Biden declines Democrats' call to cancel $50K in student debt

[Economy 53,133]

On 2/17/2021 at 10:09 AM, E Z said:

Unreasonable is a $1.5 trillion tax cut to people who don’t need it and will never “pay for itself.” 
 

This actually WILL stimulate the economy and people DO need it. The federal govt can snap its fingers to create any number necessary, but they just chose not to. And since this could just be an EO, Biden is the unreasonable one here specifically. 
 

I’ve been very charitable to Biden lately, but this is indefensible. 

To be fair i doubt Biden agrees with the $1.5 Trillion tax cut either. 

 

And i wouldnt say its "indefensible" like the government just commited the worst crime ever. U can disagree with it but theres arguments to make against forgiving THAT high an amount

 

Personally i wouldnt support it either unless it came along with reforms to lower tuition as well otherwise this will just send the message to future generations they dont need to worry about student debt cuz it could just be forgiven at any time on a snap of a finger and saving for tuition could stop even being a priority for some

 

To take on a cost this high and forgive that high an amount i personally only think its a good idea if it comes with other reforms on education as well along with it

 

Otherwise a 1 time randomly timed forgiveness on a long term issue doesnt fix the root cause of the problem and could send the wrong msg for ppl taking student loans for later times

[Economy 53,133]

On 2/17/2021 at 10:32 AM, weed said:

that's also my question... there needs to be a whole renovation on the loan system/college costs in general or it's just going to keep repeating itself over time.

Thats what im saying and i agree with @bionic

 

Id support this idea if it also came with reforms to lower tuition costs in general

 

But if nothing is changed with regards to education costs then this is just a random forgiveness that benefits only specifically the ppl who got lucky with the timing and nothing more.

 

It also could send the wrong message to students later on that its ok to pile on debt so long term could make things worse. They may reason if debt was forgiven once the government may do it again and may not prioritize fiscal prudence

[President Biden 5,898]

skip to the Jill Stein segment

 

A perfect explanation of why we can’t just “cancel debt” magically

[Economy 53,133]

On 2/17/2021 at 1:18 PM, PartySick said:

I actually disagree with him on it but you're right here. He's a supporter of free secondary education which will help prevent the current debt crisis from continuing on. But he could also relieve some of that pressure now too

I'm not shocked though. He's a centrist, not a leftist, and that's who we voted for he's doing a great job on literally everything else.

Heres my take on it. This generation is so pressured woth debt from high tuition costs that a partial forgiveness could really help some ppl out now and help the economy too

 

However a forgiveness this high is an expensive investment that will not fix the root issue if it doesnt come with other reforms as well to actually lower tuition costs

 

In fact if only debt is forgiven and nothing else is done, it could make it worse in the future. Future generations could anticipate another round of debt forgiveness and not even try as hard to avoid debt and saving for tuition forcing the government to be on the hook yet again... or make them in financial trouble if the government chose not to forgive debt a 2nd time

 

I think a better plan is to do this higher forgiveness IF it also comes with reforms to lower tuition costs to fix the root problem as well

 

If they cant pass that for now, then they could do a smaller partial forgiveness for a more immediare short term help while they work on bigger long term reforms but not enough forgiveness to discourage prudence. And then once they mamage to pass some reforms then forgive some more later

 

Cuz to simply forgive a large sum and leave it at that i think long term will not only solve nothing but potentially make it worse...

 

The kind of cost that this would come with u wanna do stuff that will have long lasting impacts, not something to help an economic symptom in the short term only to have the problem repeat in the long term

[MJHolland 12,725]

On 2/18/2021 at 9:49 AM, Chromatican said:

Sander's popularity was obvious, and it took a well known former VP who had tons of endorsements and corporate money behind him to stop his momentum. Not you underestimating how impressive Bernie's grassroots funding was. I guess it's more impressive to take corporate money. That's the distinction progressives have, between being a people powered campaign and a corporate powered campaign. I'm sure you know that, but have fun shilling for an accused rapist.

Huh? Pete f*cking Buttigieg beat him in Iowa and if it weren’t for the ****up he would have beat him NH too lol 

[Chromatican 4,046]

4 minutes ago, MJHolland said:

Huh? Pete f*cking Buttigieg beat him in Iowa and if it weren’t for the ****up he would have beat him NH too lol 

Lol, too bad Pete didn't come close to Bernie's 1,073 delegates, Pete got a mere 21, and his Iowa win... chile.

Bernie got a higher percentage of the vote in Iowa and overall than Pete in the primary, let's not go there.

[Guest]

Did some of you really hear student loan forgiveness and think they’d wipe away your entire student loan debt? 

[MJHolland 12,725]

11 hours ago, Chromatican said:

Lol, too bad Pete didn't come close to Bernie's 1,073 delegates, Pete got a mere 21, and his Iowa win... chile.

Bernie got a higher percentage of the vote in Iowa and overall than Pete in the primary, let's not go there.

Ok but Biden also got way more primary votes than Bernie but you still think Bernie is more popular? Make it make sensssse 

Listen I don’t wanna derail a thread over this, bc I hate that Biden rejected this proposal don’t get me wrong. 

[Mikah 156]

I say just keep them 0% interest so we can pay them off easier. 

[Gagaloo911 12,959]

Also, the fact Biden's Justice Dept is PROTECTING Betsy Devos right now when she BROKE THE LAW, should tell us everything we need to know about whether Biden really cares about this issue and is going to actually protect students and those who were defrauded by the Education Dept under her.

[bionic 50,111]

On 2/21/2021 at 2:46 AM, Gagaloo911 said:

Also, the fact Biden's Justice Dept is PROTECTING Betsy Devos right now when she BROKE THE LAW, should tell us everything we need to know about whether Biden really cares about this issue and is going to actually protect students and those who were defrauded by the Education Dept under her.

The Attorney General hasn't even been confirmed yet