Student Loans

Trapper Gus wrote:

TravelinMan wrote:

Yeah, that wasn't targeted at me, you just happened to say that in response to a post I made. It's clearly my fault for taking it that way.

You lose more credibility each day, Trap.

It was targeted both at people who call themselves Libertarians in general, and at you in particular, but, logically, it has a "back door" that you can walk out of, if it doesn't apply.

I would say it is somewhat telling about who you really are that you chose not to use that back door in your reply, but you could just feel that your belief system, which you picked up as a kid, has some flaws and are reacting defensively.

Sorry for lashing out. Sometimes I delude myself into thinking you and I can have fun debates. Then I hate myself when you prove me wrong again and again. I’ll work on that.

TravelinMan wrote:

GRR Spartan wrote:What is the cheese with your Wednesday whine Travelin?

Nothing and no one is keeping you here.

Uh oh. I must be on target today. Grramps wants to run me off.

Sometimes us old people have little patience for wrongheaded ideas. (I'm an exception, I am happy to point out the flaws in them)

TravelinMan wrote:

Trapper Gus wrote:

It was targeted both at people who call themselves Libertarians in general, and at you in particular, but, logically, it has a "back door" that you can walk out of, if it doesn't apply.

I would say it is somewhat telling about who you really are that you chose not to use that back door in your reply, but you could just feel that your belief system, which you picked up as a kid, has some flaws and are reacting defensively.

Sorry for lashing out.  Sometimes I delude myself into thinking you and I can have fun debates.  Then I hate myself when you prove me wrong again and again.  I’ll work on that.

We probably can if we both learn to stifle our instinctive defensive replies and also learn to read closely what each other posts.

Also, I need to reduce my "snark" level in my replies to you.

You guys should just text each other tbh and spare everyone else

TravelinMan wrote:

Cameron wrote:I don't feel that I have been wronged by this guy getting his loan forgiven. Doesn't seem to have cost me anything, and has resulted in a net increase in the amount of happiness in the world. Uniformly positive development, in my estimation.

It didn't cost you anything? Oh you sweet summer child.

I just double checked, my bank balance is still the same as it was yesterday. How much did it cost you?

I think he thinks that money was spent to pay off a loan. You have to understand that if you get off of the boiler plate talking points then libertarianism doesn’t actually make any sense at all so the answer to that problem is to never ever ever get off of the standard boiler plate talking points.

Travis of the Cosmos wrote:I think he thinks that money was spent to pay off a loan. You have to understand that if you get off of the boiler plate talking points then libertarianism doesn’t actually make any sense at all so the answer to that problem is to never ever ever get off of the standard boiler plate talking points.

Another swing and a miss. You folks aren't very good with economics, are you?

Future payments are not money today, they are credits on a balance sheet, when they are erased they still are not money today, nor do they change the amount of money the US borrows, today.

TravelinMan wrote:

Travis of the Cosmos wrote:I think he thinks that money was spent to pay off a loan. You have to understand that if you get off of the boiler plate talking points then libertarianism doesn’t actually make any sense at all so the answer to that problem is to never ever ever get off of the standard boiler plate talking points.

Another swing and a miss. You folks aren't very good with economics, are you?

lol sure

I believe this was the loan servicing company that the Republican AG's used to force their case against the original Biden plan for $10k of loan relief for all debters with lower income which TSCOTUS eventually ruled unallowable.

https://www.cnn.com/2024/04/30/politics/pslf-student-loan-pause-mohela/index.html

TravelinMan is like cockroach.
Never leaves

GRR Spartan wrote:TravelinMan is like cockroach.
Never leaves

Thanks, Grramps.

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Judge tosses Republican-led states' challenge to Biden student debt plan

June 7 (Reuters) - A federal judge in Kansas on Friday ruled that only three of 11 Republican-led states that filed a lawsuit in his court challenging a major Biden administration student loan forgiveness and repayment plan could proceed with their case.
U.S. District Judge Daniel Crabtree in Wichita ruled that the states of South Carolina, Texas and Alaska "just barely" alleged enough facts to find they had legal standing to challenge the Biden administration's plan in court.

[tw]1803169110211137911[/tw]

If I had a student loan, I know I would be voting the Democratic Party, which at least isn't cheering for continuing this farce.

Saw this on social media….

So the president can’t forgive student loans but he can order a drone strike on student loan collectors?

So, if people want to talk about student loan forgiveness, & taxes, maybe this is a better thread to use?

It has been asked in a different thread why the US government doesn't just borrow all the money it needs instead of borrowing some of the money & having taxes to get some of the money...

Well...

There is a third option, which is that the US government would just "create" the money it needs without borrowing.

However, the somewhat convoluted system in place of the government borrowing money & then paying interest & taxing for more money supports a somewhat complex economic world.

Borrowed money, notes, bills & bonds, is considered the safest investment that can be made. Unless the government fails, which for all the Ayn Rand/cybercurrency/South African fanboy attempts to cause that to happen isn't a remote possibility, the interest will be paid and the principle returned on demand. Thus, eliminating US borrowing would very much destabilize the world's financing. A very bad idea.

The system of taxes & borrowing is the method by which the government is kept in (very loose) control in its spending. For all the noise about the government borrowing & spending too much, with no taxes more people wouldn't care, and the government spending would lose one of the control methods which keep it somewhat in check. The noise about government borrowing & spending is the point of taxes. This argument goes double for the idea of the government just creating money without borrowing.

So Biden has done what the Trump judges allowed him to do.

At least he has repaired that fubar that Trump's first term created...

Trapper Gus wrote:So Biden has done what the Trump judges allowed him to do.

At least he has repaired that fubar that Trump's first term created...

What has he done?

DWags wrote:

Trapper Gus wrote:So Biden has done what the Trump judges allowed him to do.

At least he has repaired that fubar that Trump's first term created...

What has he done?

There are two "deals" made with the borrowers of standard student loans that have always been there.

Deal One is that for borrowers who work in certain sectors, as teachers or other "public servants" can, after 10 years of paying their student loans, gain forgiveness for them.

Deal two is the same as Deal One except the time period is 25 years and the sector is anyone who has a loan.

Prior to Biden, and exasperated by DeVos, the processing of forgiveness was so fubar that very few people who met the terms received forgiveness. Biden told his people to make it high priority to fix that, and they have. It may be a small percentage of borrowers but it ain't nothing, and Trump et al were doing what Trump does, raping people who followed the rules.