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...
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.
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.)
Gonna piss off the responsible people.
They’ve been dangling that carrot in front of their cult followers for some time now.
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
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 people who paid their bills are going to be pissed and will encourage them to vote too
My daughter and her husband paid off $60,000 in student loan debt in 3 years. They did it by only buying essentials and eating rice and beans.
They’re gunna’ feel like suckers if this goes through.
Not only is this unethical and unfair to those that pay. But this is once again highly inflationary. Now the US taxpayer is on the hook. The national debt goes up and up. We borrow more and more.
Yo Chuck you are aware my mortgage went to college.
They are just admitting outright that the value of a college education in real terms is worth about as much as the stuff you flush down the toilet.
That means that the amount charged by the “institutions of higher education “ is inflated beyond all imagination. Parents of high school age children should take note.