Executive Order to forgive $50,000 in student debt

[SassyIrishLass]

you could, theoretically, declare bankruptcy and have that mortgage be written off, yes?

No, you could file bankruptcy, true enough, but the lien holder of the property has the right to foreclose and take the property back to be sold to recoup their losses.

. . . well. . . O.K.

That takes care of the principle.

So what we are saying here, is that conservatives have no problem if Biden signed an EO, wiping out all interest, and making students liable for nothing but the principle on their debt?

Never met any conservative who turned down any govt. bailouts or refused to file bankruptcy and screw their debtors, or insisted in paying off what they borrowed to speculate in any of the bubbles that all crashed since the 1970's, so I don't give any credibility to their fake moral objections here. All they do is blame the Democrats as if they had guns held to their heads and were forced to leverage their imaginary equities 50 to 1. I bought three houses for pennies on the dollar from Republicans who lost their asses in the 1980's, and every one of them had weaseled out of paying them off and stampeded over widows and orphans and the elderly to get in front of the line for bankruptcy courts.

Beyond stupid..... you're obviously a gummit leech

 

[Jarlaxle]

you could, theoretically, declare bankruptcy and have that mortgage be written off, yes?

No, you could file bankruptcy, true enough, but the lien holder of the property has the right to foreclose and take the property back to be sold to recoup their losses.

. . . well. . . O.K.

That takes care of the principle.

So what we are saying here, is that conservatives have no problem if Biden signed an EO, wiping out all interest, and making students liable for nothing but the principle on their debt?

I wouldn't love it, but don't have nearly as much of a problem with that.

 

[Jarlaxle]

If you honestly believe that this bailout is for the "students," or the borrows? I have some wonderful lake front property in the Sahara dessert for you.

Nah bro, this is all for the bankers who know they will never see any of this bad debt, I am sure this is all Janet Yellen's idea.


The elites loan holders are the ones that will be seeing all this money, they are the ones behind this. Lincoln project folks probably love this idea.

Keynsians are all about helicopter money. In the end, this will just further erode the purchasing power of the dollar.

No...it is about openly purchasing votes. No more and no less.

 

[Jimmy_Chitwood]

If banks and businesses didn't have to pay the money back, I don't see why all should not be held to the same standard.

What money?

 

[task0778]

I think Biden will sign an EO to forgive all federal student debt, and if and when the courts declare that action to be illegal (which they will), he's off the hook. He's going to use EOs to do a lot of stuff with EOs cuz he ain't going to get much help from Congress even though the Dem control both chambers, unless they manage to eliminate the filibuster, one way or another. A couple of Dem senators have said they won't vote for that, but I think Schumer will find a back door to get most of what he wants passed through the Senate.

 

[366h34d]

Yeah if he tries to do that with an executive order it will be struck down by the courts

Who will sue??
Trump and Biden both used EO to eliminate interest on student loans during pandemics. So, student loans should be under Fed jurisdiction.

It qualifies as defrauding the Federal govt. and should be prosecutable under RICO statutes as well, just like Hillary, Obama, Kerry, and the majority of Democrats andmost of the RNC and any company who solicited and received green cards as part of the ongoing criminal conspiracies to commit fraud. Silly Con Valley companies in particular should be made examples of.

I understand where you are coming from. I believe Biden will deal with the department of education's direct loan first. Then, he will make his next move base on the 'woke' feedback.

 

[noonereal]

I think Biden will sign an EO to forgive all federal student debt

Then, in truth, you are not thinking.

Biden will forgive 10 grand and the courts will be fine with it.

You will again feel you were not put first and will be resentful.


Tough. Deal with it.

 

[Dont Taz Me Bro]

This is highly unlikely to happen

 

[Shelzin]

I was fortunate to not be as stupid of you.

Stupid *as* you. Lord knows I make spelling and grammar mistakes... I wouldn't normally hold that against someone. But... Damn son. That's horrible timing.

*chuckles*

 

[LeftofLeft]

Corporate incentives and bailouts are not comparable to egregious college debt. Here’s why: A corporation creates jobs. A corporation pays taxes. A corporation creates products where sales taxes are paid on those products. That all adds up for value for the economy and revenue for the State to pay for programs. How is that equivalent to the irresponsible student and parents that just TOOK $100ks of debt and emerged with skills sets for no jobs in demand?

I am not against affordable loans that can be repaid or outright grants for students to gain skills for which there is a demand.

 

[DudleySmith]

Democrats Plan $50,000 Of Student Loan Cancellation By Executive Order

Will your student loans get cancelled? It depends who you ask.

www.forbes.com

Congratulations US Taxpayer, looks like you will get to pick up the $50,000 tab of irresponsible college students and families who took on more debt than they could handle because they felt entitled to go to private elite colleges 3 time zones away and concentrate their studies in useless majors that have no demand in the job market. These students and families who feel entitled to this have the audacity to say they have been “enslaved” or victimized by student debt.

Moving forward, there needs to be more controls in place to qualify students and their families towards state and local institutions and concentrations of study that yield good paying jobs.

Check your race cards and class warfare bullshit at the door.

Does Biden have authority to do that? Student loans were created by legislation from Congress.

