Biden Bails Out Losers With Worthless College Degrees

[Reiwa]

Originally Posted by Lune [You must be logged in to view images. Log in or Register.]

I support forgiveness solely because hypocritical Republicans are so against it, you know, the ones who had billions in PPP loans forgiven, many of whom used not a cent for payroll, because Republicans gutted the oversight provision of the bill.

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[Evia]

Originally Posted by Lune [You must be logged in to view images. Log in or Register.]

SCOTUS will more than likely strike it down. Which means, in retaliation, Biden will extend suspension of interest accrual and collection through '24, possibly even '28 (if he wins and lives that long, he probably won't do either), costing ever more billions.

Meanwhile, Gen Z and millennials will be ever more driven to turn out for Democrats like they did in '22, and will continue to face a demographic financial crisis: 'If a young person has $40,000 in loans at 6% they took at 18 years old with promises that it was their key to prosperity, and no realistic way to pay it off, that's a problem for the young person. If 54 million young people have $1.6 trillion in loans at 6% and no realistic way to pay it off, that's a problem for society'.

So not only are we unable to place a band-aid on this gushing financial wound our society has, stitching it up by reforming higher education is simply unimaginable in this political climate. This is a ticking bomb that is probably going to go off within the next decade or two, as progressively larger sections of the workforce become automated, corporations become ever more effective at crushing labor, and there are simply not enough decent-paying jobs to go around. As it is currently, most people have bullshit jobs that accomplish nothing and exist only because of laws, bureaucracy, or legacy corporate inefficiency.

*Disclaimer*: I had loans briefly but paid them off because I have a good job and large inheritance. In isolation, I think forgiving student loans is a bad idea and the money could be used in other ways for much more good. I support forgiveness solely because hypocritical Republicans are so against it, you know, the ones who had billions in PPP loans forgiven, many of whom used not a cent for payroll, because Republicans gutted the oversight provision of the bill. It's about time actual people, not corporations, get a bailout.

btw, one of the reasons inflation is so high is because those 54 million Americans indebted with student loans haven't been paying them down during this pause in interest accrual, and instead have been buying fucking consumer goods or taking vacations from work lol

so to sum this up, the majority of americans are not that smart with money. They made terrible decisions with their own finances because they saw education as their 'get rich' dream and it didnt pan out.

we better bail them out or demolish capitalism as a response. Or even better, stick it to the republicans because of ??Reasons??

seems like sound and sane logic.

[Toxigen]

Originally Posted by Evia [You must be logged in to view images. Log in or Register.]

so to sum this up, the majority of americans are not that smart with money. They made terrible decisions with their own finances because they saw education as their 'get rich' dream and it didnt pan out.

we better bail them out or demolish capitalism as a response. Or even better, stick it to the republicans because of ??Reasons??

seems like sound and sane logic.

qft

wont convince lune tho hes the definition of a liberal dipshit

[Basanos]

Originally Posted by Evia [You must be logged in to view images. Log in or Register.]

we better bail them out or demolish capitalism as a response.

Thankfully, there is room for both

[Encroaching Death]

Originally Posted by Lune [You must be logged in to view images. Log in or Register.]

hypocritical Republicans are so against it, you know, the ones who had billions in PPP loans forgiven, many of whom used not a cent for payroll

1. Government-forced business shutdown was not a choice. Getting a loan to go to college is a choice.

2. You HAVE to use PPP money on payroll. Payroll is the largest expense for a business.

[Reiwa]

Originally Posted by Encroaching Death [You must be logged in to view images. Log in or Register.]

2. You HAVE to use PPP money on payroll. Payroll is the largest expense for a business.

EIDL?

[Encroaching Death]

Originally Posted by Reiwa [You must be logged in to view images. Log in or Register.]

EIDL?

Yeah, all of those loans are like that.

We got two loans in 2020 for my business.

We even opened a separate bank account for them to avoid penalties.

[Reiwa]

Originally Posted by Encroaching Death [You must be logged in to view images. Log in or Register.]

Yeah, all of those loans are like that.

We got two loans in 2020 for my business.

We even opened a separate bank account for them to avoid penalties.

