POLL: If You Could Forgive a Debt Which Would You Chose?

Discussion in 'Economy' started by Mad Scientist, Oct 10, 2011.

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If You Could Forgive a Government Debt Which Would it Be?

Poll closed Oct 17, 2011.
  1. 850 Billion in Student Loans

    80.0%
  2. 16 Trillion in Federal Reserve Loans to Foreign Countries

    0 vote(s)
    0.0%
  3. I STILL Blame Bush!

    20.0%
Multiple votes are allowed.
  1. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    If you had the power to do so which government debt would you forgive?

    A. 850 Billion in Federal Student Loans.
    B. 16 Trillion in Federal Reserve Loans to Foreign Banks.

    This will be a public poll so everyone will be able to see your vote.
     
    Last edited: Oct 10, 2011
  2. JWBooth
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    JWBooth Gold Member

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    Forgive? Or simply write off as bad debt, clear the books, and move on?
    If the latter, does the US continue making these loans knowing that there will be no return?

    I got no problem with writing them all off, so long as there is never another loan made again.
     
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  3. BDBoop
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    BDBoop BANNED

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    Student loans, without a doubt.
     
  4. Baruch Menachem
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    Baruch Menachem '

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    Debt contracted to secure an asset that is supposed to grant a huge income to the recipient, which the recipient refuses to pay because they feel entitled? No way.
     
  5. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    You wouldn't forgive, or wipe off the balance sheet, 16 trillion in Federal Loans to foreign banks? You know the US taxpayer has to pay all that back right?

    The Fed Audit - Newsroom: Bernie Sanders - U.S. Senator for Vermont
    Audit the Fed

    Why would you want the US Taxpayer to be saddled with that much debt when they got nothing in return? :confused:
     
  6. Mad Scientist
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    If International Banks don't have to pay off their Federal Reserve debt, then American Students shouldn't have to either right? It's only fair right?
     
  7. kwc57
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    kwc57 BOHICA Obama

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    I couldn't vote because the option of "none" wasn't there. A loan is a contract and you agree to pay it. Just because it is "hard" is no excuse.
     
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  8. PLYMCO_PILGRIM
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    Neither.

    I would pay down our debts from the money we have borrowed form foreign country's and I would not forgive anyone who borrowed money from our govt in the process.

    I can't vote in your poll, none of the 3 options are ones I would choose.
     
  9. Mad Scientist
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    But it's my poll and those are the only two you can chose from. C'mon you can do it! Which is better?:

    Letting Students off the hook or Letting Taxpayers off the hook?
     
  10. PLYMCO_PILGRIM
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    wait did you mean not repaying our 16trillion in debt?

    I thought you meant allowing foreign countries that borrowed money from us to not pay it back.

    If you mean telling all the countries we owe money to "to go screw" then, as long as we vastly build up our military first, i'm ok with it (since china will come get what they lent us)
     

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