Did you guys catch the part where if you sold your soul by fucking your fellow American to work in “public service” for 10 years that your complete loan will be forgiven? Add this to lifelong pensions and no wonder the government employs 24,000,000 people that are working to destroy everything that those of us with morals and a conscience hold dear. Money is the route of all evil never rang so true.
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$300 Billion in student loan "forgiven".... how generous
- Thread starter pineoak
- Start date
I never said anything about a Keynesian multiplier and I am not making argument. That government spending increases output is true by the definition of how output is measured. It isn't an argument, it's literally a mathematical identity referred to in economics as the national accounting identity. 100 out of 100 economists agree about this. It isn't a matter that anyone with any understanding of economics believes is in dispute, because like I said, that Y=C+I+G+NX is an identity. It's as true as 1=1.
Inflation is monetary. It has NOTHING to do with fiscal policy, now or ever. Inflation is always and everywhere a monetary phenomenon. Those who say otherwise are idiots who don't know what they're talking about.
The public service loan forgiveness does not require you to work for the government. All nonprofits other than labor unions are included. It applies to the Red Cross, Salvation Army, or any other, entirely private, nonprofit organization other than labor unions.
Again, another example where people have outrage over something due to a position that is contrary to law.
There are other qualifying requirements for PLSF, but working full time for "the government" in any capacity or a nonprofit are just one of them, not themselves automatically sufficient.
If PLSF was repealed tomorrow, there would instantly be a massive shortage of all sorts of employees in our economy where the government pays far less than the private sector. Fair or not, PLSF is keeping many government institutions together, even uncontroversial ones like your county clerk's office or your courts. Without it, nobody could afford to work there for the slave wages they pay. The alternative is that governments would have to pay market wages, which they don't have the budget to do.
Also, I don't know where you live, but the number of states that have some sort of awesome pension for government employees has to be quite limited. I quit the feds a long time ago because their retirement benefits were garbage.
How about pay your own bills and STFU. I have no patience for a communist with their hand in my pocket.
The good news:
Now you can throw any job applicant's education background out the window so you can hire on skill set alone. No skills...no hire.
Now you can throw any job applicant's education background out the window so you can hire on skill set alone. No skills...no hire.
So, where is this money coming from?
Do you disagree that the government printing money causes inflation?
No you don’t. You just told us we are paying your bills.
No I don't, that is exactly what I've been saying the whole time. But government spending money does not print money. Monetary policy causes inflation, not fiscal policy.
FWIW, you can be opposed to the government spending money and still believe this. I am opposed to all kinds of government spending. I'm even opposed to future government spending that hasn't been authorized. But not because I believe things that aren't true.
Poll: Biden approval surges, rebounds to highest level since May
A new Yahoo News/YouGov poll shows that President Biden’s job-approval rating has shot up 5 percentage points since early August — its largest and most sudden change to date.
Best President ever!
Doesn't matter where it comes from. Even borrowing money to spend it increases output. That is why GDP skyrocketed during WW II--the government spent all kinds of money that it didn't have and had to collect from taxes later.
Y = C+I+G+NX
That government spending increases output is true by definition.
The media just like the GOP are priming the right to accept election fraud come November. Both parties are happiest when the dems are in power controlling government employees who are in turn fucking the country. The Dems like the power and the GOP likes the money. Both hate and despise men like us.
Poll: Biden approval surges, rebounds to highest level since May
A new Yahoo News/YouGov poll shows that President Biden’s job-approval rating has shot up 5 percentage points since early August — its largest and most sudden change to date.www.yahoo.com
Best President ever!
Hardly egregious when you compare it to the trillion + bailout they gave corporations in 2020.
I'm not sure how I feel about student debt cancellation. Student loans are extremely predatory, with insanely high rates. They are the only debt you can't clear through bankruptcy. Post secondary institution rates have skyrocketed since student loans have become easier to get (partially due to the government backing loans, allowing lenders to give out more money).
The whole post secondary institution and the student loan industry is a big scam. And I do think a lot of people suffer financially from it. However, wiping student debt isn't going to solve the problem, we'll be back to the same debt levels in 4 years.
The whole industry needs a revamp.
I'm not sure how I feel about student debt cancellation. Student loans are extremely predatory, with insanely high rates. They are the only debt you can't clear through bankruptcy. Post secondary institution rates have skyrocketed since student loans have become easier to get (partially due to the government backing loans, allowing lenders to give out more money).
The whole post secondary institution and the student loan industry is a big scam. And I do think a lot of people suffer financially from it. However, wiping student debt isn't going to solve the problem, we'll be back to the same debt levels in 4 years.
The whole industry needs a revamp.
Not the only debt. Try to bankrupt out of child support or criminal restitution and let me know how that goes. But your point still stands.
And yes, we need a structural solution to a structural problem. But that isn't going to happen if people believe things are not true, like that if we solved the problem we would create a lot of inflation to do so, because that is absolutely not true.
Nice dodge.
You agree that printing money causes inflation then you say that where the money for this doesn't matter.
