Biden on forgiving student loan debt

[pknopp]

And who does everyone thing will be picking up the tab??

Why we tax payers of course.

If you want to go to college, get a job or a loan and go. Just don't expect the tax payers to pay your college bill for you.

The same people who pick up the tab when a big corporation bails and raids the retirement funds the govt. insures.

Then that makes everything okay? I’m tired of every stupid decision someone makes, we pay for. Trillions in debt, and those that promised to pay need to be held accountable and quit sponging off the working middle class.

I'm not meaning to promote debt but I am curious... How has the trillions in debt that our country has accumulated impacted your life?

It's going to. The rest of the world isn't going to allow us to print, print, print to buy new cars and vacation homes while they struggle with basic needs forever. It may not affect me but it's going to greatly affect future generations and as I note many times, it's not just about me.

I get the "its going to" argument but we have carried a national debt for generations. So my question is what actual effects have you felt in your lifetime as a result of the national debt?

Higher taxes. As the debt grows, so do the interest payments, and so does the need for additional tax revenue.

The main problem is the US govt. is only paying the interest and not the interest and the debt.

How exactly does the US Govt. pay the debt back? Who are they paying and when are payments due? Can you give a practical example?

So the debt doesn't matter? This has been asked 5-6 times at least with no answer.

That was my questions to YOU. Thats what started this whole conversation. I asked what actual real impact the debt has had on your life. What real and direct effects does it have on the economy that you or generations before you have actually felt. You have listed a few examples but what you've listed are directly tied to the debt.

All of it is tied to the debt. I've said that all along. Rates are low so we can pretend to be able to afford the debt.

What do you mean "afford" the debt? You know its not a credit card bill right? The national debt is not intended to ever be completely paid off, right? It is a system that is managed... it is very different that your household budgets

So the debt doesn't matter?

 

[Slade3200]

And who does everyone thing will be picking up the tab??

Why we tax payers of course.

If you want to go to college, get a job or a loan and go. Just don't expect the tax payers to pay your college bill for you.

The same people who pick up the tab when a big corporation bails and raids the retirement funds the govt. insures.

Then that makes everything okay? I’m tired of every stupid decision someone makes, we pay for. Trillions in debt, and those that promised to pay need to be held accountable and quit sponging off the working middle class.

I'm not meaning to promote debt but I am curious... How has the trillions in debt that our country has accumulated impacted your life?

It's going to. The rest of the world isn't going to allow us to print, print, print to buy new cars and vacation homes while they struggle with basic needs forever. It may not affect me but it's going to greatly affect future generations and as I note many times, it's not just about me.

I get the "its going to" argument but we have carried a national debt for generations. So my question is what actual effects have you felt in your lifetime as a result of the national debt?

Higher taxes. As the debt grows, so do the interest payments, and so does the need for additional tax revenue.

Can you show the linkage? The debt and deficit went up at record levels under Trump and they cut taxes.

History did not start with TRUMP!. Since Reagan's big tax cut we've had several tax increases. And you do realize that deficit spending ultimately has to be covered by tax increases.

Why does it have to be covered by tax increases? There are plenty of theories that rely on economic growth to cover the deficit. There are others that don't think a growing deficit/debt as a bad thing. As long as money is flowing then thats how a national economy is supposed to function.

So debt doesn't matter?

The debt does matter but not in the same way as an individuals debt matters. A national debt is a very different thing. It is a system that needs to be managed to optimize the value of currency and a reliable credit rating.

 

[Slade3200]

And who does everyone thing will be picking up the tab??

Why we tax payers of course.

If you want to go to college, get a job or a loan and go. Just don't expect the tax payers to pay your college bill for you.

The same people who pick up the tab when a big corporation bails and raids the retirement funds the govt. insures.

Then that makes everything okay? I’m tired of every stupid decision someone makes, we pay for. Trillions in debt, and those that promised to pay need to be held accountable and quit sponging off the working middle class.

