America's #1 Online Cigar Auction
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Last post 20 months ago by Sunoverbeach. 56 replies replies.
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$300 billion
deadeyedick Offline
#1 Posted:
Joined: 03-13-2003
Posts: 16,957
My mortgage wants to identify as a student loan. Brick wall
HockeyDad Offline
#2 Posted:
Joined: 09-20-2000
Posts: 46,065
More free money being redistributed!
HockeyDad Offline
#3 Posted:
Joined: 09-20-2000
Posts: 46,065
Student loans are a burden.

The burden is especially heavy on Black and Hispanic borrowers, who on average have less family wealth to pay for it. They don't own their homes to borrow against to be able to pay for college.
danmdevries Offline
#4 Posted:
Joined: 02-11-2014
Posts: 17,124
Good. Tax money helping at home. Even though it's just a veiled payment for the banks, there's some benefit to the american people for once.

Took me 10 years to pay off my $100k, and I went to state college in Gary Indiana. But when I started I was homeless and only had a GED. I had to live on the loans despite working 2-3 jobs the entire time.

And you know damn well tuition everywhere just went up 10k.
Gene363 Offline
#5 Posted:
Joined: 01-24-2003
Posts: 30,669
Total Bullshit! Taxpayers* take it in the ass and professional students collect a payday.

* Taxpayers including those that PAiD for their education, people that did not go to college but are earning a decent wage and people that invested their own money in a business created jobs, and employ people.
KingoftheCove Offline
#6 Posted:
Joined: 10-08-2011
Posts: 7,600
Any chance this debt relief is retroactive?
I mean, I paid off my $10,000 student loan back in 1981……..didnt even get a thank you note.
Gene363 Offline
#7 Posted:
Joined: 01-24-2003
Posts: 30,669
deadeyedick wrote:
My mortgage wants to identify as a student loan. Brick wall


Ours does too! horse
MACS Offline
#8 Posted:
Joined: 02-26-2004
Posts: 79,593
So why not forgive car loans? Or mortgage loans? What is the fkn difference?

This is absolute bullchit, and if the loans are to be forgiven it should be by the institutions that charged them exorbitant amounts and have yuge endowments, NOT the fkn taxpayers.

Absolute horse sheit.
HockeyDad Offline
#9 Posted:
Joined: 09-20-2000
Posts: 46,065
The difference is the government is the lender.
Gene363 Offline
#10 Posted:
Joined: 01-24-2003
Posts: 30,669
MACS wrote:
So why not forgive car loans? Or mortgage loans? What is the fkn difference?

This is absolute bullchit, and if the loans are to be forgiven it should be by the institutions that charged them exorbitant amounts and have yuge endowments, NOT the fkn taxpayers.

Absolute horse sheit.


Great idea!
frankj1 Offline
#11 Posted:
Joined: 02-08-2007
Posts: 44,211
KingoftheCove wrote:
Any chance this debt relief is retroactive?
I mean, I paid off my $10,000 student loan back in 1981……..didnt even get a thank you note.

Thank you.
bgz Offline
#12 Posted:
Joined: 07-29-2014
Posts: 13,023
Wish I had some student loans... wonder if I can go grab one real quick.
frankj1 Offline
#13 Posted:
Joined: 02-08-2007
Posts: 44,211
apply to Trump University...
Trump University (also known as the Trump Wealth Institute and Trump Entrepreneur Initiative LLC).
RayR Offline
#14 Posted:
Joined: 07-20-2020
Posts: 8,796
The institutions that charge exorbitant amounts did so because they smelled easy money from the gubment given out to any schmuck that thought he needed a college education or wanted to party. The perfect anti-market recipe for jacking up your prices to the sky. THANKS SOCIALIST LEFTY!
Now that dirtbag Biden wants to buy votes, sticking the bill to the schmuck taxpayers.
BuckyB93 Offline
#15 Posted:
Joined: 07-16-2004
Posts: 14,111
Free $10k for Bucky! Whoop, whoop!
bgz Offline
#16 Posted:
Joined: 07-29-2014
Posts: 13,023
RayR wrote:
The institutions that charge exorbitant amounts did so because they smelled easy money from the gubment given out to any schmuck that thought he needed a college education or wanted to party. The perfect anti-market recipe for jacking up your prices to the sky. THANKS SOCIALIST LEFTY!
Now that dirtbag Biden wants to buy votes, sticking the bill to the schmuck taxpayers.


Didn't work for trump either.
RayR Offline
#17 Posted:
Joined: 07-20-2020
Posts: 8,796
bgz wrote:
Didn't work for trump either.


TDS enters the thread.
ZRX1200 Offline
#18 Posted:
Joined: 07-08-2007
Posts: 60,476
Welcome to Amerikkka where we partially treat symptoms and don’t are about causes/cures!