Good grief man. You can't be serious.
That ought to be funny.
You agree that printing money causes inflation then you say that where the money for this doesn't matter.
Good grief man. You can't be serious.
By the way. This money is going to/ has already gone to the universities and not the public. Just like you. The people that will get their debts written off haven't been paying them for the last several years. So explain how this is going to boost the GDP.
That ought to be funny.
I would much prefer if we spent our tax dollars on improving our country, over sending it to Ukraine where they essentially launder taxpayer money through the MIC.
I'd rather they not spend it at all. I'd rather it stay in my pocket.
Then we wouldn't be paying as much as those other countries
Exactly.
At least socialist countries get free medical care and college.
We get taxed out the ass…to provide other countries a higher standard of living, grease the MIC, and pad politician pockets.
If we’re going to be robbed again, fuck it, at least it’s going to help Americans for once.
And legalize prostitution.
I concur, but it’s coming out of your pocket anyway.
The US spends waaaaay more money on its healthcare system than any other country. By a wide margin. And we have little to show for it.
My wife works in healthcare, its an incredibly broken system.
Not entirely true. A portion of the GDP increase is due to price inflation that is born our of monetary inflation. In order to determine the true level of GDP increase you would have to change the equation to only calculate based on relative dollars.
GDP didn't skyrocket in WW2 because of the dollars printed. It skyrocketed because we were at war and factories were conscripted for the war effort. They were paid obviously, but at a base level the GDP increased because the output increased. This would have happened without the extra dollars being printed (i.e., dollar volume held constant). If the money supply increases but there is zero output the GDP does not increase. There has to be a thing made and transacted upon for GDP to be affected. It is only then that GDP can be affected by the money supply because it is only in this instance of a thing existing that a transaction occurs. Thus GDP is a slave to actual output and manipulated greatly by the money supply as the GDP unit of measure is the dollar (whose value relative to an item is determined by the volume of money in the market - an increase in money supply decreases the value of a dollar thereby increasing the number of dollars required to transact on an item; this will increase GDP but it is a false increase, ceteris paribus).
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Elizabeth Warren in response to people that didn't accrue the debt paying off the debt of others:
“Look, I’m not at all surprised that Mitch McConnell is attacking this. And the reason he’s attacking it is because it is very, very popular, popular among Democrats, Independents, Republicans, popular. And you know why? Because I don’t think there’s anybody left in America who doesn’t know somebody who isn’t struggling with student loan debt. This has become a part of our country now, people for whom their only sin was to want to try to get an education and not be in a family that could afford to write a check for it. And what we’re saying is, as a nation, we can do better than that. We can invest in our people. We can help our people. And ultimately, what the data show us is that because of student loan debt, there are many people who don’t move out of their mama’s basement, who can’t save up money to buy a home, who don’t start small businesses, who don’t start a family. You relieve the debt burden some for those people, and we have more economic activity. In other words, canceling student loan debt is good for the people whose debt is canceled. But it is also good for our economy and the rest of America.”
“Look, I’m not at all surprised that Mitch McConnell is attacking this. And the reason he’s attacking it is because it is very, very popular, popular among Democrats, Independents, Republicans, popular. And you know why? Because I don’t think there’s anybody left in America who doesn’t know somebody who isn’t struggling with student loan debt. This has become a part of our country now, people for whom their only sin was to want to try to get an education and not be in a family that could afford to write a check for it. And what we’re saying is, as a nation, we can do better than that. We can invest in our people. We can help our people. And ultimately, what the data show us is that because of student loan debt, there are many people who don’t move out of their mama’s basement, who can’t save up money to buy a home, who don’t start small businesses, who don’t start a family. You relieve the debt burden some for those people, and we have more economic activity. In other words, canceling student loan debt is good for the people whose debt is canceled. But it is also good for our economy and the rest of America.”
What she is really saying is this:
"Those that chose their major without doing a marketability analysis on what they were to learn are broke because they chose wrongly and paid a premium for it. Everyone else needs to pay for their bad decisions."
This is not true. There are two types of inflation: monetary and price. Monetary will push on price, we all know that. This is what you are talking about. Price inflation, however, has to do with the supply of money (monetary side) and the scarcity of the good vs the desirability of the good. Actual price inflation can be triggered by both.
And price inflation definitely does have much to do with fiscal policy. As monetary inflation pushes the costs of everything up (resulting in price inflation), it then pushes on the budgets and estimates of for the upcoming fiscal year. This also impacts the tax revenues, which further impacts fiscal policy.
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This is another optic scam by the Dems. This is unconstitutional and will be overturned if and when it hit the courts.The executive branch cannot control where the money goes that is left to congress so the Dems will blame the Repubs when it is overturned.
I bet the R's wont overturn it for fear of the bad PR.
I never said it was going to boost the GDP to forgive loans, although I do believe that's the case for reasons unrelated to the discussion here. For what you say to be true, 0% of them would have had to have been paying, which has never been the case in the history of the data. I would support fixing the student loan system regardless of what it would do to GDP, because the entire system is predatory and a policy disaster. But I wasn't suggesting that we should forgive it to "create stimulus" or whatever the fuck Congress says when they want a certain fiscal policy.
