Biden cancels student loans for art students as total cost of forgiveness could exceed $1 trillion

[Hollie]

Because the fun money used for vote buying never stops, pretend-president Joe Bribe'em is dumping more debt on the US taxpayers.

The total cost projections of Bribe'ems debt accumulation strategy are now at about $1 Trillion that will be added for taxpayers ro assume.

Lovely!

MSN

The Biden administration has announced another round of canceled student loans, this time for $6.1 billion for 317,000 former students of the Art Institutes.

 

[Votto]

Because the fun money used for vote buying never stops, pretend-president Joe Bribe'em is dumping more debt on the US taxpayers.

The total cost projections of Bribe'ems debt accumulation strategy are now at about $1 Trillion that will be added for taxpayers ro assume.

Lovely!

MSN

The Biden administration has announced another round of canceled student loans, this time for $6.1 billion for 317,000 former students of the Art Institutes.

Well, it's not like the Biden family has to follow the laws on anything, like paying taxes or applications for a fire arm, etc.

So, it makes sense that he also can ignore SCOTUS for saying he can't do this.

 

[1srelluc]

Given that I suspect most "art students" vote dem I guess FJB just bought him 317K votes.

This is what our country had devolved into.

 

[Votto]

Given that I suspect most "art students" vote dem I guess FJB just bought him 317K votes.

This is what our country had devolved into.

That, and the fact they have no way of every paying that money back

They may as well have had a degree in basket weaving.

The universities simply took advantage of those kids and put them in debt they could never repay, all because they are greedy little bastards.

 

[1srelluc]

That, and the fact they have no way of every paying that money back

They may as well have had a degree in basket weaving.

The universities simply took advantage of those kids and put them in debt they could never repay, all because they are greedy little bastards.

LOL.....Someone should have told them....."Can you draw this pirate is no way to go through life son."

 

[Crepitus]

Biden cancels student loans for art students as total cost of forgiveness could exceed $1 trillion​

And resulting in gains for the economy that could exceed 10s of trillions over the next decades.

 

[Polishprince]

Why did the government guarantee a loan for someone to attend art school in the first place.

Art is a tremendously hard way for anyone to make a living, how did the taxpayers get conned into guaranteeing this debts.

I was watching a movie "Wee Wee Monsieur" a couple of weeks ago, the landlord had 3 tenants working as artists and were behind bigly in their rent.

 

[Hollie]

And resulting in gains for the economy that could exceed 10s of trillions over the next decades.

Nonsense.

 

[Hollie]

LOL.....Someone should have told them....."Can you draw this pirate is no way to go through life son."

And why is the nanny state required to step in and "make everything all better" for people who make poor decisions?

This is all about desperation on the part of Joe Bribe'em looking at terrible poll numbers.

 

[yidnar]

And resulting in gains for the economy that could exceed 10s of trillions over the next decades.

if what you say is true .... imagine how good it would be for the economy if they paid off everyone's home and auto loans eh ?

 

[HikerGuy83]

And resulting in gains for the economy that could exceed 10s of trillions over the next decades.

You ae so full of **** your eyes are brown.

 

[HikerGuy83]

And resulting in gains for the economy that could exceed 10s of trillions over the next decades.

This is so funny, I am still giggling.

You are thinking that because they don't have to pay it back, they will spend it somewhere else thus increasing the false "velocity" that economics used to teach.

But because they don't pay it back, that money is now applied to the deficit so that the country has to raise taxes to get it back, not to mention the interest they will pay on the money they don't get back.

You stupid, inbred.

 

[Dekster]

Why did the government guarantee a loan for someone to attend art school in the first place.

Art is a tremendously hard way for anyone to make a living, how did the taxpayers get conned into guaranteeing this debts.

I was watching a movie "Wee Wee Monsieur" a couple of weeks ago, the landlord had 3 tenants working as artists and were behind bigly in their rent.

I assume the 1965 Higher Education Act since people have been getting student loans for trade schools as long as I can recall. I remember being shocked people could get them for a local cosmetology school that was little more than a cheap place to churn women through with bad haircuts and ruined dye jobs for half the price of proper hair dressers.

Anyway, it really doesn't matter that much. This is economically no different than an tax cut since the money was borrowed and spent forever ago. They aren't spending anything new. They are just reducing expected future revenue.