So how about that COVID business loan money… Oh we ain’t getting that back.
How about the auto bailout money… Not seeing that back either
How about the bank bailouts from 16 years ago. Gotcha, also not getting that back.
You, random student, we will get that 40k back from you if it takes 50 years.
‘Member the airline bailout after 9/11? They also “temporarily” increased ticket prices and added checked bag fees (which didn’t used to be a thing at all) to account for the reduced sales. I’m sure those extra profits totally got responsibly invested into the air fleets 🤣
As to the auto industry bailout, would you rather have had a major American industry simply collapse?! Don’t know about the others, but Chrysler paid it all back, with interest, years ahead of schedule.
The Treasury made a profit on the bank bailouts.
https://en.wikipedia.org/wiki/Emergency_Economic_Stabilization_Act_of_2008
And all of that put together is chicken change against the $1.7 trillion owed in student loan debt.
Isn’t the point of our government to break up industries to big to fail so things like this don’t happen? Congratulations you solved a problem that your institution is supposedly designed to prevent.
The average American were the main ppl who lost their houses and jobs and got jackshit back from those bailouts. (Besides a measly 20 billion back from the bank bail out. Our government budget is in the trillions)
No one is saying forgive 1.7 trillions tomorrow but it is MORE than possible to forgive that much debt over time and recoup it. Especially since as soon as that debt is gone ppl will buy shit like houses, take out loans for businesses, and have kids which all add economic value and tax revenue.
The economic loss of losing a generation and a half of workers who will be unable to save for retirement and will put a giant strain on the economy in 40-50 years when their brains and bodies are shot, but they can’t afford to retire because the money that they could have set aside went to paying student loans. It’s going to be way cheaper in the long run and a better investment to forgive student loans now, than to wait for all those people to hit retirement age and not be able to afford to retire, holding down jobs that should be opening for new generations and screwing over the youth once again. Not that newer generations will be as big, since those strapped with student loans are choosing not to have kids because they can’t afford it. Also if our social safety net for retirees (Social Security, Medicare, etc) is already strained, we’d better give people the best chance we can at being able to afford to save for their own retirements.
If anything, the ROI on paying off student debt is better long term than the auto and bank bailouts - because the cost of not doing it is going to affect the economy for generations.
That profit worked out to be about 0.6% rate of return on a loan to failing businesses on the verge of bankruptcy. Do you know anybody on the verge of bankruptcy who’s ever received a loan with rates like that?
Taxpayers would have been better off holding onto the company stock and receiving a portion of the profits today.
We were robbed.
At best you are misinformed.
GM paid back the loan but didn’t pay back the 45 billion dollar stock swap.
The Bank Bailouts were paid back, but the excessive reserves were not which dwarfed the loans.
For scale imagine I gave you a small city and 1000 dollars. You paid me back 1050 dollars. Then I never shut up about how I made a profit and enjoy my small city. No exaggeration a small city is the kinda money we are talking about. The excessive reserves program went into the 100s of billions.
What does it matter to the auto industry to be saved if no one is buying their cars?
The population can only bear the burden of these bailouts for so long before collapsing. Then nobody will survive.
The people in debt are the plankton of the ocean. They seem insignificant until they are gone. Then the whole ecosystem collapsed.
Well, that title was a real kick in the urethra. Had me excited until the last word.
I might need to watch a sitcom about good, likeable people where after 30 minutes, everything is going to turn out okay.
language included in the 2024 Federal Aviation Administration Reauthorization Act that could pave the way toward banning student loan cancellation.
The current draft of the routine bill [bars] executive branch officials from cancelling or forgiving student loans taken out to pursue flight training or education at the undergraduate level, the Debt Collective warned on Wednesday.
It’s like republicans are actively trying to lose in November.
Edit: Also for the folks who didn’t read the bill. Ted Cruz ® is a cosponsor. Cruz HATES student debt relief. The other sponsors have all supported variations of student debt relief. Just say’n. If were wondering who snuck this into a boring routine bill, I’d start with that guy.
It’s like republicans are actively trying to lose in November.
Um, did you stop reading at the second sentence?
The Debt Collective named Sen. Chuck Schumer (D-N.Y.), Rep. Hakeem Jeffries (D-N.Y.), Sen. Maria Cantwell (D-Wash.), Sen. Tammy Duckworth (D-Ill.), and Rep. Rick Larsen (D-Wash.) as particularly responsible for the language.
I don’t have any love for the GOP, but this particular bit of “fuck you” is from neoliberal Democrats. They need replacing. Not with Republicans, but with better Democrats.
Yea I’m calling Cantwell today, this is bullshit. She’s usually pretty solidly on the right side of things but this is ass backwards.
Procorporate trash. All of them
Ted Cruz is a cosponsor, and the only cosponsor that actively campaigns against student debt relief.
It can only go so far before people wake up and start voting properly or heads start rolling, right?
Nah, it’s just that the machine has long since learned that they get more votes by attacking “the enemy” than by proposing anything constructive at all. The entire crux of their existence now is about being contrarian and “hurting the people who need it”. It’s a bit like clickbait. Everyone fucking hates it but it’s not going away because it works.
People have been pussified to the bone in this country. Government keeps smacking us down and we just stay down. We need the French attitude
Not government. Republican government.
to be completely fair, while it’s obviously the correct choice between the two, the democratic party isn’t exactly a shining beacon of social justice either.
