Posted on 04/10/2022 10:17:56 AM PDT by ChicagoConservative27
On this week’s broadcast of “Fox News Sunday,” White House press secretary Jen Psaki said that student loan borrowers would have to start paying their debt “sometime” while discussing the administration’s fourth extension on the monthly loan payments and interest.
Anchor Dana Perino said, “On December 11 of last year, you had said that getting loan rate payment back on track was the goal.”
(Excerpt) Read more at breitbart.com ...
Soros will pay it all off for them! Soros is the sugar daddy for all lefties in the Dem Party.
Come on George...STEP UP!
They have painted themselves into a corner. The way out that they will find is that they will pay off up to 10,000 of everybody’s debt or some number like that and that will allow them to extricate themselves from this terrible problem they’ve created
I was going o pay off all my children’s student loans but why bother if they are going to wipe them all out?
Who the heck knows what to do. I’ve paid hundreds of thousands of dollars to the government in taxes. Instead of paying off my house in 3 or 4 yeas, I had a 30 YEAR MORTGAGE.
We have a counter proposal. Allow $100k withdrawals from IRA’s tax free. Call it a tax cut for the rich. Rub their noses in it. These people have taken care of business and should be awarded. It’s not like we want others to pay our bills.
“She is incredibly stupid.”
No, she’s rather smart, and absolutely evil.
I think real reality has set in. While the so-called ‘President’ may be able to delay repayment for some concocted pseudo-emergency via declaring National Emergency, I don’t think he actually has the legal power to outright FORGIVE loans that aren’t specifically covered by Congressional statute.
For sure, if these student borrowers should die at an early age, the Devil would not be able to take their souls. They already owe their souls to US Federal Treasury and the Biden regime.
FWIW, that Bushie Dana Perino is a NWO shill, IMO.
The productive people will be paying. The dems will take credit for “forgiving” loans (an illegal act that attempts to invalidate an existing contract.)
Anybody who is foolish enough to work will be paying, as dems raise taxes through inflation, and by other sneaky ways.
The reason government took over student loans is to provide a mechanism to pay for the gold-plated retirement plans of all the government officials. Without student debt they either have to cancel the government defined benefit retirement plans or scale them back. So, they can’t cancel student debt.
They elected to take over student debt because those loans had a high historic payback rate. But then, they started giving the loans to everyone not just STEM students. A degree in Black Studies does not prepare someone for a job like a degree computer science.
Also, we need to ask why the education system is so expensive and actually unaffordable to average Americans. The only way to make it affordable is to offer loans as big as a home mortgage and that take as long to pay off.
All the rich suburban women who still pay for their kids school are gonna be pissed when they paid and others didn’t. The dems cannot push paying the debts off without kissing off the upper middle class democrats. And these people are currently essential to them
“I was going o pay off all my children’s student loans but why bother if they are going to wipe them all out?”
Isn’t that an example of the fundamental moral hazard here? Frankly, you would be a fool to do this.
It was pointed out that the working class unionized dems will be financing the college educated professional dems and their children. Who actually hate the working class, of course. Lovely.
They can’t “forgive” the loans because these loans have already been packaged into bonds and sold off. Allowing students to walk away from $1.5T+ in debt will cause a collapse in the U.S. dollar as a financial instrument.
So the indefinite deferral of debt payments is like the homeowner who defaults on his $300,000 mortgage because the home is now only worth $250,000. The bank refuses to foreclose on the property because it doesn’t want to take the $50,000 loss on the value of the asset. As long as the bank refuses to foreclose, it can still pretend the mortgage is worth $300,000 on its books while it hopes for the market to recover. The moment someone comes along and is willing to pay $300,000+ for the home, the bank notifies the delinquent borrower that they have to move out.
The parallels between the two situations are striking. The big problem with student debt is that there is no underlying asset serving as collateral for the loan.
My prediction is that the U.S. government is going to do something creative to maintain the value of the student loans by allowing borrowers to transfer it to another form of debt that has a collateralized asset to protect it. The most obvious scenario (as I see it) is to have the government allow a borrower to convert the outstanding balance on a student loan into a “subsidized” down payment on an overpriced home. Turn $100,000 in debt into a “down payment” on a $400,000 home and have the borrower sign a $500,000 mortgage at a low interest rate comparable to one for a government guaranteed loan.
I see a mob of retarded, snotty-nosed, “college” Snowflakes are trying to sue their “colleges” because of the “college’s” investments in fossil fuel companies. I know some affirmative action Feral “judge” is going to buy their crap but were do these Snowflake get their “standing” to sue anybody?
Student loan borrowers must thing the bank will let you keep your car or house if you don’t pay the loan somebody else will receive degree in stupidity and a free unicorn.
Especially if they ever vote the Marxists in.
In other breaking news, “Hillary Clinton will likely have to pay her debt to society at some time.”
Sure. Keep the hoping and while they are waiting for loan forgiveness and they aren’t paying it off, they will be buried under a mountain of debt and owe even more.
What a racket by the government.
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