President Biden thread

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Wow.  No one has started such a thread yet?

After promising that most K-8 students would be in schools in the first 100 days,  apparently Joe is afraid to lead on this and has drastically scaled back that goal.

Instead, we're shooting for about half to go to school at least one day a week,  by the end of April.

https://www.usnews.com/news/education-news/articles/2021-02-09/bidens-goal-for-school-reopenings-suddenly-became-more-attainable

 

1 hour ago, toomuchbaloney said:

It's in the other "what caught your attention" thread. 

I know I found it, I was making a funny

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A federal appeals court put a temporary, administrative hold on President Joe Biden’s student loan forgiveness program, barring the administration from canceling loans covered under the policy, while the court considers a challenge to it.

https://www.cnn.com/2022/10/21/politics/biden-student-loan-debt-relief-program-appeals-court-pause/index.html

Drama

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25 minutes ago, Tweety said:

https://www.cnn.com/2022/10/21/politics/biden-student-loan-debt-relief-program-appeals-court-pause/index.html

Drama

Yep.

It's good for campaigning. 

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6 minutes ago, toomuchbaloney said:

Yep.

It's good for campaigning. 

Quote

Seven weeks out from the midterm elections, Democrats are facing better prospects than when they entered the Summer of 2022. Inflation has improved, gas prices are dropping, and as they go back home, congressional Democrats can claim a host of accomplishments from their time in DC.

But there’s one “win” some Democrats are concerned may be more of a liability than an asset: the Biden administration’s plan to cancel up to $20,000 in student loans.

https://www.vox.com/policy-and-politics/2022/9/18/23356614/midterms-2022-student-loan-forgiveness-polls-congressional-races

I'm not sure why the article is saying "seven weeks out" as it was written just last Tuesday.  But people don't seem to care.  

Of course it is resonating with young people and some of them vote.

https://www.cnn.com/2022/10/21/politics/joe-biden-student-debt-relief/index.html

Or maybe not....

 

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My "or maybe not" comment above was supposed to be followed by this article. 

https://reason.com/2022/10/19/polling-data-suggest-that-student-loan-debt-relief-is-not-very-important-to-young-voters/

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5 hours ago, Tweety said:

https://www.vox.com/policy-and-politics/2022/9/18/23356614/midterms-2022-student-loan-forgiveness-polls-congressional-races

I'm not sure why the article is saying "seven weeks out" as it was written just last Tuesday.  But people don't seem to care.  

Of course it is resonating with young people and some of them vote.

https://www.cnn.com/2022/10/21/politics/joe-biden-student-debt-relief/index.html

Or maybe not....

 

Resonating with free loaders

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18 hours ago, Tweety said:

https://www.cnn.com/2022/10/21/politics/biden-student-loan-debt-relief-program-appeals-court-pause/index.html

Drama

Thanks for the reminder to apply.

And, thank you fellow taxpayers, for taking on 20k from my wife and I.  Must make you proud of Joe!

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5 hours ago, Beerman said:

Thanks for the reminder to apply.

And, thank you fellow taxpayers, for taking on 20k from my wife and I.  Must make you proud of Joe!

You’re welcome. It was the least we could do after forgiving all those PPP loans to the likes of MTG and Matt Gaetz.

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5 hours ago, Beerman said:

Thanks for the reminder to apply.

And, thank you fellow taxpayers, for taking on 20k from my wife and I.  Must make you proud of Joe!

You're getting 20K and the burden per tax payer is $2,500, a figure I've read a couple of times.  So you personally aren't really having anything taken away are you?  

The burden really falls on people like myself, someone paying high taxes with  very little write offs and a middle income that is seeing nothing for the $2,500 cost to me.  You're welcome.

I'm happy that Biden was able or at least try to keep his campaign promise but I also can't say I approve of the 400 billion cost (an estimate over 30 years).   But it beats bombs I guess.

https://www.cnbc.com/2022/09/02/student-loan-forgiveness-could-cost-2500-per-taxpayer-research-finds.html

https://www.npr.org/2022/09/27/1125272287/student-loan-forgiveness-cost-billion

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5 hours ago, Beerman said:

Thanks for the reminder to apply.

And, thank you fellow taxpayers, for taking on 20k from my wife and I.  Must make you proud of Joe!

I don't remember you whining so loudly about the individual tax payor cost to give the wealthiest a tax break during Trump's single term. I guess hypocrisy isn't a concern for you.

It does make me proud that working class folk were the focus of that government initiative and not the wealthy. WE THE PEOPLE deserve to benefit from their tax dollars too.

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50 minutes ago, toomuchbaloney said:

I don't remember you whining so loudly about the individual tax payor cost to give the wealthiest a tax break during Trump's single term. I guess hypocrisy isn't a concern for you.

If a person believes spending through taxation is "taking away" then tax cuts are giving people back their money.  I've seen this analogy before.  If one believes this way, there's no hypocrisy there.

To me the hypocrisy is being worried about the deficit but supporting tax cuts that added to it at least in the short term.  I think the final analysis of how the tax cuts may or may not have helped got complicated by covid and its aftermath.

Quote

President Donald Trump’s tax, spending, and deficit legacy is still being defined. Critics point out that Trump’s tax cuts and spending increases led to a $3 trillion budget deficit. They note that Trump’s presidency saw the debt surpass 100% of the economy, even though he came into office with a healthy economy, declining interest rates, and relative peace after 15 years of global military conflict.

On the other hand, the president’s defenders respond that he inherited large budget deficits that were already projected to grow on autopilot due to escalating Social Security and Medicare costs. They argue that the 2017 tax cuts contributed heavily to the growing economy through 2019. Finally, they note that the president repeatedly proposed budgets with significant deficit reduction but was thwarted by a bipartisan congressional majority that aggressively supported expensive new initiatives, as well as by a global pandemic that virtually everyone agreed required a massive federal response.

 

https://www.manhattan-institute.org/trumps-fiscal-legacy

We've had many discussions about the tax cuts during the Trump administration.  Research is showing it did benefit the middle class.  As you remember though I was against it for a variety of reasons.  

https://thehill.com/opinion/finance/584190-irs-data-prove-trump-tax-cuts-benefited-middle-working-class-americans-most/

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6 hours ago, Beerman said:

Thanks for the reminder to apply.

And, thank you fellow taxpayers, for taking on 20k from my wife and I.  Must make you proud of Joe!

Is it that you're really having 20k taken from you, or are the predatory loan companies just not making as big a profit?

I took out a $15,000 loan for grad school. I made 53 payments totaling $12,000 before the pandemic pause. My balance, currently not accruing interest? Still near $10,000.

I still have undergrad loans too, which because they're consolidated aren't eligible for the pause. I have been paying on it since November 2005, for a total of $19,954 of the $21,266 borrowed. My loan balance is just shy of $6,000, and that's at an incredible interest rate of 1.625%.

Student loans currently have an interest rate of about 5% for undergrad and a little over 6% for graduate. I don't even want to know what private loans are charging. As a nation, almost everyone is told they need to go to college to get a good paying job. These are KIDS not even out of high school applying to colleges and filling out the FAFSA for student loans. There is little to no education about what it means when someone so young signs up to take the loan. And I don't even want to hear about how older folks were able to work for the Summer and pay tuition - tuition has gone up at an exponential rate while wages, especially the minimum wage those Summer jobs would pay, have not.

I have no issue with requiring people to pay back what they borrowed. I do, however, take issue with using educational loans to make obscene profits. That 10k I may get? Doesn't even cover all of the interest I have and will continue to accrue. I will have more than paid back what I borrowed.

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