I'm not meaning to promote debt but I am curious... How has the trillions in debt that our country has accumulated impacted your life?

It's going to. The rest of the world isn't going to allow us to print, print, print to buy new cars and vacation homes while they struggle with basic needs forever. It may not affect me but it's going to greatly affect future generations and as I note many times, it's not just about me.

I get the "its going to" argument but we have carried a national debt for generations. So my question is what actual effects have you felt in your lifetime as a result of the national debt?

Higher taxes. As the debt grows, so do the interest payments, and so does the need for additional tax revenue.

The main problem is the US govt. is only paying the interest and not the interest and the debt.

How exactly does the US Govt. pay the debt back? Who are they paying and when are payments due? Can you give a practical example?

So the debt doesn't matter? This has been asked 5-6 times at least with no answer.

That was my questions to YOU. Thats what started this whole conversation. I asked what actual real impact the debt has had on your life. What real and direct effects does it have on the economy that you or generations before you have actually felt. You have listed a few examples but what you've listed are directly tied to the debt.

All of it is tied to the debt. I've said that all along. Rates are low so we can pretend to be able to afford the debt.

What do you mean "afford" the debt? You know its not a credit card bill right? The national debt is not intended to ever be completely paid off, right? It is a system that is managed... it is very different that your household budgets

So the debt doesn't matter?

Why do you keep repeating the question I've been asking you? Is it because you don't have answers to back up your original answer? I've answered this question as best I can per my understanding of economics which is rudimentary at best.

 

[Indeependent]

What do you all think of Bidens answer to this question?

Debt is not cancelled, the payment is made by taxing the middle class.

Which tax?

The tax, retard, that will be created to pay back the investors who provided the money for the school loans.
Even if the loans came from tax money, the void in the payback will have to come from somewhere as public projects are financed years in advance.

 

[pknopp]

And who does everyone thing will be picking up the tab??

Why we tax payers of course.

If you want to go to college, get a job or a loan and go. Just don't expect the tax payers to pay your college bill for you.

The same people who pick up the tab when a big corporation bails and raids the retirement funds the govt. insures.

Then that makes everything okay? I’m tired of every stupid decision someone makes, we pay for. Trillions in debt, and those that promised to pay need to be held accountable and quit sponging off the working middle class.

I'm not meaning to promote debt but I am curious... How has the trillions in debt that our country has accumulated impacted your life?

It's going to. The rest of the world isn't going to allow us to print, print, print to buy new cars and vacation homes while they struggle with basic needs forever. It may not affect me but it's going to greatly affect future generations and as I note many times, it's not just about me.

I get the "its going to" argument but we have carried a national debt for generations. So my question is what actual effects have you felt in your lifetime as a result of the national debt?

Higher taxes. As the debt grows, so do the interest payments, and so does the need for additional tax revenue.

Can you show the linkage? The debt and deficit went up at record levels under Trump and they cut taxes.

History did not start with TRUMP!. Since Reagan's big tax cut we've had several tax increases. And you do realize that deficit spending ultimately has to be covered by tax increases.

Why does it have to be covered by tax increases? There are plenty of theories that rely on economic growth to cover the deficit. There are others that don't think a growing deficit/debt as a bad thing. As long as money is flowing then thats how a national economy is supposed to function.

So debt doesn't matter?

The debt does matter but not in the same way as an individuals debt matters. A national debt is a very different thing. It is a system that needs to be managed to optimize the value of currency and a reliable credit rating.

Cutting taxes, sending jobs overseas, never ending wars...........when do you see the debt getting managed?

 

[Slade3200]

What do you all think of Bidens answer to this question?

Debt is not cancelled, the payment is made by taxing the middle class.

Which tax?

The tax, retard, that will be created to pay back the investors who provided the money for the school loans.
Even if the loans came from tax money, the void in the payback will have to come from somewhere as public projects are financed years in advance.

Why am I a retard for asking a question that you can't even give a direct answer to... "The tax" is all you got? If you don't know which tax it is and can't give a real example then why is my question asking about it a retarded question?

