AbsolutSurgen Posted August 24, 2022 Share Posted August 24, 2022 I'm sure we will see lots of Economists chime in.... Quote Link to comment Share on other sites More sharing options...
MarSolo Posted August 24, 2022 Share Posted August 24, 2022 1 2 Quote Link to comment Share on other sites More sharing options...
Jason Posted August 24, 2022 Author Share Posted August 24, 2022 9 minutes ago, AbsolutSurgen said: I'm sure we will see lots of Economists chime in.... 2 Quote Link to comment Share on other sites More sharing options...
Jason Posted August 24, 2022 Author Share Posted August 24, 2022 1 1 Quote Link to comment Share on other sites More sharing options...
AbsolutSurgen Posted August 24, 2022 Share Posted August 24, 2022 2 minutes ago, Jason said: He was also Obama's Economic Policy Director, and led Obama's Council of Economic Advisors for 4-years. So, clearly, a GOP shill. 1 Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 24, 2022 Share Posted August 24, 2022 3 minutes ago, AbsolutSurgen said: He was also Obama's Economic Policy Director, and led Obama's Council of Economic Advisors for 4-years. That makes only him infinitely worse. 1 Quote Link to comment Share on other sites More sharing options...
Guest Posted August 24, 2022 Share Posted August 24, 2022 I’m glad Furman is bringing up worthwhile issues with the plan. There certainly are unintended consequences of what the Biden administration has proposed here, and it would be nice if he is able somehow to line up congress to help address those problems. Quote Link to comment Share on other sites More sharing options...
Kal-El814 Posted August 24, 2022 Share Posted August 24, 2022 26 minutes ago, AbsolutSurgen said: I'm sure we will see lots of Economists chime in.... There are few professions less useful than economist. 1 Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 24, 2022 Share Posted August 24, 2022 9 minutes ago, sblfilms said: I’m glad Furman is bringing up worthwhile issues with the plan. There certainly are unintended consequences of what the Biden administration has proposed here, and it would be nice if he is able somehow to line up congress to help address those problems. The immediate outcome musy necessarily be a cap on the amount of debt that can be accumulated for education, whether public or private. 1 Quote Link to comment Share on other sites More sharing options...
marioandsonic Posted August 24, 2022 Share Posted August 24, 2022 3 Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 24, 2022 Share Posted August 24, 2022 Quite frankly, if this is going to throw kindling on the inflationary fire, then it might as well be done now when that conflagration is already raging and the overall effect of some extra fuel will be relatively unnoticeable. Maybe the Fed raises the prime rate by an extra 25 to 50 basis points over what they were already planning to do anyway. To which I say ¯\_(ツ)_/¯ 2 Quote Link to comment Share on other sites More sharing options...
Chris- Posted August 24, 2022 Share Posted August 24, 2022 How is it inflationary? People haven’t been paying loans for two years; that money is already being spent. Writing off federal debt is an accounting trick. 4 Quote Link to comment Share on other sites More sharing options...
SaysWho? Posted August 24, 2022 Share Posted August 24, 2022 TIL: There are legions of married couples making $249k who used Pell grants. 3 Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted August 25, 2022 Share Posted August 25, 2022 95% of pell grant recipients (I.e. those who qualify for the 20k forgiveness) come from families that make less than $60k, and a full 51% come from families who make $20k or less. the reason Biden uses his examples and not the bullshit one from Furman is because Bidens are far more likely to happen than the other. Two people both from families in the bottom ~40th percentile (or lower!) for income both getting married and then both getting jobs where their combined income puts them in the top ~7the percentile for household income is very unlikely. yeah they should be taxed more, but no matter what the cutoff is there’s going to be bitching about it from privileged economists. If the cutoff was $75k a piece you’d hear the same thing about a married couple making $149k 1 Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted August 25, 2022 Share Posted August 25, 2022 17 minutes ago, SaysWho? said: TIL: There are legions of married couples making $249k who used Pell grants. Quote Link to comment Share on other sites More sharing options...
Pikachu Posted August 25, 2022 Share Posted August 25, 2022 2 2 Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted August 25, 2022 Share Posted August 25, 2022 Quote Link to comment Share on other sites More sharing options...
AbsolutSurgen Posted August 25, 2022 Share Posted August 25, 2022 The best part of this announcement are the inane analogies that are going on in the Twitter wars tonight. Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted August 25, 2022 Share Posted August 25, 2022 34 minutes ago, AbsolutSurgen said: The best part of this announcement are the inane analogies that are going on in the Twitter wars tonight. Just admit that you don't want poor people having their loans written off. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted August 25, 2022 Share Posted August 25, 2022 The poor taking it on the chin again 1 Quote Link to comment Share on other sites More sharing options...
