Cancel Student Debt

[Dekster]

It can just disappear. Tax payers already picked up the tab. There is no additional expenditures needed.

So the universities and debt holders just eat it? What about all those who already repaid their debt?

The government would. The government loaned that money in the past or else it wouldn't be "debt" and the money has already been raised and spent. Cancelling the debt is the easy part. It is providing free college going forward that would be more problematic.

How is it easy? The Govt just eats it? That’s insane.

The government already ate it when they loaned the people the money. I am not sure why this is such a difficult concept for you to grasp. The government only had to come up with the money when they sent the checks out to begin with. They don't have to come up with a single dime to write-off the debt any more than a credit card company would if you stopped paying them because the money was already spent in the past.

So when the debt is repaid who gets it? The tooth fairy? If I borrowed money from a Bank, who pays the Bank back?

The government cannot cancel your bank loan. It can only cancel the debt you owe them.

 

[AzogtheDefiler]

So the universities and debt holders just eat it? What about all those who already repaid their debt?

The government would. The government loaned that money in the past or else it wouldn't be "debt" and the money has already been raised and spent. Cancelling the debt is the easy part. It is providing free college going forward that would be more problematic.

How is it easy? The Govt just eats it? That’s insane.

The government already ate it when they loaned the people the money. I am not sure why this is such a difficult concept for you to grasp. The government only had to come up with the money when they sent the checks out to begin with. They don't have to come up with a single dime to write-off the debt any more than a credit card company would if you stopped paying them because the money was already spent in the past.

So when the debt is repaid who gets it? The tooth fairy? If I borrowed money from a Bank, who pays the Bank back?

The government cannot cancel your bank loan. It can only cancel the debt you owe them.

Not what Sanders said.

 

[okfine]

God forbid we put young people ahead for the good of the nation. It wouldn't be fair! I didn't get that so FUCK THEM! Right? You're a real patriot.

Q. Who is responsible for a person's education? Who benefits from an education?

A. The student.

True. Their debt their responsibility. That's one dotted line I didn't sign. Take it up with the lender. If education becomes free, so be it. Until then not my problem.

 

[Meister]

Because “cancelling” means the taxpayers pick up the tab. Debt doesn’t just disappear

It can just disappear. Tax payers already picked up the tab. There is no additional expenditures needed.

So the universities and debt holders just eat it? What about all those who already repaid their debt?

The government would. The government loaned that money in the past or else it wouldn't be "debt" and the money has already been raised and spent. Cancelling the debt is the easy part. It is providing free college going forward that would be more problematic.

Dude.....there is a contract....it's called an obligation. The trillion does not just appear....or just disappear.
It's debt taken on by the signer of the contract....not by America. WAKE UP TO REALITY!!!!!

Contract or not does not change that the government could just cancel the debt and it would not cost them anything. It is no different than absorbing the toxic mortgages.

Please....pause a moment and think about what YOU just posted. The tax payers would have to absorb the loss through debt, that is a loss of their taxes.
IT AIN"T FREE NO MATTER HOW YOU SPIN IT!!!!!!!

 

[Dekster]

The government would. The government loaned that money in the past or else it wouldn't be "debt" and the money has already been raised and spent. Cancelling the debt is the easy part. It is providing free college going forward that would be more problematic.

How is it easy? The Govt just eats it? That’s insane.

The government already ate it when they loaned the people the money. I am not sure why this is such a difficult concept for you to grasp. The government only had to come up with the money when they sent the checks out to begin with. They don't have to come up with a single dime to write-off the debt any more than a credit card company would if you stopped paying them because the money was already spent in the past.

So when the debt is repaid who gets it? The tooth fairy? If I borrowed money from a Bank, who pays the Bank back?

The government cannot cancel your bank loan. It can only cancel the debt you owe them.

Not what Sanders said.

I am not Mr. Sanders.

 

[AzogtheDefiler]

How is it easy? The Govt just eats it? That’s insane.

The government already ate it when they loaned the people the money. I am not sure why this is such a difficult concept for you to grasp. The government only had to come up with the money when they sent the checks out to begin with. They don't have to come up with a single dime to write-off the debt any more than a credit card company would if you stopped paying them because the money was already spent in the past.

So when the debt is repaid who gets it? The tooth fairy? If I borrowed money from a Bank, who pays the Bank back?

The government cannot cancel your bank loan. It can only cancel the debt you owe them.

Not what Sanders said.

I am not Mr. Sanders.

But this is what the OP is? Either way you’re way off base. Do you understand basic accounting?

 

[Dekster]

It can just disappear. Tax payers already picked up the tab. There is no additional expenditures needed.

So the universities and debt holders just eat it? What about all those who already repaid their debt?

The government would. The government loaned that money in the past or else it wouldn't be "debt" and the money has already been raised and spent. Cancelling the debt is the easy part. It is providing free college going forward that would be more problematic.

Dude.....there is a contract....it's called an obligation. The trillion does not just appear....or just disappear.
It's debt taken on by the signer of the contract....not by America. WAKE UP TO REALITY!!!!!

