Why forgive "student loans" and not all other loans? Why is Biden (democrats) so adamant about it?

Which facts? Can you list the knowledge Harvard or Yale has that FSU or UT doesnt? What “thing“ other than reputation makes them better? Would President Obama have not been a good President had he attended UF or OSU vs Columbia? Was Reagan a bad President because he attended Eureka?



I dont have to go to Harvard or major in English Lit to be able to read. If all the English Lit majors and plumbers died 30 seconds ago which group do you think society would miss more and sooner?
Which facts?
The roster of presidents and supreme court justices.

This isn't rocket science.

I dont have to go to Harvard or major in English Lit to be able to read

No, you don't..

Cormac McCarthy was a U of Tenn. drop out.

That said, the vast majority of Americans don't read, and for the most part, can't.

I can. Because I've worked at it. Been reading literature much of my life...the stuff you've heard of, but wouldn't even try.

AND I'm good at math.
 
The roster of presidents and supreme court justices.

This isn't rocket science.

That's not proof that Harvard is better than FSU nor is it a reason to fund every kid who wants to go there.

The last President Harvard produced was JFK.

Yale: the Bushes and Taft

Princeton: Woodrow Wilson.

Are you sure you still want to make argument you're making?

No, you don't..

Cormac McCarthy was a U of Tenn. drop out.

That said, the vast majority of Americans don't read, and for the most part, can't.

I can. Because I've worked at it. Been reading literature much of my life...the stuff you've heard of, but wouldn't even try.

AND I'm good at math.

What do you think the literacy rate in the US is? The vast majority of people in the US can read.

Am I supposed to be impressed that you allegedly read a lot and are "good at math"?

BTW you want to answer that question about the plumbers and English Lit majors?
 
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We paid 1.6 trillion last year in interest on the debt. If we weren't in debt that's 1.6 Trillion we don't have to pay. 1.6 trillion divided by the US population is 4500 ish. I'm married with 2 dependents, that's 18k in taxes I wouldn't have had to pay were we not in the debt we currently are.

So yes the US Government incurring debt does affect my taxes.

The interest on 40 billion at 5% is 2 billion. Divided by the us population is about 6 bucks a year in taxes per person to cover it.
This is a perfect example of why you ought to shut the fuck up.

Interest on the national debt in 2022 was NOT 1.6 Trillion. It was just south of 400 Billion.

And no your taxes would not increase even that 6 dollars a year if loan forgiveness were passed.

The ONE legitimate criticism of doing that is that it is slightly inflationary.

You're too stupid to make that argument however
 
This is a perfect example of why you ought to shut the fuck up.

Interest on the national debt in 2022 was NOT 1.6 Trillion. It was just south of 400 Billion.
You are correct I was wrong on the figures but it doesnt change the point. We spent 474 billion on interest in 2022 what I read was a prediction over the next 10 years. But even using your figures (which are also incorrect):


350 billion in interest payments we wouldnt have to pay were we not in this much debt.

Divided by the population on the US is 1000ish per person. That's 4k in taxes each year I'd not have to pay.

And no your taxes would not increase even that 6 dollars a year if loan forgiveness were passed.

The ONE legitimate criticism of doing that is that it is slightly inflationary.

You're too stupid to make that argument however

Of course they would increasing the debt increases the interest on that debt that we HAVE to pay each year. If the debt didn't exist and everything else was the same our tax burden would be significantly less, and we would be paying less in taxes. I keep asking this question and you keep avoiding it but I'll ask once more. If and increase in debt doesn't increase our tax liability why is the Government collecting any taxes at all? If we can just debt spend with no consequences why are we not doing that? What's the point of using taxes to pay for anything if we can just borrow the money with no repercussions.
 
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You are correct I was wrong on the figures but it doesnt change the point. We spent 474 billion on interest in 2022 what I read was a prediction over the next 10 years. But even using your figures (which are also incorrect):
At least you can admit you were wrong (because it was so stupidly egregious)

Getting something that simple and basic to the discussion so wrong means you ought to gracefully bow out.
 
At least you can admit you were wrong (because it was so stupidly egregious)

Getting something that simple and basic to the discussion so wrong means you ought to gracefully bow out.
LOL. You thought private banks were still making student loans.
 
And they are. Not all loans but private banks are making student loans
The DoEd makes all student loans. Certainly, all the ones we are discussing getting forgiven. There might be individuals who are taking out additional loans or separate loans for one reason or another but the student loan program is completely funded by the DoEd. That's been the case since 2010.