GeneticBlueprint Posted August 25, 2022 Share Posted August 25, 2022 42 minutes ago, AbsolutSurgen said: The best part of this announcement are the inane analogies that are going on in the Twitter wars tonight. Yeah like this one Quote Link to comment Share on other sites More sharing options...
Guest Posted August 25, 2022 Share Posted August 25, 2022 12 minutes ago, GeneticBlueprint said: Yeah like this one I have read this about 10 times and still can’t tell if this is a genuine take or mockery Quote Link to comment Share on other sites More sharing options...
Jason Posted August 25, 2022 Author Share Posted August 25, 2022 probably a genuine take Quote Link to comment Share on other sites More sharing options...
GeneticBlueprint Posted August 25, 2022 Share Posted August 25, 2022 Newsweek author so definitely a genuine bad take Quote Link to comment Share on other sites More sharing options...
thewhyteboar Posted August 25, 2022 Share Posted August 25, 2022 1 Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted August 25, 2022 Share Posted August 25, 2022 I think there's some real misconceptions in this thread. I received Pell grants and was poor AF. Student loans kept me broke through my 20s and 30s, I didn't have kids because I couldn't make ends meet. I make 190k now plus bonuses, the point of going to school was to make more money eventually, but it did come at a massive cost. Am I asking people to pity me? Not really, but the idea that all people who are making large sums weren't negatively affected by this debt are false. I'm happy people are getting relief, I wish I could have gotten some in my 20s or 30s and I still owe 50k. 6 Quote Link to comment Share on other sites More sharing options...
Comet Posted August 25, 2022 Share Posted August 25, 2022 16 hours ago, Jason said: Does the executive branch need authority from Congress to start putting caps on student loans? Colleges and universities have been massively upping tuition because the loan amounts are completely unlimited. If the feds put a maximum on how much student loans per yer people could get the schools would have a ton of pressure to rein in tuition to match the new loan limits. I'm not sure of the legality of this, but if Biden can do it then it should be done. Otherwise, I go back to saying this is good progress given what is possible within the administration's reach. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted August 25, 2022 Share Posted August 25, 2022 Many such examples 1 Quote Link to comment Share on other sites More sharing options...
Kal-El814 Posted August 25, 2022 Share Posted August 25, 2022 12 minutes ago, b_m_b_m_b_m said: Many such examples The sun rises in the east, water is wet, and with conservatives, it's projection. Quote Link to comment Share on other sites More sharing options...
Guest Posted August 25, 2022 Share Posted August 25, 2022 PPP was one of the most poorly designed government programs I've ever seen. It was all scouts honor on both what you needed and what was forgiven. I would be surprised if even half of the PPP money was used in the ways intended by congress when they passed it. And lemme tell you a little secret about the Save Our Stages/Shuttered Venue Operator Grant: many small venues and cinemas made *more* via the grant in net profit than had they been open. The reason why is that most small venues and cinemas own their own buildings, but in a separate entity. So they were able to use the grant money to cover lease expenses that they hadn't been paying...to themselves. And yeah, pretty much no oversight on that. I know one operator that in a typical year would net around $150k, but the SVOG awards were based on gross revenue from 2019 (a huge year for the business). So their costs in 2020 went to nearly zero minus things like property taxes, but received about $1 million in SVOG money. Since our indoor and one of our high performing drive ins are actually under the same entity, our 2020 numbers for that business didn't decrease enough to be SVOG eligible and get in on that gravy train Quote Link to comment Share on other sites More sharing options...
Brian Posted August 25, 2022 Share Posted August 25, 2022 2 2 1 Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted August 25, 2022 Share Posted August 25, 2022 1 hour ago, Kal-El814 said: The sun rises in the east, water is wet, and with conservatives, it's projection. Gee I wonder why they’re all upset about the 87,000 new irs agents huh Quote Link to comment Share on other sites More sharing options...
SaysWho? Posted August 25, 2022 Share Posted August 25, 2022 1 hour ago, Brian said: @Spork3245 @69los @Chairslinger @cusideabelincoln @johnny You may have seen this already but fuck it, just in case. 1 Quote Link to comment Share on other sites More sharing options...
cusideabelincoln Posted August 25, 2022 Share Posted August 25, 2022 If only I didn't refinance my loan with a private lender a year before the pandemic Quote Link to comment Share on other sites More sharing options...
marioandsonic Posted August 25, 2022 Share Posted August 25, 2022 So THAT'S why they're so upset! 1 Quote Link to comment Share on other sites More sharing options...
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