By Grand Rapids Anonymous
wednesday, january 15, 2025 at 9:53:00 p.m. est
Economics, according to bIDEN: “debt means never having to actually pay it back"--he forgives another $4.5 billion in student loans--total amount “forgiven” is $183.6 billion
“() in the final days of his term, president [sic] Joe Biden announced the cancellation of federal student loan debt for more than 150,000 more borrowers.
“the latest round of relief provides $1.26 billion for 85,000 individuals who attended schools that allegedly 'cheated and defrauded' their students; $2.5 billion for 61,000 borrowers with total and permanent disabilities; and $465 million for 6,100 public service workers, the U.S. department of education said on monday.
“This latest action brings the total student loan debt canceled since Biden took office to $183.6 billion, benefiting more than 5 million Americans, according to the white house.
“I’m proud to say we have forgiven more student loan debt than any other administration in history,” Biden said in the statement.
“Much of Monday’s relief is facilitated through a program called borrower defense, which allows students to apply for debt discharge if their colleges use misleading advertising or otherwise commit fraud.
“A legal battle over borrower defense reached the U.S. Supreme Court on Friday when justices agreed to review the Biden administration’s borrower-defense rule, which simplified the application process for affected borrowers and allowed automatic debt discharges in some cases.”
GRA: Crooked economics and governing to the end.
--GRA
N.S.: This can't be legal; it all has to be wiped out.
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3 comments:
(1) We let health care turn into something that everyone's "entitled" to and everyone expects to be provided by Washington. Same thing's happened to college education. (2) "They" haven't quite been able to make it 100% nationally socialized, so put in something semi-socialized that's designed to fail, (3) so that when it fails, they can step in as the rescuers with the 100% nationally socialized system they wanted all along. Exhibit A, Obamacare, buy off the insurance companies to provide health insurance to the poor, where poor is defined as 400% of the poverty line. Exhibit B, student loans to students regardless of academics or aptitude, also made worse by Obama.
Combine with timid and unprincipled Congress who just comes up with more "money" to address the "crisis" and adds it to the national debt, even to the point that MTG and Thomas Massie vote to increase the debt ceiling (June 2023, I call it The Greene New Deal). And Trump wanted the dirty December stopgap spending to be suspended for two years; thank God that didn't make it through. And yes, I thank God that Janet Yellen left a poison pill, a debt ceiling that gets hit soon, maybe even this week.
The solutions (let student loan debt be dischargeable in bankruptcy and get the feds out of the loan/loan guarantee business) are impossible. We need Javier Milei and his chainsaw but nobody has stepped up.
So we wait until the whole system crashes Our new masters, whoever they are, will either fix it or they'll impose the 100% socialized systems. Meanwhile, try not to get sucked in by Congressional bills with patchwork non-solutions grandiosely named "Save" or "Improve" or "Rescue" education or healthcare or anything else.
By the way, each year on this High Holy MLK Day, I turn to Daniel, Chapter 3.
"To you the command is given... you are to fall down and worship the golden image... whoever does not fall down and worship shall immediately be cast into the midst of a furnace of blazing fire."
jerry pdx
What they don't say is that those debts do not go away, the money is still owed and somebody has to pay it. Guess who? Yup, we the taxpayer will ultimately pay for the debts of these irresponsible deadbeats with esoteric literature degrees working in coffee shops, or bottom of the grade pool law school graduates who can't find a decent paying legal job.
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