Joe Biden expected to announce $10,000 student loan forgiveness program Wednesday

[Gunny]

https://www.foxnews.com/politics/bidens-anticipated-loan-forgiveness-projected-to-cost-american-taxpayers-300b

Wonder what's going to be left after two more years of this bullshit.

[BoogyMan]

They are so worried about the mid-terms that this is a blatant attempt to purchase votes. The communist caucus on Twitter is saying the quiet part out loud.

https://twitter.com/ninaturner/status/1562045794877857792?s=21&t=KkzX1X-d9m3UyDnaccUWug

14079

[Black Diamond]

Any chance they give me 10k even though I already paid my loans off?

[fj1200]

Any chance they give me 10k even though I already paid my loans off?

Check your financial-literacy privilege yo. :slap:

[BoogyMan]

Another handout in a long line of handouts that is dropped onto the backs of the American taxpayer.

300 billion dollars *POOF*

[Gunny]

Another handout in a long line of handouts that is dropped onto the backs of the American taxpayer.

300 billion dollars *POOF*Heard a good question today I don't know the answer to: By what authority does Biden do this?

[Black Diamond]

Heard a good question today I don't know the answer to: By what authority does Biden do this?

Could this be an empty promise?

[BoogyMan]

It doesn't really matter at this point because not a single person in authority will challenge or question him. There isn't a spine to be found in DC, and if there was it would either be taxes out of existence or they would break it trying to make it "inclusive."


Heard a good question today I don't know the answer to: By what authority does Biden do this?

[Gunny]

It doesn't really matter at this point because not a single person in authority will challenge or question him. There isn't a spine to be found in DC, and if there was it would either be taxes out of existence or they would break it trying to make it "inclusive."Uh huh. And bet Republican candidates are running as far away from the topic as they can get. Never fails:rolleyes:

[Black Diamond]

It *could * be just the beginning. If they pay off all the student debt, it'll be one more point of contention between millennials and the "old".

[Gunny]

What a crock of shit. All the sheep hear is "freebie". What else do they need to know?

Wonder how many white, middle class folk are going tobe able to get in on it:rolleyes:


The White House (https://www.foxnews.com/category/politics/executive/white-house) on Wednesday declined to say who will be on the hook for a massive $300 billion student loan forgiveness plan announced by President Biden moments earlier.
During a news briefing, White House Press Secretary Karine Jean-Pierre outlined the benefits of the plan but skirted questions about who will pay for it when asked by Fox News correspondent Peter Doocy.
"When you forgive debt, you're not just disappearing debt so who is paying for this?" Doocy asked.


Jean-Pierre replied that once the pause on student loan payments is lifted at the end of 2022, the funds will "offset a lot of what we're doing as well."
"When you think about the $4 billion that's going to go back into, as revenue, back into this process as folks paying their college tuition, that matters as well," she said. "We're doing this in a smart way. We're doing this in a way that's going to be effective."


Doocy further pressed her on who will be on the hook for the tab.
"But somebody's paying for it. Who?" he asked, but received no direct answer.
Biden announced Wednesday (https://www.foxnews.com/politics/biden-student-loan) that he will deliver on a campaign "commitment" to cancel $10,000 of federal student loan debt for certain borrowers making less than $125,000 per year, and up to $20,000 for Pell Grant recipients, while extending the pause on federal student loan payments through the end of the year.
He said during remarks at the White House Wednesday that by resuming student loan payments (https://www.foxnews.com/category/us/education/college) that have been frozen during the COVID pandemic "at the same time as we provided targeted relief," his administration is taking an "economically responsible course."

"As a consequence, about $50 billion a year will start coming back into the Treasury because of the resumption of debt," Biden said, adding that experts "agree that these actions taken together will provide real benefits for families without meaningful effect on inflation."

https://www.foxnews.com/politics/white-house-dodges-direct-questions-pay-for-massive-student-loan-handout

[Black Diamond]

What a crock of shit. All the sheep hear is "freebie". What else do they need to know?

Wonder how many white, middle class folk are going tobe able to get in on it:rolleyes:


https://www.foxnews.com/politics/white-house-dodges-direct-questions-pay-for-massive-student-loan-handout

Of course

[fj1200]

Heard a good question today I don't know the answer to: By what authority does Biden do this?

Dubiousness.


Can a President even do this without the support of Congress?This question has been at the heart of the debt cancellation debate for several years now. After all, any move that essentially requires the government to spend money (or lose it) generally has to go through Congress. Right?

Perhaps anticipating legal pushback, the Biden administration published its legal reasoning (https://www2.ed.gov/policy/gen/leg/foia/secretarys-legal-authority-for-debt-cancellation.pdf?utm_content=&utm_medium=email&utm_name=&utm_source=govdelivery&utm_term=) in a memorandum at the same time it announced the debt cancellation package.
The memo says The HEROES Act, first enacted after the September 11 attacks, gives the Education Secretary the power to grant relief from student loan requirements during specific periods, think: wartime or a national emergency.
As such, the memo argues, "in present circumstances, this authority could be used to effectuate a program of categorical debt cancellation directed at addressing the financial harms caused by the COVID-19 pandemic."
The administration made a similar argument in justifying its renovation of the troubled Public Service Loan Forgiveness (https://www.npr.org/2021/10/06/1043332307/public-service-loan-forgiveness-education-department-overhaul) program.
That said, it's possible, perhaps likely, the move will be challenged in court.
https://www.npr.org/2022/08/24/1118879917/student-loan-forgiveness-biden


I recall a comment about one of the recent SCOTUS rulings that suggested that biden is overreaching and doesn't really have the authority he thinks he might have. No idea which ruling but something like this should start in the Congress.

