Posted on 04/13/2022 12:46:54 PM PDT by ChicagoConservative27
Senate Majority Leader Charles Schumer (D-N.Y.) told activists on Wednesday that President Biden and his senior advisers are warming up to the idea of forgiving student debt, insisting they are closer to pulling the trigger “than ever before.”
Schumer, who has repeatedly called for canceling up to $50,000 in student debt per borrower, predicted that’s where the president and his administration will ultimately land.
(Excerpt) Read more at thehill.com ...
Any private holders of the debt will sue and win.
Even if only public debt, only Congress has this power.
So they are ‘forgiving’ debt. Yet whose is actually doing the ‘forgiving’, the politicians, or the taxpayer? I know to whom they want to the credit for this to be given.
Schumbag is setting some high expectations here. Imagine the impact on the folks who invested in those bonds? The government going to “make them whole” like they did with GM? Expect a shortage on KY...
Does the federal government guarantee student loans, and thus ultimately, be the entity which loses out if repayments aren’t made?
New Yorkers are complete idiots for electing Schumer over and over again. Republican legislators are complete pussies for not calling out Schumer. Now is not the time to be nice. We are in for an economic downturn that none of us can recall in our lifetimes and what do Democrats want to do? Spend money that does not exist.
people who wildly over-borrowed to pay for their college education...about as pure of a Democrat constituency you can find
I know at least three people that have held off refinancing their student loans so they can avail themselves of this eventually. My brother-in-law even joked when he took them out
(pursuing a Master of Divinity of all things) that he was never paying his back. Needless to say I don’t care for him. I am glad I refinanced mine...I wouldn’t want any part of this. If you incur a debt, you should pay it back.
What? By executive order?
What about all the kids who responsibly paid off their student loans?
My kids did.
Can’t they retroactively get their loans paid for them and get the money back?
This has to be seen for what it is: pandering and crass vote-buying.
But it is Putin causing inflation.
(But they'll still be working at Starbucks.)
Maybe it’ll be treated as a gift, and handed over to the tender mercies of the IRS. If people thought owing 120k in student debt was bad, wait until the IRS wants the taxes on a 120k gift...
Gonna piss off the responsible people.
They’ve been dangling that carrot in front of their cult followers for some time now.
Everyone who has debt, credit card, auto, house, even taxes should just refuse to pay. Using student debt cancellation as precedent. We’d overwhelm the debt collectors, and crash the system.
I believe it was Trump who once observed, “when you owe a $100K the bank owns you, when you owe billion$, you’re a partner and own the bank.
Does this include future debt? If no, why?
They don’t have the votes.
I gues they really think people with masters degrees in Ancient Mesopotamian Environmental Studies are going to thank them by voting for them in the fall. Chances are the peoooe who paid their bills are going to be pissed and will encourage them to vote too
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