"After announcing that he would seek to end the FFEL program in his presidential campaign, President Barack Obama succeeded last month when Congress passed the Health Care and Education Reconciliation Act of 2010 (HCERA). The bill requires that all student loans originated after July 1, 2010 be done via the direct lending program, generating savings of $62 billion over the next 10 years, according to the Congressional Budget Office. The Act also increased Pell Grants by $36 billion and expanded aid to colleges serving minorities."
 
The DoEd makes all student loans. Certainly, all the ones we are discussing getting forgiven. There might be individuals who are taking out additional loans or separate loans for one reason or another but the student loan program is completely funded by the DoEd. That's been the case since 2010.


"After announcing that he would seek to end the FFEL program in his presidential campaign, President Barack Obama succeeded last month when Congress passed the Health Care and Education Reconciliation Act of 2010 (HCERA). The bill requires that all student loans originated after July 1, 2010 be done via the direct lending program, generating savings of $62 billion over the next 10 years, according to the Congressional Budget Office. The Act also increased Pell Grants by $36 billion and expanded aid to colleges serving minorities."
Again you are wrong


And loans issued prior to 2010 were through banks even though they were Federally guaranteed and millions are still paying on those loans. I know this because my son and daughter in law are among them
 
Again you are wrong


And loans issued prior to 2010 were through banks even though they were Federally guaranteed and millions are still paying on those loans. I know this because my son and daughter in law are among them

The first line of your link.

"The vast majority of borrowers — more than 90 percent — take out federal student loans to pay for school. If you’re unsure whether your student loans are federal or private, there are a few ways to check."

If your son and daughter in law are still paying on student loans they took out prior to 2010 then Im not taking any monetary advice from someone who taught them how to handle money.
 
That's not proof that Harvard is better than FSU nor is it a reason to fund every kid who wants to go there.

The last President Harvard produced was JFK.

Yale: the Bushes and Taft

Princeton: Woodrow Wilson.

Are you sure you still want to make argument you're making?



What do you think the literacy rate in the US is? The vast majority of people in the US can read.

Am I supposed to be impressed that you allegedly read a lot and are "good at math"?

BTW you want to answer that question about the plumbers and English Lit majors?
Just post the list of FSU grads who have served in either capacity.

It's not how you feel about it....it's a numbers' thing.

That is not to knock FSU...The son in law of a friend declined an offer to play football at Harvard, cause it didn't come with money. Went to FSU undergrad and med school...is one of the hottest vascular surgery prospects in the country.

I sent my kid to UT Austin...I would have barred the door to keep her from going Ivy...because she was Chem E...

But if her ambition was to be SCOTUS she would have had to.

What do you think the literacy rate in the US is? The vast majority of people in the US can read

Doesn't matter.....Americans, in the main, don't and can't read.

It isn't about making the sounds corresponding with the letters....it's about understanding the meaning of a sentence.


Am I supposed to be impressed that you allegedly read a lot and are "good at math"?

I was being humble...
 
If your son and daughter in law are still paying on student loans they took out prior to 2010 then Im not taking any monetary advice from someone who taught them how to handle money.
Dude...anyone listening to a deficit hawk who was more than a trillion dollars off on the deficit ought to have his head examined.

but keep trying
 
Dude...anyone listening to a deficit hawk who was more than a trillion dollars off on the deficit ought to have his head examined.

but keep trying
And I admitted the clerical error. Unlike you I can admit when I make a mistake
 
And I admitted the clerical error. Unlike you I can admit when I make a mistake
BWAHAHAHA...a "clerical error" of well over a TRILLION dollars when talking about the deficit (which is a third of that)

What a dope
 
This is a perfect example of why you ought to shut the fuck up.

Interest on the national debt in 2022 was NOT 1.6 Trillion. It was just south of 400 Billion.

And no your taxes would not increase even that 6 dollars a year if loan forgiveness were passed.

The ONE legitimate criticism of doing that is that it is slightly inflationary.

You're too stupid to make that argument however

God save the Queen, man!
 
Nor most people

My dad paid mine.

I only have one.

She was offered 80% of everything for 4 years, but the place didn't have a strong chem e dept, and no meaningful marching band..


Texas has both...and much of my cushy retirement.
 
BWAHAHAHA...a "clerical error" of well over a TRILLION dollars when talking about the deficit (which is a third of that)

What a dope
It was a mistake which I admitted unlike you who were just uninformed on the subject. I've noticed you are disputing the actual premise of the post. I misread an article.
 

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