Who pays for the $132 billion in student debt that Biden has "cancelled'?

[MarathonMike]

So that's it? Biden just waived his Harry Potter wand and poof $132 BILLION DOLLARS in student debt just disappears? Who loses? I'm guessing since it's a Democrat policy, the US taxpayer is going to foot the bill somehow.

 

[MaryL]

I was told, Biden couldn't do this, his presidential powers were limited...So what's next, Biden mandates slavery reparations? Repeals the third law of thermodynamics? Mandatory flat earth theory? I am lost here.

 

[Kilroy2]

under Trump the federal debt rose by 50%

under Biden the federal debt rose by 23%

you forget Trump tax cuts for the wealth. There were also tariff placed on certain products but it didn't help that much.

Biden's Numbers, October 2023 Update - FactCheck.org

Statistical measures of the economy, immigration, oil production and more since Biden became president.

www.factcheck.org

Trump's Final Numbers - FactCheck.org

Statistical indicators of President Trump's four years in office.

www.factcheck.org

Trump’s one-term presidency, the national debt had climbed to $27.76 trillion—a 39-percent jump from the $19.95-trillion debt the country had four years prior

he promised to reduce the debt in his first turn but failed and in fact increased it

 

[mudwhistle]

I was told, Biden couldn't do this, his presidential powers were limited...So what's next, Biden mandates slavery reparations? Repeals the third law of thermodynamics? Mandatory flat earth theory? I am lost here.

Biden isn't doing anything but run around naked.
This is Obama's doing.

 

[1srelluc]

We do through the over-funded Education Dept.

 

[Fort Fun Indiana]

So that's it? Biden just waived his Harry Potter wand and poof $132 BILLION DOLLARS in student debt just disappears? Who loses? I'm guessing since it's a Democrat policy, the US taxpayer is going to foot the bill somehow.

Not you. Mostly rich people. And big corporations.

 

[Fort Fun Indiana]

Biden isn't doing anything but run around naked.
This is Obama's doing.

How bizarre

 

[Crepitus]

So that's it? Biden just waived his Harry Potter wand and poof $132 BILLION DOLLARS in student debt just disappears? Who loses? I'm guessing since it's a Democrat policy, the US taxpayer is going to foot the bill somehow.

I thought you were coving it?

 

[excalibur]

under Trump the federal debt rose by 50% ... —a 39-percent jump from the $19.95-trillion debt the country had four years prior

Has what to do with the OP? Oh, and 39% isn't 50%.

But I'll play. Under Øbama federal debt more than doubled.

... debt grew from $10.6 trillion on Inauguration Day 2009 to $19.4 trillion as of July 21 [2016]. Using the more economically meaningful figure of debt held by the public, which excludes money that the government owes to itself, debt more than doubled from $6.3 trillion to $14 trillion.​

Has President Obama Doubled the National Debt? | Committee for a Responsible Federal Budget

2016-07-25-While accepting the Republican nomination for president, Donald Trump sai

www.crfb.org

 

[fncceo]

under Trump the federal debt rose by 50%

 

[Fort Fun Indiana]

View attachment 870665

*at Biden's opponent in 2024

 

[two_iron]

Is there a law against the stuttering **** buying votes with our tax money?

I know it sounds bad when I put it that way.... but who would stop it? fbi? doj? congress? judge chutkin, or what ever the **** its name is?

Yeah, no.

This is officially a banana republic.

 

[JGalt]

So that's it? Biden just waived his Harry Potter wand and poof $132 BILLION DOLLARS in student debt just disappears? Who loses? I'm guessing since it's a Democrat policy, the US taxpayer is going to foot the bill somehow.

Future generations will pay for this. Democrats have always wanted to **** their kids, so there's the way they get to do it legally.

 

[Kilroy2]

Has what to do with the OP? Oh, and 39% isn't 50%.

But I'll play. Under Øbama federal debt more than doubled.

... debt grew from $10.6 trillion on Inauguration Day 2009 to $19.4 trillion as of July 21 [2016]. Using the more economically meaningful figure of debt held by the public, which excludes money that the government owes to itself, debt more than doubled from $6.3 trillion to $14 trillion.​

Has President Obama Doubled the National Debt? | Committee for a Responsible Federal Budget

2016-07-25-While accepting the Republican nomination for president, Donald Trump sai

www.crfb.org

one refers to gross federal debt
and the other is debt held by the public

They won't be the same because one only uses a single factor to figure what the final numbers are specifically it includes what the government owes itself. The other is just what the government owes to the outside of federal government and is not concern with what the government owes itself.

Student debt is just a number that is added to the total debt

 

[Dekster]

So that's it? Biden just waived his Harry Potter wand and poof $132 BILLION DOLLARS in student debt just disappears? Who loses? I'm guessing since it's a Democrat policy, the US taxpayer is going to foot the bill somehow.

Nobody really. That money was already borrowed and spent 10-15-25 years ago. It isn't like we even pretend to pay down the national debt. The however many billions is just expected future revenues. It is not something the government has to pay back to itself. Since the student loan system already loses a couple hundred billion a year, the more people they boot, the less the "losses" should be.

 

[Admiral Rockwell Tory]

under Trump the federal debt rose by 50%

under Biden the federal debt rose by 23%

you forget Trump tax cuts for the wealth. There were also tariff placed on certain products but it didn't help that much.

Biden's Numbers, October 2023 Update - FactCheck.org

Statistical measures of the economy, immigration, oil production and more since Biden became president.

www.factcheck.org

Trump's Final Numbers - FactCheck.org

Statistical indicators of President Trump's four years in office.

www.factcheck.org

Trump’s one-term presidency, the national debt had climbed to $27.76 trillion—a 39-percent jump from the $19.95-trillion debt the country had four years prior

he promised to reduce the debt in his first turn but failed and in fact increased it

Are you better off today than 4 years ago.? About 95% of Americans would like to go back to 2019.

 

[GLASNOST]

Who pays for the $132 billion in student debt that Biden has "cancelled'?​

Why should students have to pay to be educated in the first place?

 

[Batcat]

I was told, Biden couldn't do this, his presidential powers were limited...So what's next, Biden mandates slavery reparations? Repeals the third law of thermodynamics? Mandatory flat earth theory? I am lost here.

And the Democrats claim Trump will be a dictator! We have one in the Oval Office right now.

 

[ScorpioRising007]

I was told, Biden couldn't do this, his presidential powers were limited...So what's next, Biden mandates slavery reparations? Repeals the third law of thermodynamics? Mandatory flat earth theory? I am lost here.

I see it as a good thing and encourages education. Since Biden got in the White House it encouraged me to go back to college while I work full time to get a 2nd Master's degree in Healthcare. Hopefully my student debt will be next to zero by the time I am done.

 

[Hollie]

So that's it? Biden just waived his Harry Potter wand and poof $132 BILLION DOLLARS in student debt just disappears? Who loses? I'm guessing since it's a Democrat policy, the US taxpayer is going to foot the bill somehow.

It’s a continuation of the vote buying scheme Biden is addicted to. Biden will dump more debt on the taxpayers in the hope that millions of people who now get an opportunity to exploit Dems / Socialists ignoring USSC ruling will vote for their sugar daddy.