It seems that you just don't know the difference between fiscal policy. Also, to be clear, I've never said that irresponsible fiscal policy was a good idea or should be authorized. All I am saying is that inflation is not caused by fiscal policy. If the debt is monetized and paid for with printed money, that would cause extreme inflation, the historical examples (Zimbabwe) are too obvious to miss. But that is bad monetary policy. It isn't the spending, but the monetization that causes that.
I think this is an important distinction because ignorant belief that fiscal policy causes inflation puts the blame on the wrong party. It's the federal reserve that is responsible for the inflation we are now having. The blame should be 100% on them. And by blaming politicians instead of the fed, they will never be held accountable, and it's all of us that are paying the price now as our wages/salaries buy less.
Lol.
Caveat Emptor.
Now you're going to blame someone else because your degree and job doesn't pay what you wanted?
No. No sir.
Basically the gov
If the gov actually wanted to fix the problem, which is funny as gov is often THE PROBLEM, they’d get the fuck out do the education industry and allow people who got suckered into a expensive go no where degree to bankrupt out of it, just like if you financed a expensive lemon car, or a house that wasn’t worth nearly what you paid
That would fix this shit right quick
If the gov actually wanted to fix the problem, which is funny as gov is often THE PROBLEM, they’d get the fuck out do the education industry and allow people who got suckered into a expensive go no where degree to bankrupt out of it, just like if you financed a expensive lemon car, or a house that wasn’t worth nearly what you paid
That would fix this shit right quick
The saga continues.....
www.foxnews.com
Biden says resuming student loan payments will prevent handout from having a 'meaningful impact on inflation'
President Biden Wednesday claimed his student loan handout would not add to inflation, despite its potential cost of $300 billion
www.foxnews.com
So it's not actually inflationary until they write the check?
Got it.
Got it.
Good grief you do like to mince words.
He's been advised by @Downzero
The saga continues.....
Biden says resuming student loan payments will prevent handout from having a 'meaningful impact on inflation'
President Biden Wednesday claimed his student loan handout would not add to inflation, despite its potential cost of $300 billion
Dave Ramsey reacts to Biden's student loan handout: 'Obvious political ploy'
Dave Ramsey, personal finance expert and bestselling author, shared reaction to the student loan handout plan from President Biden, calling it an "obvious political ploy."
www.foxbusiness.com
"Render Unto Caesar what is Caesar's" Turn the other cheek and get a second job and pay your damn taxes you fucking heathens.......
They keep fucking 330,000,000 people and odds are one is going to get a little pissed off
And if I was on the jury, I’d nullify
You were not defrauded. You failed to do adequate research on the true earning potential. That stuff is available through job boards, among other things. So to answer your question, who pays in your situation? You do. Your decision, your consequences, no one else's. Its the mature thing to do and far more productive to you in the long run. Just pick yourself up, dust yourself off and go succeed at something else. We all have had to do it. Its just life. You weren't going to share the profits of your decision when it looked good and benefitted you, and you shouldn't have to if you don't want to. Likewise, however, you shouldn't be wanting others to share the loss of you endeavors or look to others to blame.
No insults meant here, just some quick advice. No one here is responsible for the mistakes of others, regardless of the source. IOW, no one that is a citizen of this country is responsible for others' mistakes and foolishness to the point that they should be subjected to involuntary taxation to pay for the bad decisions of others.
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That's complete bullshit and 10k doesn't come close to paying off a lot of our debts.
what a kick in the nuts to those of us who worked multiple jobs to finance college, and esp those who risked life and limb in the military to pay for college. once again, rewarding the most irresponsible among us and reinforcing bad behavior.
and i'm not even aware of any caveats, such as needing B or better gpa or no degrees in underwater basketweaving etc.
absolute friggin bullsh1t.
i guess biden likes being santa f_cking claus, but he'd f_cking our country over by making us taxpayers pay for this crap.
and i'm not even aware of any caveats, such as needing B or better gpa or no degrees in underwater basketweaving etc.
absolute friggin bullsh1t.
i guess biden likes being santa f_cking claus, but he'd f_cking our country over by making us taxpayers pay for this crap.
This is correct. One thing I would add: poor fiscal policy (i.e., profligate spending) WILL push on and impact monetary policy. This will in turn impact pricing (price inflation), which will turn around and impact fiscal policy OR cause another push of monetary policy to adjust the budget upwards to account for the price inflation. The only thing that breaks the cycle is common sense and stopping additional spending.
Sorry cocksucking hasn't panned out for you. You're the one who chose whatever bullshit path you chose, that's not my problem and I'm not responsible to pay for it. Attitudes like yours are what's wrong with america. Shit goes wrong for all of us all the time too but you won't catch us begging for handouts at other people's expense.
"Poor me, someone fix it, I'm helpless"
Fuckin bag of assholes.
Insult most assuredly meant.
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