Student Debt Forgiveness knocked down

[Lesh]

LOL Yeah its just poof, gone, never has to cost anyone anything. Is that how you run your personal finances? Might explain why your kid still owes money on a degree he got over 10 years ago....

No one… repeat … no one… runs their finances like the Federal government.

Can you mint money? No ?

Ohhh

 

[Couchpotato]

No one… repeat … no one… runs their finances like the Federal government.

Can you mint money? No ?

Ohhh

Apparently you do. Or maybe you just don’t understand money management.


So WHO pays for the debt? We will have to pay it eventually.

 

[Lesh]

Apparently you do. Or maybe you just don’t understand money management.


So WHO pays for the debt? We will have to pay it eventually.

Who paid for all the debt from WWII?

Answer that question and you’ll have your answer

 

[Couchpotato]

Who paid for all the debt from WWII?

Answer that question and you’ll have your answer

We are every year we pay interest on that debt.

We’ve paid 5.5 trillion on interest payments since 2012 alone.

Interest expense public debt U.S. 2023 | Statista

In 2023, the U.S.

www.statista.com

But you keep believing debt spending doesn’t cost any money.

 

[Lesh]

We are every year we pay interest on that debt.

We’ve paid 5.5 trillion on interest payments since 2012 alone.

Interest expense public debt U.S. 2023 | Statista

In 2023, the U.S.

www.statista.com

But you keep believing debt spending doesn’t cost any money.

Interest payments.

And the principle? What happened with that?

 

[Hollie]

It gets added to the debt. A rather small addition by per centage

Won’t cost you a dime

Nonsense. Inflation is a direct result of Dem / Marxist flooding the country with debt. You may not understand that inflation causes prices to rise which means it takes more dimes to buy the things you bought last week.

 

[Hollie]

No one… repeat … no one… runs their finances like the Federal government.

Can you mint money? No ?

Ohhh

The Fed can print money. That dilutes the value of money in circulation. Diluted value of money means the money has less value.

It’s difficult to make simpler than that.

 

[Couchpotato]

Interest payments.

And the principle? What happened with that?

Does the government pay that interest with all that nontax generated cash it has? Would the Government be paying that interest if we didn’t have the debt? In the last 10 years we‘ve spent almost an entire years worth of budget on paying interest.

BTW. We were paying down the debt 98-01.


Look you’ve been wrong on this topic for going on 20 pages now. You could have just said you misspoke or meant something other than what you said. It’s too late for that now though.

 

[Frankenstein]

Your taxes won’t go up one penny whether or not these loans are forgiven

However my tax dollars will still go to pay for it, no thanks. Pay your own debt!!!!!!! I didn't go to college because I couldn't afford it, and didn't want the debt, now you want me to pay for yours?

 

[Jarlaxle]

Why does it not count? If your employer did not have to pay it to the Govt they could be paying it to you.

Because Joey is employing one of his usual tactics: denial of the facts.

yes, you are. A black hole of emotional need.

Joey, she isn't the one whose ENTIRE LIFE is this site. That is you. You have made thirty-five posts per day, seven days a week, 365 days a year, every day for twelve years. Your entire life is this forum. Go outside!

 

[Jarlaxle]

Biden's plan was loan forgiveness, not bankruptcy. If they want to declare bankruptcy, nothing is stopping them.

Biden's plan is unconstitutional because he doesn't have either the constitutional power, nor the statute power to forgive the loans.

It won't help. Student loans cannot be discharged in bankruptcy.

For someone who claims he is not paying attention, you’re seeking a lot of my attention.

I understand you’re not able to provide a coherent response to what I’ve put before you, but just be honest about your limitations.

Joey is like an annoying field-goal dog. He yaps incessantly, follows you around, occasionally shits on the floor, and tries to gnaw through my boot. When he cannot refute something, he flames, trolls, lies, filibusters, and insults.

That’s a great point and I think the colleges and universities would prefer to maintain the status quo.

I believe it was the Higher Education Act of 1965 that spurred the push for student loans. The goal being to make university and college more affordable and more attainable. Universities and colleges saw this as a money-making opportunity to raise their costs. Those costs rose much faster than inflation because the government was assuming the financial risk. The universities exploited the system and used it to make money.

It was the trainloads of free money the government started shoveling that caused college costs to skyrocket.

 

[Lisa558]

It won't help. Student loans cannot be discharged in bankruptcy.

Joey is like an annoying field-goal dog. He yaps incessantly, follows you around, occasionally shits on the floor, and tries to gnaw through my boot. When he cannot refute something, he flames, trolls, lies, filibusters, and insults.

It was the trainloads of free money the government started shoveling that caused college costs to skyrocket.

The concept is simple: Subsidize something and the price rises; tax something and the cost comes down.