Make it dischargable. Period. Force institutions to be price competitive and quit bailing out schools/teachers.
RayR Offline
#19 Posted:
Joined: 07-20-2020
Posts: 8,796
A real free market forces institutions to be price competitive. A paternalistic government is the enemy of the free market, where the consumer gets screwed.

This is a perfect example of what Harry Browne once said...

“The government is good at one thing. It knows how to break your legs, and then hand you a crutch and say, 'See if it weren't for the government, you wouldn't be able to walk.”

LEFTY probably won't understand this though.
BuckyB93 Offline
#20 Posted:
Joined: 07-16-2004
Posts: 14,111
Before I get slammed on my #15 post, I don't agree with the policy. Printing money and buying votes. How many college degrees are completely worthless in the world today? If you pick an area of study and rack up loans that you can't pay because your choice of study is essentially worthless in the real world, that's 100% on you.

My first degree from UW-Madison I think I racked up around $20k in loans (this was back in the early 90's) and paid them off like any responsible person should. You signed the paperwork, you knew you had to pay it back.

This current degree I'm finishing, although it was paid for 100% by my employer's scholarship program, I qualified for federal loans. I accepted them and squirreled it away in an account separate from my regular personal finances in case I needed it and also knowing that I will have to pay it back. The interest rate on my federal loans 0% while still in school, then 3% interest (if I remember correctly) starting 6 months after graduation.

It sits there waiting for me when it's time to pay the piper. I don't know how or if this proposed policy will impact on what I'll need to payback, have to see how it settles out.

P.S. How much blow and hoes can one buy with $10k.... asking for a friend.
Sunoverbeach Offline
#21 Posted:
Joined: 08-11-2017
Posts: 14,586
Well that depends on the quality of your hoes and your blow, not to mention pricing in your local market. Do some research and let us know
DrMaddVibe Offline
#22 Posted:
Joined: 10-21-2000
Posts: 55,301
BuckyB93 wrote:
P.S. How much blow and hoes can one buy with $10k.... asking for a friend.


Your mission, should you choose to accept it, is to face your fate. Good luck, Mr. Bucky.

This message will self-destruct in 5 seconds.


https://youtu.be/tGSUjuSBt1A

DrMaddVibe Offline
#23 Posted:
Joined: 10-21-2000
Posts: 55,301
Who likes buying votes? DNC do!

Who likes a Ukrainian slush fund disguised as military aid AND cripples our own military at the same time? DNC do!

Who likes a spending bill like a free unlocked ATM at a stripclub? DNC do!

Where this money coming from? Lefty doesn't care...dolla billz ya'all, dolla dolla billz. Makin' it rain up in he'ah!

Burner02 Offline
#24 Posted:
Joined: 12-21-2010
Posts: 12,861
MACS wrote:
So why not forgive car loans? Or mortgage loans? What is the fkn difference?



Those will be next for the everyone gets a trophy crowd.
deadeyedick Offline
#25 Posted:
Joined: 03-13-2003
Posts: 16,957
HockeyDad wrote:
The difference is the government is the lender.


Last I heard the government does not have money. We are the lender.
bgz Offline
#26 Posted:
Joined: 07-29-2014
Posts: 13,023
BuckyB93 wrote:
Before I get slammed on my #15 post....


Nobody cares that your wally world azz is taking a handout.

Go get that loot, you're basically on par with the minorities RayRay is always crying about.

You would probably get more by jacking a car... but that's unadvisable... they would actually try to catch you... you're the wrong color for that.

At least world according to RayRay...
BuckyB93 Offline
#27 Posted:
Joined: 07-16-2004
Posts: 14,111
deadeyedick wrote:
Last I heard the government does not have money. We are the lender.


This.

Just kicking the can down the road for future generations to deal with. They do it every time we reach the debt ceiling.
DrMaddVibe Offline
#28 Posted:
Joined: 10-21-2000
Posts: 55,301
BuckyB93 wrote:
This. Just kicking the can down the road for future generations to deal with.

They do it every time we reach the debt ceiling.


We're past the point of even being able to pay the interest now though.
deadeyedick Offline
#29 Posted:
Joined: 03-13-2003
Posts: 16,957
BuckyB93 wrote:
This. Just kicking the can down the road for future generations to deal with.

They do it every time we reach the debt ceiling.


But Biden is doing everything he can to just inflate it away. I'm beginning to think my I Bonds will be inflated to worthless or even negative soon enough.
CelticBomber Offline
#30 Posted:
Joined: 05-03-2012
Posts: 6,786
DrMaddVibe wrote:
Who likes buying votes? Bush!