 

[hadit]

And you do realize that deficit spending ultimately has to be covered by tax increases.

Well let's hop in our time machines and go tell that to Saint Ronnie. The bill of goods that was Reaganomics has failed. The wealth has not "trickled down". In fact, it has done exactly the opposite and "trickled up". The actor turned bad actor Reagan got fooled by a lot of bad actors around him. Who could have seen this coming, besides every single economist in the 80s that wasn't also a conservative partisan?

Go ahead and blame whoever you want but reality is Congress, with the exception of Newt, has consistently failed to hold the line on the budget and went crazy with new spending. The only choice a president has in the situation is to sign the spending bills or veto them and have granny getting pushed off the cliff again. You seem to need a bogyman and naturally will never point at a democrat.

 

[Slade3200]

And who does everyone thing will be picking up the tab??

Why we tax payers of course.

If you want to go to college, get a job or a loan and go. Just don't expect the tax payers to pay your college bill for you.

The same people who pick up the tab when a big corporation bails and raids the retirement funds the govt. insures.

Then that makes everything okay? I’m tired of every stupid decision someone makes, we pay for. Trillions in debt, and those that promised to pay need to be held accountable and quit sponging off the working middle class.

I'm not meaning to promote debt but I am curious... How has the trillions in debt that our country has accumulated impacted your life?

It's going to. The rest of the world isn't going to allow us to print, print, print to buy new cars and vacation homes while they struggle with basic needs forever. It may not affect me but it's going to greatly affect future generations and as I note many times, it's not just about me.

I get the "its going to" argument but we have carried a national debt for generations. So my question is what actual effects have you felt in your lifetime as a result of the national debt?

Higher taxes. As the debt grows, so do the interest payments, and so does the need for additional tax revenue.

Can you show the linkage? The debt and deficit went up at record levels under Trump and they cut taxes.

History did not start with TRUMP!. Since Reagan's big tax cut we've had several tax increases. And you do realize that deficit spending ultimately has to be covered by tax increases.

Why does it have to be covered by tax increases? There are plenty of theories that rely on economic growth to cover the deficit. There are others that don't think a growing deficit/debt as a bad thing. As long as money is flowing then thats how a national economy is supposed to function.

So debt doesn't matter?

The debt does matter but not in the same way as an individuals debt matters. A national debt is a very different thing. It is a system that needs to be managed to optimize the value of currency and a reliable credit rating.

Cutting taxes, sending jobs overseas, never ending wars...........when do you see the debt getting managed?

Again you bring up items that are not directly influenced by the debt. Sending jobs overseas is not caused by the debt. it is caused by businesses finding cheaper sources for goods and operating expenses. Wars are not caused by the debt nor are tax cuts. These things all impact the debt, but I don't think you can show how the debt actually causes or impact them... Correct me if I'm wrong and you can actually explain these things

 

[pknopp]

And who does everyone thing will be picking up the tab??

Why we tax payers of course.

If you want to go to college, get a job or a loan and go. Just don't expect the tax payers to pay your college bill for you.

The same people who pick up the tab when a big corporation bails and raids the retirement funds the govt. insures.

Then that makes everything okay? I’m tired of every stupid decision someone makes, we pay for. Trillions in debt, and those that promised to pay need to be held accountable and quit sponging off the working middle class.

I'm not meaning to promote debt but I am curious... How has the trillions in debt that our country has accumulated impacted your life?

It's going to. The rest of the world isn't going to allow us to print, print, print to buy new cars and vacation homes while they struggle with basic needs forever. It may not affect me but it's going to greatly affect future generations and as I note many times, it's not just about me.

I get the "its going to" argument but we have carried a national debt for generations. So my question is what actual effects have you felt in your lifetime as a result of the national debt?

Higher taxes. As the debt grows, so do the interest payments, and so does the need for additional tax revenue.

