duke
Statesman
Posts: 681
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Post by duke on Aug 24, 2022 9:58:16 GMT -8
So we just passed the so called Inflation Reduction act, which would supposedly reduce inflation by 100 billion dollars, but immediately add 300 billion dollars of new debt with this act to buy votes. This is another slap in the face to the middle class as most of the student debt ( I believe 60% ) belongs to students who are using it for advanced degrees. How does he justify that taxpayers get stuck with the bill on this one. 1. How about parents who saved money and went without items to pay for their own children's education? 2. How is this fair for young adults who didn't go to college? 3. How is this fair for those who used the program, but have since paid off their loans? 4. How are we going to treat student loans moving forward? I'm sure all of you have your ideas both pro and con on this latest Biden announcement. Please comment. www.foxnews.com/politics/biden-announces-student-loan-handout-national-debt-soars
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billb
Senior Eminence Grise
Posts: 3,082
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Post by billb on Aug 24, 2022 10:03:57 GMT -8
How is it fair to people who struggled and finally paid off their loan?
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MDDad
Master Eminence Grise
Posts: 6,814
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Post by MDDad on Aug 24, 2022 10:05:44 GMT -8
The president does not have the constitutional authority to forgive student loan debt. I assume the Democrats know this, and they know the courts will strike down this measure. So this is likely an empty gesture they are using to further demonize the right and gain another cheap political win.
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duke
Statesman
Posts: 681
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Post by duke on Aug 24, 2022 10:16:19 GMT -8
Does Biden know that?
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MDDad
Master Eminence Grise
Posts: 6,814
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Post by MDDad on Aug 24, 2022 10:22:08 GMT -8
It doesn't matter if Biden knows that or not. He simply reads whatever is put in front of him.
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SK80
Master Eminence Grise
Posts: 7,376
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Post by SK80 on Aug 24, 2022 13:19:11 GMT -8
It is a vote buying act, they know it must go through Congress, it will likely lose as its not popular and Biden will be abe to say al along he tried to give you kids freebies and big bad Republicans said no. Just like the Trump raid, this is all optics and they know many voters are easily swayed but such.
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duke
Statesman
Posts: 681
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Post by duke on Aug 24, 2022 15:01:21 GMT -8
Pundits say that Biden has declared this emergency, so he has the power to do it.
Reparations next?
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bob
Contributor
Posts: 42
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Post by bob on Sept 2, 2022 4:06:12 GMT -8
$10,000.00 doesn't pay even half of what is typically borrowed. Its seems more of a ploy for them to consolidate their loan out of the 1% interest rate to a 22% consolidation loan.
So its like the Obama Care scam to make you think they are doing something positive for you, but actually its just helps them profit off the side with an industry due to them making insider trading legal for them years ago.
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