Who likes a Ukrainian slush fund disguised as military aid AND cripples our own military at the same time? Republicans and Democrats! The vote was 86 - 11

Who likes a spending bill like a free unlocked ATM at a stripclub? Both sides. Don't make me start looking up pork bills for either side. I've only got maybe 30 years of life left. I'll never finish.

Where this money coming from? Our tax dollars being used at home! Yay!...dolla billz ya'all, dolla dolla billz. Makin' it rain up in he'ah!


Make it rain over here! I'll show you my t1ts!
RayR Offline
#31 Posted:
Joined: 07-20-2020
Posts: 8,796
I thought the last criminal BS from Biden bill said that it would reduce the federal deficit by $300 billion and now this next unconstitutional plan will Build It Better Back.
DrMaddVibe Offline
#32 Posted:
Joined: 10-21-2000
Posts: 55,301
CelticBomber wrote:
Make it rain over here! I'll show you my t1ts!



That's an offer Ben would take you up on. Me, I'm not down with your pronoun salad and IQ deficiency. Thanks for trolling though! You're just not ever going to be my type!
bgz Offline
#33 Posted:
Joined: 07-29-2014
Posts: 13,023
DrMaddVibe wrote:
That's an offer Ben would take you up on. Me, I'm not down with your pronoun salad and IQ deficiency. Thanks for trolling though! You're just not ever going to be my type!


Damn... he said Celtic has low IQ... and wants to see my t*tties...

lmfao

I think he's your type... definitely your type.

HockeyDad Offline
#34 Posted:
Joined: 09-20-2000
Posts: 46,065
CelticBomber wrote:
Make it rain over here! I'll show you my t1ts!


Wrong login?
HockeyDad Offline
#35 Posted:
Joined: 09-20-2000
Posts: 46,065
People who couldn’t go to college will pay taxes to subsidize people who could go to college.

That’s how it’s done people….right in plain sight!
DrMaddVibe Offline
#36 Posted:
Joined: 10-21-2000
Posts: 55,301
Obama's Chief Economic Advisor Blasts Biden's "Reckless" Student Debt Bailout



Consider the source...

Jason Furman is an American economist and professor at Harvard University's John F. Kennedy School of Government and a Senior Fellow at the Peterson Institute for International Economics.

On June 10, 2013, Furman was named by President Barack Obama as chair of the Council of Economic Advisers.


Ok so having explained the "who", here is the "what"...

Furman's thread continues...

The White House fact sheet has sympathetic examples about a construction worker making $38K and a married nurse making $77,000 a year.

But then why design a policy that would provide up to $40,000 to a married couple making $249,000? Why include law and business school students?

BTW, those examples also contradict the baseline some have concocted to claim that this won't raise inflation. The claim it won't raise inflation is based on the construction worker going from permanently paying $0 interest to paying $31 a month at an annual cost of $372.

You can't use one baseline (interest payments suspended) to argue this will constrain demand & then a different baseline (interest payments restored) to describe the benefits. That is incoherent, inconsistent & indefensible cherry picking--I hope the White House doesn't do it.

Also need to be careful with all of the distributional numbers because the beneficiaries will tend to have higher lifetime incomes than current incomes. A 24 year-old making $75,000 is likely to be at a relatively high percentile on a lifetime basis.

There are a number of other highly problematic impacts including encouraging higher tuition in the future, encouraging more borrowing, creating expectations of future debt forgiveness, and more.

Most importantly, everyone else will pay for this either in the form of higher inflation or in higher taxes or lower benefits in the future. I did a thread on this last night but given the new announcement you need to double everything in it.

The stimulus is relatively small (a multiplier of ~0.1). So the inflation impact is likely to be about 0.2-0.3pp. That is $150-200 in higher costs for a typical household.

If the stimulus matched what advocates used to argue the inflation would be higher.

That is a relatively small inflation number. But would take about 50-75bp on the fed funds rate to extinguish that much inflation. Is the Fed going to try to offset this? Or will it do what it did with the American Rescue Plan and ignore that rapidly changing fiscal landscape?

Finally, it's not obvious to me that this is reasonable for a President to do unilaterally. A number of lawyers (and political leaders) have argued inconsistent with the law. Even if technically legal I don't like this amount of unilateral Presidential power.

We look forward to hearing Biden's chief economic adviser Jared Bernstein's arguments 'for' the vote-buying bailout... once again, consider the source.

https://www.zerohedge.com/political/obamas-chief-economic-advisor-blasts-bidens-reckless-student-debt-bailout


The Fed wiping out...LOLZ...they're going to bury their head and pretend they've never heard of Cloward/Piven
bgz Offline
#37 Posted:
Joined: 07-29-2014
Posts: 13,023
HockeyDad wrote:
People who couldn’t go to college will pay taxes to subsidize people who could go to college.