Can you show the linkage? The debt and deficit went up at record levels under Trump and they cut taxes.

History did not start with TRUMP!. Since Reagan's big tax cut we've had several tax increases. And you do realize that deficit spending ultimately has to be covered by tax increases.

Why does it have to be covered by tax increases? There are plenty of theories that rely on economic growth to cover the deficit. There are others that don't think a growing deficit/debt as a bad thing. As long as money is flowing then thats how a national economy is supposed to function.

So debt doesn't matter?

The debt does matter but not in the same way as an individuals debt matters. A national debt is a very different thing. It is a system that needs to be managed to optimize the value of currency and a reliable credit rating.

Cutting taxes, sending jobs overseas, never ending wars...........when do you see the debt getting managed?

Again you bring up items that are not directly influenced by the debt. Sending jobs overseas is not caused by the debt.

I didn't say it did. I said it's going to cause it to increase.

it is caused by businesses finding cheaper sources for goods and operating expenses. Wars are not caused by the debt nor are tax cuts. These things all impact the debt, but I don't think you can show how the debt actually causes or impact them... Correct me if I'm wrong and you can actually explain these things

No one has argued that but it's all related. The debt is used to boost the markets. The wars are used to boost the markets. It all creates massive debt because we are not paying for it.

 

[Indeependent]

What do you all think of Bidens answer to this question?

Debt is not cancelled, the payment is made by taxing the middle class.

Which tax?

The tax, retard, that will be created to pay back the investors who provided the money for the school loans.
Even if the loans came from tax money, the void in the payback will have to come from somewhere as public projects are financed years in advance.

Why am I a retard for asking a question that you can't even give a direct answer to... "The tax" is all you got? If you don't know which tax it is and can't give a real example then why is my question asking about it a retarded question?

Public projects are planned years in advance.
The payback of the loans was geared towards a general ledger entry meant as a future expenditure.

 

[Slade3200]

And who does everyone thing will be picking up the tab??

Why we tax payers of course.

If you want to go to college, get a job or a loan and go. Just don't expect the tax payers to pay your college bill for you.

The same people who pick up the tab when a big corporation bails and raids the retirement funds the govt. insures.

Then that makes everything okay? I’m tired of every stupid decision someone makes, we pay for. Trillions in debt, and those that promised to pay need to be held accountable and quit sponging off the working middle class.

I'm not meaning to promote debt but I am curious... How has the trillions in debt that our country has accumulated impacted your life?

It's going to. The rest of the world isn't going to allow us to print, print, print to buy new cars and vacation homes while they struggle with basic needs forever. It may not affect me but it's going to greatly affect future generations and as I note many times, it's not just about me.

I get the "its going to" argument but we have carried a national debt for generations. So my question is what actual effects have you felt in your lifetime as a result of the national debt?

Higher taxes. As the debt grows, so do the interest payments, and so does the need for additional tax revenue.

Can you show the linkage? The debt and deficit went up at record levels under Trump and they cut taxes.

History did not start with TRUMP!. Since Reagan's big tax cut we've had several tax increases. And you do realize that deficit spending ultimately has to be covered by tax increases.

Why does it have to be covered by tax increases? There are plenty of theories that rely on economic growth to cover the deficit. There are others that don't think a growing deficit/debt as a bad thing. As long as money is flowing then thats how a national economy is supposed to function.

So debt doesn't matter?

The debt does matter but not in the same way as an individuals debt matters. A national debt is a very different thing. It is a system that needs to be managed to optimize the value of currency and a reliable credit rating.

Cutting taxes, sending jobs overseas, never ending wars...........when do you see the debt getting managed?

Again you bring up items that are not directly influenced by the debt. Sending jobs overseas is not caused by the debt.

I didn't say it did. I said it's going to cause it to increase.

it is caused by businesses finding cheaper sources for goods and operating expenses. Wars are not caused by the debt nor are tax cuts. These things all impact the debt, but I don't think you can show how the debt actually causes or impact them... Correct me if I'm wrong and you can actually explain these things

No one has argued that but it's all related. The debt is used to boost the markets. The wars are used to boost the markets. It all creates massive debt because we are not paying for it.

