The Biden Presidency 2022

The idea of forgiving $10,000 for someone that makes $124k a year is ridiculous.

I am a believer that everybody should pay the debt they agreed on. If the government wants to do something preventative, they should just lower the interest rate to zero and make the borrower pay the initial amount. That way the amount isn't growing and people can slowly work away at their debt.

Quote: DRich

The idea of forgiving $10,000 for someone that makes $124k a year is ridiculous.

It is a $500 billion payoff for the colleges and universities that have donated more than $100 million to the democrats.

Enrollment is down 4.7% and they are increasing tuition an average of 3.5% for the coming year.

The $500 billion goes a long way toward increasing enrollments.

'Watchdogs see Biden’s student-loan plan costing $500 billion to $1 trillion, while White House says $1 trillion isn’t ‘anywhere in the ballpark’

Whether $500 or $1 trillion, it erases a year's worth of intended FED balance sheet reductions. Meaning, no end to inflation.

At least the majority are getting what they voted for.

Quote: DRich

The idea of forgiving $10,000 for someone that makes $124k a year is ridiculous.

I am a believer that everybody should pay the debt they agreed on. If the government wants to do something preventative, they should just lower the interest rate to zero and make the borrower pay the initial amount. That way the amount isn't growing and people can slowly work away at their debt.

Are you in favor of getting rid of bankruptcy settlements. Full payoff, full interest owed and penalties, no matter what.

I gave old Joe a chance but this straw broke the camel's back.

Bah.

Quote: rxwine

Are you in favor of getting rid of bankruptcy settlements. Full payoff, full interest owed and penalties, no matter what.

I have never given it much thought because I don't know anyone that has filed bankruptcy, but probably yes for individuals. If you commit, pay the bill. I might make an exception for life saving medical procedures.

Quote: Tanko

Whether $500 or $1 trillion, it erases a year's worth of intended FED balance sheet reductions. Meaning, no end to inflation.

The Dow was down more than 1,000 points on Friday, and futures today are currently down another 270 points.

It may be due in part, to the impending Fed interest rate hikes, but this latest Biden spending spree, also has something to do with it. It proves the administration does not care about curbing inflation.

The administration is following 'Modern Monetary Theory'.

"Theory". As in 'unproven' and 'may not work'.

Physician Michael Burry predicted the 2008 crash. The film 'The Bill Short' is based upon his predictions.

He sold his portfolio, except for GEO, a few weeks ago.

‘Big Short’ investor Michael Burry dumps stock portfolio after market crash
warnings'

Those articles saved me a lot of money.

Quote: missedhervee

I gave old Joe a chance but this straw broke the camel's back.

Bah.

How so? Its something that he campaigned on since early on. It's never been a secret. Granted since being elected he has been evasive about the issue until last week (probably intentionally for political capital at the right point).

It would be more outrageous if he did not do something that he promised. But, you can't really hold a campaign promise against somebody.

Quote: Gandler

But, you can't really hold a campaign promise against somebody.

I disagree with that.

Joe talked about a lot of things.

This is a bribe to the young, the progressives.

Republican parents usually pay for college; democrat parents typically cannot afford it.

I paid off my loans, so should they.

It will only hurt inflation, incurring more government debt.

Quote: missedhervee

This is a bribe to the young, the progressives.

I agree! Rewarding his voters. Just as Donny rewarded his rich voters with his tax scam bill.