This language was added by Democrats.
Was it? Ted Cruz and Jerry Moran are also cosponsors.
I don’t know how to see who added what to a draft, but this does have bouquet of Cruz to it. If someone told be his office snuck it in, I wouldn’t be surprised.
Obviously you didn’t read the article.
The Debt Collective named Sen. Chuck Schumer (D-N.Y.), Rep. Hakeem Jeffries (D-N.Y.), Sen. Maria Cantwell (D-Wash.), Sen. Tammy Duckworth (D-Ill.), and Rep. Rick Larsen (D-Wash.) as particularly responsible for the language.
No, I read the article and the bill.
https://www.congress.gov/bill/118th-congress/senate-bill/1939/all-info
Sponsor: Cantwell (D)
Cosponsors: Cruz ®, Duckworth (D), and Moran ®
Three of those people have a past of supporting student debt relief legislation at some point, one does not. One actively campaigns against debt relief in public. That is Ted Cruz. I’m not saying he or his aids did it, but I’d probably start there.
Performative bad governance to prove governance as a concept is bad. But yea, republican works too.
Feel free to start, pussy
Since no one apparently read the article, it’s the Democrats doing this.
The Debt Collective named Sen. Chuck Schumer (D-N.Y.), Rep. Hakeem Jeffries (D-N.Y.), Sen. Maria Cantwell (D-Wash.), Sen. Tammy Duckworth (D-Ill.), and Rep. Rick Larsen (D-Wash.) as particularly responsible for the language.
And since no one read the BILL, Ted Cruz is one of the people that cosponsored this. Of the 4 sponsors, Cruz is the only one that is actively campaigning against debt relief. Even Moran, the other Republican cosponsor, has pushed for debt relief for service members.
This smells of classic Cruz. He’s a petty little cunt and would totally sneak something like this into a routine authoritarian bill that no one is proofreading.
https://www.congress.gov/bill/118th-congress/senate-bill/1939/all-info
I’ve said it before and I’ll say it again, vote both of them out.
Ted Cruz ® is a cosponsor, and is the only sponsor that campaigns against student debt relief, and is a weasel that loves to sneak things in when no one is looking.
Yeah, hence why I said both, as in both parties
I probably should have provided context. Of the two Democratic and two Republican sponsors, Cruz ® is the one is actively campaigning against student debt relief in the press.
Also, of the people that voted for tanking Biden’s debt relief plan, only 3 were democrats. Tester, Manchin, and Sinema. The latter two are famously out of step with their party.
All in all, the Democratic Party has a track record of supporting student debt relief, and the Republican Party has a track record of opposing it. Also, of the people sneaking anti debt relief language in this bill, odd are is was the big anti-debt relief tea party republican.
A vote for neither of them is a vote for trump. The two party system needs to be changed.
Which will never happen while we vote for either side
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Repeat after me, “Corporate, America.”
unless they make college free it should be legal
These neoliberal assholes can get all the way fucked
The article doesn’t mention this, but Ted Cruz was a cosponsor. Cruz actively campaigns against debt relief. All the other sponsors have put forth and voted for debt relief in the past.
Anyone want to take bets on shady ass Cruz sneaking this in and the other senators not reviewing what their staffers drafted for a boring ass authorization bill?
This would be classic Cruz. Sneaky, petty, cheap political points, and fucks over people who don’t have money. That’s all like all Ted’s favorite stuff.
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They want indentured servitude. The reason they want to make this illegal is that airlines will have people sign contracts for “free” education in exchange for abusive work commitments. If they forgive student loans, then these airlines can no longer force people to stay in their jobs… also don’t be surprised that it is Democrats writing these laws. Just look at what Biden did when it came to railroad worker unions.
First it will be airlines, then it will be schools trying to force teachers into indentured servitude.
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Biden worked with Sanders and gave the railroad workers everything they asked for
Categorically false. The NLRB worked with the unions to achieve SOME of their completely reasonable asks but not all and nowhere near as much as they could have gotten if Biden hadn’t told Congress to take away their most effective weapon and force them to fight with one hand behind their backs.
It just didn’t make headlines because it happened like a week after the media decided to move onto something else.
It made it into the body of countless propaganda articles giving Biden undue credit for the work of the NLRB and not giving him the blame he’s due for taking away their right to strike, though.
For all his “middle class Joe” posturing, when push comes to shove he’s on the side of the rich people and industries handing out legal bribes to him and his buddies every time.
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These are all lies
Nope, I’ll leave the lies to you
he took away their strike. That was wrong for sure.
Hey, you’re not holding up your part!
in the end they got everything the union had asked for.
There we go.
It’s absolutely valid to complain that he stopped the strike
So you DO care about labor rights?
However, it was made right eventually.
Nope, back to repeating the lies.
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You’re the liar and it seems that people know it. Enjoy your life trying to force your unreasonable black and white views onto everyone. Flexibility and diversity are good things. Not everyone has to see the world exactly as you do. Goodbye forever! :)
But in the end they got everything the union had asked for.
They were fighting for 15 sick days.
https://www.nytimes.com/2022/10/28/business/railroad-workers-strike-threat.html
How many of the rail workers now have 15 sick days?
You’re a fucking liar.
The media doesn’t like to report anything positive because it doesn’t get clicks
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Ah ok my bad. They only got almost everything they asked for. Hopefully the union will continue to negotiate in the future for that sick leave.
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