This whole conversation has been about what effect, if any, the debt has on our lives, more specifically if we have actually felt any direct effects from it. Whether an event or policy contributes to the size of the debt is irrelevant in relation to what we are discussing. Feels like you are changing the subject.

 

[Slade3200]

What do you all think of Bidens answer to this question?

Debt is not cancelled, the payment is made by taxing the middle class.

Which tax?

The tax, retard, that will be created to pay back the investors who provided the money for the school loans.
Even if the loans came from tax money, the void in the payback will have to come from somewhere as public projects are financed years in advance.

Why am I a retard for asking a question that you can't even give a direct answer to... "The tax" is all you got? If you don't know which tax it is and can't give a real example then why is my question asking about it a retarded question?

Public projects are planned years in advance.
The payback of the loans was geared towards a general ledger entry meant as a future expenditure.

Right and this system has been in place for decades. You said the student loan payments are made by taxing the middle class. I was simply asking what specific tax that was, you still haven't answered that question.

 

[bendog]

Home prices, Home Size and Mortgage Rates

The Truth About Real Estate Prices

Historical housing price data suggests ongoing increases in housing prices, but these numbers don't tell the whole truth.

www.investopedia.com

.

There is no correlation to interest rates and home price long term. When we had the highest rates, houses were much less expensive, and smaller

What is generally true is that times of low interest AND high employment simultaneously, housing prices increase.

What Causes Housing Prices to Rise in the United States?

In the United States, housing prices rise when the economy is strong and interest rates...

homeguides.sfgate.com

But the housing cost is driven by CONSUMER DEMAND. It would not make sense to just jack up rates to kill consumer demand UNLESS we had inflation, and we don't have damagingly high inflation now. In fact, generally economists favor moderate inflation to boost wages ... however inflation caused by food or energy shortages is not good more so because of people lacking access to particular products.

However today rates are not driven by budget deficits Today. That may change someday

 

[Fort Fun Indiana]

Go ahead and blame whoever you want but reality is Congress, with the exception of Newt, has consistently failed to hold the line on the budget and went crazy with new spending.

Nah, that's the LAST place i will look. Our spending as %of GDP is right in the middle, for developed nations. Our tax revenue as %of GDP is stupidly low. I.E., the Republican way. It doesn't take a genius....

 

[Indeependent]

What do you all think of Bidens answer to this question?

Debt is not cancelled, the payment is made by taxing the middle class.

Which tax?

The tax, retard, that will be created to pay back the investors who provided the money for the school loans.
Even if the loans came from tax money, the void in the payback will have to come from somewhere as public projects are financed years in advance.

Why am I a retard for asking a question that you can't even give a direct answer to... "The tax" is all you got? If you don't know which tax it is and can't give a real example then why is my question asking about it a retarded question?

Public projects are planned years in advance.
The payback of the loans was geared towards a general ledger entry meant as a future expenditure.

Right and this system has been in place for decades. You said the student loan payments are made by taxing the middle class. I was simply asking what specific tax that was, you still haven't answered that question.

Just like I knew about Cuomo's murder spree prior to any news coverage I also know many tax accountants and business owners.
Neither one of us knows the method by the city, state or fed will tax us to pay for those students education.
I realize that just as I did not know what was going on with the nursing home murders, I will expect you to reply that I don't know any accountants or business owners until the press finally admits that Biden has all 3 levels of government take an additional bite out of my paychecks.

 

[Slade3200]

What do you all think of Bidens answer to this question?

Debt is not cancelled, the payment is made by taxing the middle class.

Which tax?

The tax, retard, that will be created to pay back the investors who provided the money for the school loans.
Even if the loans came from tax money, the void in the payback will have to come from somewhere as public projects are financed years in advance.