That’s how it’s done people….right in plain sight!



But mine was already subsidized ahHhHhHHhH!

Thanks man, I appreciate it.
HockeyDad Offline
#38 Posted:
Joined: 09-20-2000
Posts: 46,065
bgz wrote:
But mine was already subsidized ahHhHhHHhH!

Thanks man, I appreciate it.


You’re welcome! Now fix me a sammich.
CelticBomber Offline
#39 Posted:
Joined: 05-03-2012
Posts: 6,786
DrMaddVibe wrote:
Obama's Chief Economic Advisor Blasts Biden's "Reckless" Student Debt Bailout


Now Obama and his guys are a credible source for you? That's hilarious!
HockeyDad Offline
#40 Posted:
Joined: 09-20-2000
Posts: 46,065
CelticBomber wrote:
Now Obama and his guys are a credible source for you? That's hilarious!


Obama is a credible source for me. He owns a bunch of beachfront property.
bgz Offline
#41 Posted:
Joined: 07-29-2014
Posts: 13,023
HockeyDad wrote:
You’re welcome! Now fix me a sammich.


Nah, I graduated over 20 years ago... get your secretary to do it.
Gene363 Offline
#42 Posted:
Joined: 01-24-2003
Posts: 30,669
HockeyDad wrote:
People who couldn’t go to college will pay taxes to subsidize people who could go to college.

That’s how it’s done people….right in plain sight!


Don't forget those that paid their own college costs, companies that paid for their employees to get a degree, and the student loan recipients that paid back their loans.

On the positive side, all the more pissed off voters to vote in November, too bad there isn't much difference in either party.
DrMaddVibe Offline
#43 Posted:
Joined: 10-21-2000
Posts: 55,301
CelticBomber wrote:
Now Obama and his guys are a credible source for you? That's hilarious!



I never said anything about credible. At all. You brought that in with your titties. Equally hilarious.

If anything the Kenyan King is the hand up the meat puppet that you're attracted to. He does have a tranny wife so there's hope for you! Say, can you drive a limo or pass out towels at bath houses?
BuckyB93 Offline
#44 Posted:
Joined: 07-16-2004
Posts: 14,111
HockeyDad wrote:
People who couldn’t go to college will pay taxes to subsidize people who could go to college.
That’s how it’s done people….right in plain sight!


^ This

Gene363 wrote:
Don't forget those that paid their own college costs, companies that paid for their employees to get a degree, and the student load recipients that paid back their loans.

On the positive side, all the more pissed off voters to vote in November, too bad there isn't much difference in either party.


And ^ This

It's franked up.

Question for me is... how can the POTUS, with a stroke of the pen or a press conference, just write off and magically eliminate personal debt to the tune of 300 billion?

I'm not an accountant nor a scholar of Federal authority but shouldn't this have to go through the appropriate checks and balances?


HockeyDad Offline
#45 Posted:
Joined: 09-20-2000
Posts: 46,065
bgz wrote:
Nah, I graduated over 20 years ago... get your secretary to do it.


Well you just acquired some more student debt!
HockeyDad Offline
#46 Posted:
Joined: 09-20-2000
Posts: 46,065
BuckyB93 wrote:
^ This



And ^ This

It's franked up.

Question for me is... how can the POTUS, with a stroke of the pen or a press conference, just write off and magically eliminate personal debt to the tune of 300 billion?

I'm not an accountant nor a scholar of Federal authority but shouldn't this have to go through the appropriate checks and balances?





9/11 changed everything
RayR Offline
#47 Posted:
Joined: 07-20-2020
Posts: 8,796
Right HD, that progressive Bush Jr. creep said about his dicktates would be much easier to make if he was a dicktator

Dicktator Obama took it further with that "I've got a pen, and I've got a phone." to do an end run around congress if they don't rubber stamp his dicktates.
That's what DICKTATOR do.
MACS Offline
#48 Posted:
Joined: 02-26-2004
Posts: 79,593
HockeyDad wrote:
People who couldn’t go to college will pay taxes to subsidize people who could go to college.

That’s how it’s done people….right in plain sight!


When it should be the universities themselves, with billions in endowments, who just forgive the loans, not the mother forkin' taxpayers getting shafted while the politicians (dem/rep) and their mother forkin' cronies get rich.

It's time, folks... time to take our country back from the corrupt.
Brewha Offline
#49 Posted:
Joined: 01-25-2010
Posts: 12,147
MACS wrote:


It's time, folks... time to take our country back from the corrupt.

See - now you have a sense of humor!

LOL
Sunoverbeach Offline
#50 Posted:
Joined: 08-11-2017
Posts: 14,586
Where are average things manufactured?
The satisfactory
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