- Jul 22, 2019
- Reaction score
I own a beach house in Ponte Vedra, Florida. I bought it two years ago for $1.2 million. The monthly mortgage on it is a little north of $7,000. I'm fortunate to be in a position where I can do that. That said, if I suddenly decided, due to some "various reason", that I could no longer pay that mortgage, would it then be fair to forgive that loan, allow me to keep the house, and pass the cost of that loan on to the American taxpayer?
Because I don't think it would be, yet that's fundamentally the same scenario as exists with the student loans...
And the banks, and auto makers and well, the list is long.
I don't believe it's fair for taxpayers to be on the hook for Trump's failed trade war with China either. He failed, not me.
Well, if Biden has his way it will be your problem because you're going to be on the hook to pay for those loans...
OK. A small portion of what I've been responsible for, for years.
Despite your obvious desire for it to be so, GM has zero relevance in this discussion...
It most certainly does. They could not meet their obligations (just as in your example of you not paying for your house) and put the debt on the back of taxpayers.