Why am I a retard for asking a question that you can't even give a direct answer to... "The tax" is all you got? If you don't know which tax it is and can't give a real example then why is my question asking about it a retarded question?

Public projects are planned years in advance.
The payback of the loans was geared towards a general ledger entry meant as a future expenditure.

Right and this system has been in place for decades. You said the student loan payments are made by taxing the middle class. I was simply asking what specific tax that was, you still haven't answered that question.

Just like I knew about Cuomo's murder spree prior to any news coverage I also know many tax accountants and business owners.
Neither one of us knows the method by the city, state or fed will tax us to pay for those students education.
I realize that just as I did not know what was going on with the nursing home murders, I will expect you to reply that I don't know any accountants or business owners until the press finally admits that Biden has all 3 levels of government take an additional bite out of my paychecks.

So I ask what tax is being imposed on the middle class to pay for loans... you call my question retarded and then admit that nobody knows what tax is being used. Great debating with you!

 

[DBA]

Go ahead and blame whoever you want but reality is Congress, with the exception of Newt, has consistently failed to hold the line on the budget and went crazy with new spending.

Nah, that's the LAST place i will look. Our spending as %of GDP is right in the middle, for developed nations. Our tax revenue as %of GDP is stupidly low. I.E., the Republican way. It doesn't take a genius....

Our spending is too high. I don’t care much about how much quasi-Socialist governments spend. The people don’t have the same opportunities afforded to us in the US. You also don’t mention waste. In case you haven’t noticed, our government is woefully inefficient. We could cut 1/3 of our spending and couple it with more efficiency and still be in the black as compared to where we are now. Raising taxes is NOT the answer.

 

[Slade3200]

Go ahead and blame whoever you want but reality is Congress, with the exception of Newt, has consistently failed to hold the line on the budget and went crazy with new spending.

Nah, that's the LAST place i will look. Our spending as %of GDP is right in the middle, for developed nations. Our tax revenue as %of GDP is stupidly low. I.E., the Republican way. It doesn't take a genius....

Our spending is too high. I don’t care much about how much quasi-Socialist governments spend. The people don’t have the same opportunities afforded to us in the US. You also don’t mention waste. In case you haven’t noticed, our government is woefully inefficient. We could cut 1/3 of our spending and couple it with more efficiency and still be in the black as compared to where we are now. Raising taxes is NOT the answer.

waste is an interesting notion when talking about government spending. Can you give a specific example? More specifically what spending would you consider wasteful and who was receiving the payments.

 

[DBA]

Go ahead and blame whoever you want but reality is Congress, with the exception of Newt, has consistently failed to hold the line on the budget and went crazy with new spending.

Nah, that's the LAST place i will look. Our spending as %of GDP is right in the middle, for developed nations. Our tax revenue as %of GDP is stupidly low. I.E., the Republican way. It doesn't take a genius....

Our spending is too high. I don’t care much about how much quasi-Socialist governments spend. The people don’t have the same opportunities afforded to us in the US. You also don’t mention waste. In case you haven’t noticed, our government is woefully inefficient. We could cut 1/3 of our spending and couple it with more efficiency and still be in the black as compared to where we are now. Raising taxes is NOT the answer.

waste is an interesting notion when talking about government spending. Can you give a specific example? More specifically what spending would you consider wasteful and who was receiving the payments.

Entire books could be written on the subject, but below is just a small list totaling 230 million in 2019.

As far as receiving payments for pet projects and the like, congressman don’t become multi-millionaires from their reported incomes. You do the math.

Here Are The Most Wasteful Government Projects In 2019

 

[hadit]

Go ahead and blame whoever you want but reality is Congress, with the exception of Newt, has consistently failed to hold the line on the budget and went crazy with new spending.

Nah, that's the LAST place i will look. Our spending as %of GDP is right in the middle, for developed nations. Our tax revenue as %of GDP is stupidly low. I.E., the Republican way. It doesn't take a genius....

It also doesn't take a genius to realize why you don't want to look at Congress.