Productive relief is simply better. Market intervention goes brr.

[Lune]

Originally Posted by Evia [You must be logged in to view images. Log in or Register.]

so to sum this up, the majority of americans are not that smart with money. They made terrible decisions with their own finances because they saw education as their 'get rich' dream and it didnt pan out.

we better bail them out or demolish capitalism as a response. Or even better, stick it to the republicans because of ??Reasons??

seems like sound and sane logic.

The upper middle class white experience for millions was this: "You need to go to college at all costs in order to make something of your life". This wisdom was dispensed by a generation that could support a family of 4 on one income driving a taxi cab or being a custodian, but they saw that the caste above them were all college educated, and in that time a college degree was several orders of magnitude more valuable.

By the time both boomer and millennial zeitgeist knew things had changed, it was already too late.

Yes, a huge part of the problem was people majoring in gender studies and then working at Starbucks, but that's a meme and it's far from the whole story. It mirrors all the people leading up to 2008 who bought houses with mortgages they could never afford, thinking the future would always be like the past.

All of these people made mistakes. The one and only part that pisses me off is that it's only ever corporations that get bailouts when they make mistakes, ordinary people are just told to kick rocks. At the very least, industries that are too big to fail, and then fail, should be partly or wholly nationalized, or at least broken up.

Essentially every single regulation put in place after 2008 to ensure it didn't happen again was dismantled by Republicans.

So it's half about justice in bailing out my generation, and half about my deep-seated hatred of Republicans and opposing them at every step of the way. Opposition to student loan forgiveness is 100% driven by corporations or financial elite (I'm not talking about common folk bitching on facebook, I'm talking about the initiators of lawsuits and legislation), all with the sole purpose of suppressing labor freedom and ensuring a steady supply of wage slaves. (This is also a large part of why healthcare is tied to employment in the US).

Originally Posted by Encroaching Death [You must be logged in to view images. Log in or Register.]

1. Government-forced business shutdown was not a choice. Getting a loan to go to college is a choice.

2. You HAVE to use PPP money on payroll. Payroll is the largest expense for a business.

lol, what you "have" to do doesn't fucking matter one bit when you strip the program of any oversight or enforcement. The PPP was rife with fraud.

Also, at the end of the day, IT'S CAPITALISM BITCH. The vast majority of those businesses weren't shut down, or when they were, it wasn't for long-- the true decimation of business during the pandemic was the long period in which many people were afraid or reluctant to go into public.

Your business is too weak and shitty to survive a pandemic? You deserve to go out of business. It's not the taxpayers' fucking job to bail you out. This is precisely how I feel about student loans as well. The difference is, we live in a reality where the government is constantly handing out bailouts to corporations and business elites, and to nobody else.

That's the part I take issue with and why I think some of the student debt should absolutely fucking be forgiven.

[Encroaching Death]

Originally Posted by Lune [You must be logged in to view images. Log in or Register.]

lol, what you "have" to do doesn't fucking matter one bit when you strip the program of any oversight or enforcement. The PPP was rife with fraud.

Also, at the end of the day, IT'S CAPITALISM BITCH. The vast majority of those businesses weren't shut down, or when they were, it wasn't for long-- the true decimation of business during the pandemic was the long period in which many people were afraid or reluctant to go into public.

Your business is too weak and shitty to survive a pandemic? You deserve to go out of business. It's not the taxpayers' fucking job to bail you out. This is precisely how I feel about student loans as well. The difference is, we live in a reality where the government is constantly handing out bailouts to corporations and business elites, and to nobody else.

That's the part I take issue with and why I think some of the student debt should absolutely fucking be forgiven.

Yes, you HAVE to spend PPP on expenses (AKA payroll).

The government forcing your business to shutdown is the opposite of Capitalism.

If the government forces you to close, they have a responsibility to reimburse that company.

All that money goes directly to employees. If it doesn't, you get fucked in the ass.

We got enough to cover payroll for 2 months in 2020, and another 2 months in 2021. I've been through the process. Twice.

Sorry you majored in Lesbian Dance Theory and no one wants to hire you. That sucks you owe $200,000 [You must be logged in to view images. Log in or Register.]