Contract or not does not change that the government could just cancel the debt and it would not cost them anything. It is no different than absorbing the toxic mortgages.

Please....pause a moment and think about what YOU just posted. The tax payers would have to absorb the loss through debt, that is a loss of their taxes.
IT AIN"T FREE NO MATTER HOW YOU SPIN IT!!!!!!!

No the would not. The vast majority of student loan debt is through federal direct loans. The government came up with the money when they lent it. They don't have to come up with money to write it off. In additions, your taxes are based on your income and have no relationship to the government's debt. You pay what you pay whether the government owes $22T or $32T so it costs you exactly nothing.

 

[Meister]

So the universities and debt holders just eat it? What about all those who already repaid their debt?

The government would. The government loaned that money in the past or else it wouldn't be "debt" and the money has already been raised and spent. Cancelling the debt is the easy part. It is providing free college going forward that would be more problematic.

Dude.....there is a contract....it's called an obligation. The trillion does not just appear....or just disappear.
It's debt taken on by the signer of the contract....not by America. WAKE UP TO REALITY!!!!!

Contract or not does not change that the government could just cancel the debt and it would not cost them anything. It is no different than absorbing the toxic mortgages.

Please....pause a moment and think about what YOU just posted. The tax payers would have to absorb the loss through debt, that is a loss of their taxes.
IT AIN"T FREE NO MATTER HOW YOU SPIN IT!!!!!!!

No the would not. The vast majority of student loan debt is through federal direct loans. The government came up with the money when they lent it. They don't have to come up with money to write it off. In additions, your taxes are based on your income and have no relationship to the government's debt. You pay what you pay whether the government owes $22T or $32T so it costs you exactly nothing.

Are you stupid, or what? Just how did the government come up with that money? How do they come up with any money?
Do they deliver papers in the mornings? Do they cash in on pop bottles and cans?
I asked you to think about what you posted earlier, I really meant it.

 

[Dekster]

The government already ate it when they loaned the people the money. I am not sure why this is such a difficult concept for you to grasp. The government only had to come up with the money when they sent the checks out to begin with. They don't have to come up with a single dime to write-off the debt any more than a credit card company would if you stopped paying them because the money was already spent in the past.

So when the debt is repaid who gets it? The tooth fairy? If I borrowed money from a Bank, who pays the Bank back?

The government cannot cancel your bank loan. It can only cancel the debt you owe them.

Not what Sanders said.

I am not Mr. Sanders.

But this is what the OP is? Either way you’re way off base. Do you understand basic accounting?

The OP is about butthurt because some people might get something for free that someone else had to pay for in the past. and if you want to make this about "basic accounting" then it is no different than a doctor writing off a medical bill. He already did the surgery. He doesn't have to do additional surgeries just because he wrote off your bill.

 

[Dekster]

The government would. The government loaned that money in the past or else it wouldn't be "debt" and the money has already been raised and spent. Cancelling the debt is the easy part. It is providing free college going forward that would be more problematic.

Dude.....there is a contract....it's called an obligation. The trillion does not just appear....or just disappear.
It's debt taken on by the signer of the contract....not by America. WAKE UP TO REALITY!!!!!

Contract or not does not change that the government could just cancel the debt and it would not cost them anything. It is no different than absorbing the toxic mortgages.

Please....pause a moment and think about what YOU just posted. The tax payers would have to absorb the loss through debt, that is a loss of their taxes.
IT AIN"T FREE NO MATTER HOW YOU SPIN IT!!!!!!!

No the would not. The vast majority of student loan debt is through federal direct loans. The government came up with the money when they lent it. They don't have to come up with money to write it off. In additions, your taxes are based on your income and have no relationship to the government's debt. You pay what you pay whether the government owes $22T or $32T so it costs you exactly nothing.

Are you stupid, or what? Just how did the government come up with that money? How do they come up with any money?
Do they deliver papers in the mornings? Do they cash in on pop bottles and cans?
I asked you to think about what you posted earlier, I really meant it.

How did the government come up with the $22T we currently owe? They didn't. They create it out of thin air. That is how fiat currency works.

 

[AzogtheDefiler]

So the universities and debt holders just eat it? What about all those who already repaid their debt?

The government would. The government loaned that money in the past or else it wouldn't be "debt" and the money has already been raised and spent. Cancelling the debt is the easy part. It is providing free college going forward that would be more problematic.

Dude.....there is a contract....it's called an obligation. The trillion does not just appear....or just disappear.
It's debt taken on by the signer of the contract....not by America. WAKE UP TO REALITY!!!!!

Contract or not does not change that the government could just cancel the debt and it would not cost them anything. It is no different than absorbing the toxic mortgages.

Please....pause a moment and think about what YOU just posted. The tax payers would have to absorb the loss through debt, that is a loss of their taxes.
IT AIN"T FREE NO MATTER HOW YOU SPIN IT!!!!!!!

