it, right? Shitty deal is a shitty deal. Earning your way is a way but seemingly out of the question or outside of your work ethos? The ones the courts should be looking at is the predatory loan sharks, not the American tax payer. Keep your business your business.

 

[JohnEngelman]

Can't say that about democrats, all they believe in is tax and spend.

Tax cuts don't go to anyone. Keeping more of ** YOUR MONEY** benefits everyone. High tax rates are just a legal form of extortion!!

Democrats raise taxes on the rich. Republicans cut them. Democrats have a better record of job creation and economic growth.

 

[Philthy_Phil]

Yup. Stupid. Not like the really smart people who signed a shitty loan and can’t seem to figure out how to owe up to it, right? Shitty deal is a shitty deal. Earning your way is a way but seemingly out of the question or outside of your work ethos? The ones the courts should be looking at is the predatory loan sharks, not the American tax payer. Keep your business your business.

Like I said... Thanks for proving my point.

 

[LeeKee]

Like I said... Thanks for proving my point.

Lazy selfish fucks. That is what it is in the end. Get your shit together and owe up to the loan you signed. Respect that? Never. Didn’t earn it.

 

[Fuzzy1975]

Lazy selfish fucks. That is what it is in the end. Get your shit together and owe up to the loan you signed. Respect that? Never. Didn’t earn it.

Phil's post flew right over your head....and then you doubled down.........awesome...

 

[VinnyVeritas]

A sobering look at the student loan program and the, as yet, unchallenged Biden Administration changes:

https://reason.com/2023/07/03/despi...ct-billions-from-taxpayers-for-student-loans/
(Libertarian)

 

[LeeKee]

Phil's post flew right over your head....and then you doubled down.........awesome...

Sarcasm. I get it. At the same time I’m making my point. Everyone is such a wise ass.

 

[KeithD]

•
Do you think President Biden’s one time student loan debt forgiveness of a relatively small amount of student loan debt in response to the inordinately difficult employment / financial conditions brought about by the pandemic and predatory college lending equaled “just a whatever bailout yo just any loan runup”???

That ^ on the heels of the biggest bailouts to banks and businesses in human history???

It was a passable impersonation of racial reparations and the acknowledgment of the growing wealth gap for ALL Americans (imho.)

I have no trouble with the government having a program of forgiving student loan debt on the basis of ongoing giving of needed service to society, i.e., forgiving X amount to teachers or nurses as they are working in that capacity. I don't really agree with the giveaway as it was set up for just anyone deciding to be in college and running up debt. I don't think your post is relevant to anything I've posted on this.

 

[PaxNurgle]

Lazy selfish fucks. That is what it is in the end. Get your shit together and owe up to the loan you signed. Respect that? Never. Didn’t earn it.

I'm not saying I disagree with you, but I think the larger issue is this:

1) Student loans being offered at shylock/useruous interest rates,
2) College being less and less affordable to lower and middle income families, with fewer scholarships available,
3) Students becoming increasingly trapped in a debt cycle due to the first two reasons
4) Possibly big negative impacts to banks and colleges if there was to be a mass default on student loans,
5) The courts have ruled that nobody, not even the president, can unilaterally cancel student debts.

The government WAS able to bail out financial institutions that were "Too Big To Fail" and then blocked (or removed) subsequent regulations that would have prevented banks from once again becoming too big to fail. The second part of this statement being a key. Big banks are infinitely more important to the economy as a whole than individual students- not a criticism, but just how it is. They should NOT have removed the regulations that would have prevented a second 2008-style financial crisis.

 

[BluesDriver66]

Education should be absolutely free just like street lights and stop signs.