Biden touted as creating yet more inflation with debt forgiveness.

[Twilight Hue]

Mind you this is coming from a top Obama advisor. Pouring gasoline on the inflationary fire.

Biden is 'pouring gasoline on the inflationary fire' with his $10,000 student debt cancellation, a top Obama economist warns

Guess we will have to see how bad prices go up including college tuition, as this money windfall heads towards higher learning institutions arguably eager for a chunk of cash.

 

[metis]

It's sorta pathetic that now the Pubs are worried about inflation, but it certainly didn't bother them to pass Trump's massive giveaway to business.

On top of that, it seems to me that helping our students have better access to post high school programs benefits them and also our country. If my cousins in Sweden have this, and it is not as wealthy a country as we are, then it seems only right to actually try and help our own youth instead of mainly focusing on mainly "my hard-earned money" that is all so often just a form of self-centered materialism.

ADDED: Oh yes, inflation is important, but maybe all those corporate and farm subsidies can be reduced somewhat so as we can actually help our own youth. Gee, how radical is that, eh?

 

[Yerda]

It's sorta pathetic that now the Pubs are worried about inflation, but it certainly didn't bother them to pass Trump's massive giveaway to business.

This is the issue that they have, innit? People who aren't them benefitting financially from govt policy.

I mean how much debt has been forgiven by the US govt over the years? But if the forgiveness helps any of the poors it's an outrage.

 

[Colt]

It's sorta pathetic that now the Pubs are worried about inflation, but it certainly didn't bother them to pass Trump's massive giveaway to business.

On top of that, it seems to me that helping our students have better access to post high school programs benefits them and also our country. If my cousins in Sweden have this, and it is not as wealthy a country as we are, then it seems only right to actually try and help our own youth instead of mainly focusing on mainly "my hard-earned money" that is all so often just a form of self-centered materialism.

ADDED: Oh yes, inflation is important, but maybe all those corporate and farm subsidies can be reduced somewhat so as we can actually help our own youth. Gee, how radical is that, eh?

What's pathetic is that you think ONLY (R)'s care about inflation! The middle class and the poor are the ones most affected!

The reason for college tuition inflation is the availability of easy loans. Like when the Fed gov encouraged subprime lending, 100% loans which had to be bailed out with massive loses! Now we have to start bailing out the student loan scam!

America already gives free education k-12.

 

[Suave]

Mind you this is coming from a top Obama advisor. Pouring gasoline on the inflationary fire.

Biden is 'pouring gasoline on the inflationary fire' with his $10,000 student debt cancellation, a top Obama economist warns

Guess we will have to see how bad prices go up including college tuition, as this money windfall heads towards higher learning institutions arguably eager for a chunk of cash.

We may very well need to inflate our way out of the massive debt financing for all the social welfare programs and clean renewable energy development programs we'd like in order to reduce wealth inequalities as well as for diminishing catastrophic global warming,

 

[Revoltingest]

Mind you this is coming from a top Obama advisor. Pouring gasoline on the inflationary fire.

Biden is 'pouring gasoline on the inflationary fire' with his $10,000 student debt cancellation, a top Obama economist warns

Guess we will have to see how bad prices go up including college tuition, as this money windfall heads towards higher learning institutions arguably eager for a chunk of cash.

Have you seen a cogent argument about how
this would increase inflation? I wonder.

 

[Twilight Hue]

Have you seen a cogent argument about how
this would increase inflation? I wonder.

I would say hiked tuition fees and interest for starters.

 

[Colt]

This is the issue that they have, innit? People who aren't them benefitting financially from govt policy.

I mean how much debt has been forgiven by the US govt over the years? But if the forgiveness helps any of the poors it's an outrage.

The education that they are getting must not include personal finance?

What about car loans? Like college, cars have become so expensive, why should we have to pay those loans back?

 

[Revoltingest]

I would say hiked tuition fees and interest for starters.

Why would this debt forgiveness cause tuition to increase.
I can see an interest rate hike, since the default rate will
be higher, thereby increasing losses.

 

[Revoltingest]

The education that they are getting must not include personal finance?

What about car loans? Like college, cars have become so expensive, why should we have to pay those loans back?

People shouldn't borrow money to get an education
that won't train them for a profession that would
enable paying the loan back.

 

[Colt]

Have you seen a cogent argument about how
this would increase inflation? I wonder.

Loan payments continue to be differed due to covid. The argument is that the extra cash will continue to be spent in a white-hot economy.

 

[Yerda]

The education that they are getting must not include personal finance?

What about car loans? Like college, cars have become so expensive, why should we have to pay those loans back?

Are you upset by any form of loan forgiveness?

 

[Colt]

People shouldn't borrow money to get an education
that won't train them for a profession that would
enable paying the loan back.

Well duh! but no one has to be responsible for their choices anymore in America! How many "environmental studies" majors are needed? Its soooooo common for kids to graduate college and have no marketable skill!

 

[Revoltingest]

Loan payments continue to be differed due to covid. The argument is that the extra cash will continue to be spent in a white-hot economy.

There's an interesting situation when a loan is forgiven.
The IRS treats forgiven principal & even interest as
income to the beneficiary. This is so in real estate.

If it also applies to student loans, government would
be cheating the lenders in order to collect income
tax from the student borrowers. Sneaky. Larcenous.

 

[Colt]

Are you upset by any form of loan forgiveness?

I have an issue with subsidizing failure rather than fixing it.

I also have an issue with buying votes!

 

[Revoltingest]

Well duh! but no one has to be responsible for their choices anymore in America! How many "environmental studies" majors are needed? Its soooooo common for kids to graduate college and have no marketable skill!

Responsible for our own choices?
Are you mad, comrade!

 

[Colt]

There's an interesting situation when a loan is forgiven.
The IRS treats forgiven principal & even interest as
income to the beneficiary. This is so in real estate.

If it also applies to student loans, government would
be cheating the lenders in order to collect income
tax from the student borrowers. Sneaky. Larcenous.

I doubt this program will have the same penalties.

 

[Revoltingest]

I doubt this program will have the same penalties.

I don't share your optimism for government's benevolence.

 

[Colt]

Responsible for our own choices?
Are you mad, comrade!

Thats right! in 2008 we saw the consequences of the government subsidizing high credit risk barrowers through Fannie Mae and Freddie Mac. Anyone with a pulse was given a mortgage, 100+% loans! We were screaming to stop but the (D)'s wouldn't listen. So, the Tax payer had to bail it out just like we have to bail out the student loan program.

 

[Shaul]

This is the issue that they have, innit? People who aren't them benefitting financially from govt policy.

I mean how much debt has been forgiven by the US govt over the years? But if the forgiveness helps any of the poors it's an outrage.

Look! Some “poor” college students who each got a $10,000 “gift”.

Look! Some of the “rich” suckers who will pay for those gifts.