No the would not. The vast majority of student loan debt is through federal direct loans. The government came up with the money when they lent it. They don't have to come up with money to write it off. In additions, your taxes are based on your income and have no relationship to the government's debt. You pay what you pay whether the government owes $22T or $32T so it costs you exactly nothing.

So if I pay $1 where does it go?

 

[Hossfly]

So the universities and debt holders just eat it? What about all those who already repaid their debt?

The government would. The government loaned that money in the past or else it wouldn't be "debt" and the money has already been raised and spent. Cancelling the debt is the easy part. It is providing free college going forward that would be more problematic.

Dude.....there is a contract....it's called an obligation. The trillion does not just appear....or just disappear.
It's debt taken on by the signer of the contract....not by America. WAKE UP TO REALITY!!!!!

Contract or not does not change that the government could just cancel the debt and it would not cost them anything. It is no different than absorbing the toxic mortgages.

Please....pause a moment and think about what YOU just posted. The tax payers would have to absorb the loss through debt, that is a loss of their taxes.
IT AIN"T FREE NO MATTER HOW YOU SPIN IT!!!!!!!

No the would not. The vast majority of student loan debt is through federal direct loans. The government came up with the money when they lent it. They don't have to come up with money to write it off. In additions, your taxes are based on your income and have no relationship to the government's debt. You pay what you pay whether the government owes $22T or $32T so it costs you exactly nothing.

Christ on a bloody crutch! Do you have any idea where the government gets their money?

 

[AzogtheDefiler]

So when the debt is repaid who gets it? The tooth fairy? If I borrowed money from a Bank, who pays the Bank back?

The government cannot cancel your bank loan. It can only cancel the debt you owe them.

Not what Sanders said.

I am not Mr. Sanders.

But this is what the OP is? Either way you’re way off base. Do you understand basic accounting?

The OP is about butthurt because some people might get something for free that someone else had to pay for in the past. and if you want to make this about "basic accounting" then it is no different than a doctor writing off a medical bill. He already did the surgery. He doesn't have to do additional surgeries just because he wrote off your bill.

Except he lost monies because he could have performed a different surgery to a paying patient so he did lose money. Plus he paid his nurse, assistant, etc. So in fact that doctor did lose money and if enough patients default that doctor goes out of business.

 

[easyt65]

Sanders just said it again. Does he realize how stupid and unfair it is for those who paid their debt fairly and those who never took on debt or decided to bypass college for another career. That dude is a complete moron.

Advocating screwing colleges out oF money owed, letting Warren off the hook for paying back the cost of the scholarship she stole, hiking up taxes to give *free education away...starting with illegals, of course...

 

[easyt65]

Christ on a bloody crutch! Do you have any idea where the government gets their money?

...they pull it out of their ass...or just PRINT MORE...?!

 

[Billy_Kinetta]

God forbid we put young people ahead for the good of the nation. It wouldn't be fair! I didn't get that so FUCK THEM! Right? You're a real patriot.

So what you're saying is gawd forbid we hold people to their contracts, which is the basis of all business.

 

[Confounding]

God forbid we put young people ahead for the good of the nation. It wouldn't be fair! I didn't get that so FUCK THEM! Right? You're a real patriot.

Q. Who is responsible for a person's education? Who benefits from an education?

A. The student.

Empowering young people is good for the nation and even humanity. It's what will keep us ahead of other nations. It's fine that y'all are selfish, but I would like to reiterate that none of you that wouldn't proudly give some of what you have earned in your life to help young people get ahead should call yourselves nationalists.

 

[AzogtheDefiler]

God forbid we put young people ahead for the good of the nation. It wouldn't be fair! I didn't get that so FUCK THEM! Right? You're a real patriot.

Q. Who is responsible for a person's education? Who benefits from an education?

A. The student.

Empowering young people is good for the nation and even humanity. It's what will keep us ahead of other nations. It's fine that y'all are selfish, but I would like to reiterate that none of you that wouldn't proudly give some of what you have earned in your life to help young people get ahead should call yourselves nationalists.

Empowering means paying back what you borrowed

 

[Confounding]

So what you're saying is gawd forbid we hold people to their contracts, which is the basis of all business.

Maybe the grownups in the room should have prevented predators from brainwashing children and rushing them into severe debt before they even got started. It doesn't matter now though. The student loan situation and the cost of college in general is holding back young people a lot. Something needs to be done.

 

[Meister]

God forbid we put young people ahead for the good of the nation. It wouldn't be fair! I didn't get that so FUCK THEM! Right? You're a real patriot.

Q. Who is responsible for a person's education? Who benefits from an education?

A. The student.

Empowering young people is good for the nation and even humanity. It's what will keep us ahead of other nations. It's fine that y'all are selfish, but I would like to reiterate that none of you that wouldn't proudly give some of what you have earned in your life to help young people get ahead should call yourselves nationalists.

You don't have a clue, do you? Selfish? You know nothing about me and the charities I give to. My money, and I will give to whom I please. Not the government with their hands in my pockets.
But, I will wait for you to give the first $50,000.00 to that child to empower him.
You are a goofball.