This does not “spend” $400B. You don’t understand the first thing about this. |
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I always through it was just a cynical ploy by the Biden administration to buy votes right before the midterms or get outraged young people to vote if it got struck down by the courts.
They had ample time to forgive loans during the pandemic when inflation wasnt out of control and covid was more of a valid reason to do stuff like this. |
Student loan payments were suspended during the pandemic by Trump. Biden extended the Covid suspension of payments but that couldn’t go on forever. |
$400 Billion over 30 years is the estimated amount of loan payments that would have been paid by student loan borrowers. It isn’t current spending. It also is assuming that all those loans would have been paid off when we know some would be cancelled or reduced by some other program and some would default. It is not as blatant and immediate bribery as tax cuts for rich a$$holes who don’t need or deserve them, bailouts to farmers for the ag economy crash caused by Trump’s trade war, PPP handouts and forgiveness and its lack of any accountability and oversight. |
| Republicans blocked loan forgiveness with their lawsuit. They just lost my vote. |
Oh you mean like the President signing government checks instead of the Treasury Secretary?! Also there were tons of problems with loan servicers acting out of company profits instead of honoring options for borrowers. I’m tired of Republicans bending over backwards to protect corporations while middle class Americans are getting screwed. |
Biden would have never suspended student loan payments and has actually been wanting to restart payments his entire presidency. Trump gave him a gift he is capitalizing on as he realized the GOP would demonize their own child debtors and go to idiotic lengths to block even $10k of forgiveness. I wouldn't call it buying votes but more accepting them begrudgingly. |
Sorry about that. They just won my vote. |
Hey dummy, how do you think a 500B income gap gets plugged? |
And you will be voting for forced birthing and assault rifles too. |
PP said that Republicans "LOST" their vote. Hope I didn't pay off your student loans with my tax dollars. |
Research it. I already explained it twice. It’s not new spending. The CBO score is the amount not collected in loan repayments over the next 30 years. So it isn’t “spending” “right before the midterm”. |
Your taxes won’t pay off anyone’s student loans. Your taxes pay a tiny amount of the interest on all the federal debt piled up by Republican tax cuts since 1981. |
| I'm one of the 700,000 people who was supposed to get forgiveness, but lost eligibility. Screw Biden and the Dems for this false hope. |
I'm one of them too. But I never really had much hope for this. Oh well. |