STUDENT LOAN RELIEF: you, and the vast majority everyone else in the country, are all making a freshman level accounting mistake. You’re confusing a balance sheet asset write off with an actual current capital expense. Student loans are owned by the fed gov. The money was paid out to the colleges ages ago. It’s long already been spent. The loans are now an asset held on the fed govt’s books. Canceling them is literally nothing more than an accounting entry that reduces the overall amount of govt assets. Absolutely no cash changes hands. No new financial burden is incurred. No taxes are needed. Even ignoring MMT entirely, writing off the loans (the government owns 92% of them) does not cost tax payers a penny! DD
Teaching young people to not have to pay off their loans is a great lesson for young people. Yes, they could write it off, but the 1 trillion dollar bill would still be added to the deficit.
That's a weird comment. You act like the right are more Christian like. LOL There's one party that believes in treating everyone as equals, helping the poor, helping the sick, and that's the Democrats. Then there's the right. The group that embraces and incites hate groups, lies, lies, lies, and votes against any bill to help those in need.
She is extremely smart and has a lot of drive. She and Fetterman are the top upcoming talents in the Democratic Party. She is constantly under estimated because she is a woman, fat, black and from the South. What they fail to realize is that her thirst and brain power make her a dynamo.
What did Freddie Mac and Fannie Mae have to pay back? What did Matt Gaetz, Majorie Taylor Green have to pay back on their forgiven PPP loans. I am just convinced that you are very young, as your level of understanding how all of this works is sorely lacking. Look up predatory lending, and how debt is a way of controlling people. Break free the Matrix is much more fun as someone that is enlightened. AND YOU ARE 100% WRONG nothing would be added to the deficit......NOTHING AT ALL....it is an ASSET that will be written off......it has ZERO to do with the deficit.....now carry on, you need to get to school and learn stuff. DD
Your evaluation on the quality of posts is terrible (at least in this instance). As bad as DaDa is on sports, he is way worse on politics.
Debt isn't an asset and unpaid loans is debt even if you loan yourself the money. Going by your theory the govt should loan every citizen a million dollars and then just write off the debt. Sorry things dont work that way.
They could do that if they wanted to, it is not like a business when you can print the money. And the students owe the money to the government making it an asset in their ledger. DD
Better than teaching CEO’s that they can use their corporate tax cuts to buy back stocks to inflate their stock prices to get even higher bonuses is that better? At least with helping students it is actually helping people who need it the most. Not like the corporate tax cuts who helped out the rich and wall street.