They were meant to subsidize universities and pay for training corporations' employees for them at taxpayers expense, i.e. welfare and freebies for the middle class academics and corporate shareholders, which is why they should be forced to pay every cent of it back. If corporations want the govt. to train their employees for them they can pay for it out their own and their shareholders' pockets themselves, especially pirates like Microsoft, Apple, Cisco, AT&T, the drug companies, etc., including the ones they don't hire.

 

[noonereal]

I was fortunate to not be as stupid of you.

Stupid *as* you. Lord knows I make spelling and grammar mistakes... I wouldn't normally hold that against someone. But... Damn son. That's horrible timing.

*chuckles*

so you gage intellect through grammar mistakes

Now that is a cerebral approach.

 

[noonereal]

Corporate incentives and bailouts are not comparable to egregious college debt. Here’s why: A corporation creates jobs. A corporation pays taxes. A corporation creates products where sales taxes are paid on those products. That all adds up for value for the economy and revenue for the State to pay for programs. How is that equivalent to the irresponsible student and parents that just TOOK $100ks of debt and emerged with skills sets for no jobs in demand?

I am not against affordable loans that can be repaid or outright grants for students to gain skills for which there is a demand.

I swear, one post is more ignorant than the next here.

You one upped him!

 

[DudleySmith]

They should get it back from the universities for their defrauding the govt. with that loan sharking scam, and from every company who ever lied about those totally fictitious 'labor shortages' that misled many to think their majors were economically sound choices. They should also face criminal charges as well. And banks, too, should be seized and their shareholders'personal assets siezed, and refunds distributed.

There are no banks! Learn how the system works before blathering!

Rubbish. They make a killing off of re-financing the debts, at high interest rates, as well as making supplemental loans to students. Learn how not to be clueless and credulous.

 

[DudleySmith]

you could, theoretically, declare bankruptcy and have that mortgage be written off, yes?

No, you could file bankruptcy, true enough, but the lien holder of the property has the right to foreclose and take the property back to be sold to recoup their losses.

. . . well. . . O.K.

That takes care of the principle.

So what we are saying here, is that conservatives have no problem if Biden signed an EO, wiping out all interest, and making students liable for nothing but the principle on their debt?

Never met any conservative who turned down any govt. bailouts or refused to file bankruptcy and screw their debtors, or insisted in paying off what they borrowed to speculate in any of the bubbles that all crashed since the 1970's, so I don't give any credibility to their fake moral objections here. All they do is blame the Democrats as if they had guns held to their heads and were forced to leverage their imaginary equities 50 to 1. I bought three houses for pennies on the dollar from Republicans who lost their asses in the 1980's, and every one of them had weaseled out of paying them off and stampeded over widows and orphans and the elderly to get in front of the line for bankruptcy courts.

Beyond stupid..... you're obviously a gummit leech

You're just another ideological tool, is all.

 

[Shelzin]

I was fortunate to not be as stupid of you.

Stupid *as* you. Lord knows I make spelling and grammar mistakes... I wouldn't normally hold that against someone. But... Damn son. That's horrible timing.

*chuckles*

so you gage intellect through grammar mistakes

Now that is a cerebral approach.

Maybe you should read the post again. I just admitted I do that myself, and wouldn't normally say anything. But I would certainly proof read a post when calling someone else stupid. Wait... wait... Let me get that emote

 

[DudleySmith]

If you honestly believe that this bailout is for the "students," or the borrows? I have some wonderful lake front property in the Sahara dessert for you.

Nah bro, this is all for the bankers who know they will never see any of this bad debt, I am sure this is all Janet Yellen's idea.


The elites loan holders are the ones that will be seeing all this money, they are the ones behind this. Lincoln project folks probably love this idea.

Keynsians are all about helicopter money. In the end, this will just further erode the purchasing power of the dollar.

No...it is about openly purchasing votes. No more and no less.

And pols soliciting bribes.

 

[Harry Dresden]

dam.....i wonder if they will get to excusing 50,000 dollars of my mortgage?......

If your mortgage is over 50k you should be spanked er oh that's right, you live in California that rich man's paradise. But the colleges are free, no?

dont live there anymore.....escaped in 15....

 

[DudleySmith]

Yeah if he tries to do that with an executive order it will be struck down by the courts

Who will sue??
Trump and Biden both used EO to eliminate interest on student loans during pandemics. So, student loans should be under Fed jurisdiction.

It qualifies as defrauding the Federal govt. and should be prosecutable under RICO statutes as well, just like Hillary, Obama, Kerry, and the majority of Democrats andmost of the RNC and any company who solicited and received green cards as part of the ongoing criminal conspiracies to commit fraud. Silly Con Valley companies in particular should be made examples of.

I understand where you are coming from. I believe Biden will deal with the department of education's direct loan first. Then, he will make his next move base on the 'woke' feedback.

He just might, but I think he's too crooked to go against real money for no personal gain on his part any more than your typical Republican or fair weather 'conservative' ever will.

 

[Fort Fun Indiana]

dam.....i wonder if they will get to excusing 50,000 dollars of my mortgage?......

You can do that yourself with bankruptcy.