More:

https://www.cato.org/blog/top-five-reasons-federal-student-debt-cancellation-bad-idea

[Gunny]

Dubiousness.



I recall a comment about one of the recent SCOTUS rulings that suggested that biden is overreaching and doesn't really have the authority he thinks he might have. No idea which ruling but something like this should start in the Congress.

Dubious at best.

Problem is, who wants to be the Republican to challenge with all those votes on the line in a couple of months? Not the Donald. He's too busy taking personal shots at McConnell.

[Black Diamond]

Dubiousness.



I recall a comment about one of the recent SCOTUS rulings that suggested that biden is overreaching and doesn't really have the authority he thinks he might have. No idea which ruling but something like this should start in the Congress.

Yeah I am wondering if this is just Joe saying something he can't deliver on.

[Gunny]

Yeah I am wondering if this is just Joe saying something he can't deliver on.I was thinking more along the line of Joe doing something he has no legal authority to do. Not like it would be a first.

[Black Diamond]

I was thinking more along the line of Joe doing something he has no legal authority to do. Not like it would be a first.

Well there's that. Maybe he needs Clarence Thomas to dunk on his ass again.

[fj1200]

Dubious at best.

Problem is, who wants to be the Republican to challenge with all those votes on the line in a couple of months? Not the Donald. He's too busy taking personal shots at McConnell.


Yeah I am wondering if this is just Joe saying something he can't deliver on.

I'm not sure who would file the lawsuit. Congress maybe?

[Black Diamond]

I'm not sure who would file the lawsuit. Congress maybe?

Then we can count on all millennial student loans being paid off.

[BoogyMan]

Top Five Reasons Federal Student Debt Cancellation Is a Bad Idea (https://www.cato.org/blog/top-five-reasons-federal-student-debt-cancellation-bad-idea)

[Black Diamond]

14081

[Gunny]

It's a shell game. The IRS and whichever states tax income are already licking their chops because the money is going to be counted as taxable income. I've no doubt all the new Gestapo agents will be more than diligent ensure the Cesspool in dc gets its share.

[jimnyc]

They never ever ever want to say the words, admit to who is paying for their freebies and pet projects and monies invested into getting votes - WE the taxpayers pay for it. But look at this twit, no matter how many times asked or in which way - literally cannot simply admit that's who will pay.

---

‘Who Is Paying For This?’: Doocy Hammers Jean-Pierre On Student Loan Forgiveness

Fox News White House correspondent Peter Doocy repeatedly pressed White House press secretary Karine Jean-Pierre on the Biden administration’s plan for student loan forgiveness.

President Joe Biden announced his plan to provide $10,000 in student loan forgiveness to those making $125,000 a year or less and up to $20,000 for Pell Grant recipients. When Doocy questioned Jean-Pierre about how the U.S. can afford this, the press secretary said the nation’s federal deficit has and will continue to drop.

“And you might spend $300 to $900 billion extra, so you can do that and not increase the deficit?” Doocy asked.

“Here’s the thing. What we are trying to do here, we are doing this responsibly. You heard directly from the president. This is something that is going to be important for middle class Americans when you think about 90% of the folks who are going to actually benefit from this are making $75,000 or less. And you think about what Republicans did just a couple of years ago, they signed off on a $2 trillion tax cut for the wealthy and did not provide any way to pay for that.”

“Who is paying for this? But you’re talking a lot about how much it might cost or might not cost,” Doocy asked. “Who is paying for this?”

The press secretary touted the work of Democrats in Congress and the Biden administration to reduce the deficit and allow the federal government to provide for the middle class.

“But when you forgive debt, you’re not just disappearing debt, so who is paying for this?” Doocy interjected.

Rest - https://dailycaller.com/2022/08/24/doocy-jean-pierre-student-loan-forgiveness-biden-pell-grant/

[Gunny]

They never ever ever want to say the words, admit to who is paying for their freebies and pet projects and monies invested into getting votes - WE the taxpayers pay for it. But look at this twit, no matter how many times asked or in which way - literally cannot simply admit that's who will pay.

---

‘Who Is Paying For This?’: Doocy Hammers Jean-Pierre On Student Loan Forgiveness

Fox News White House correspondent Peter Doocy repeatedly pressed White House press secretary Karine Jean-Pierre on the Biden administration’s plan for student loan forgiveness.

President Joe Biden announced his plan to provide $10,000 in student loan forgiveness to those making $125,000 a year or less and up to $20,000 for Pell Grant recipients. When Doocy questioned Jean-Pierre about how the U.S. can afford this, the press secretary said the nation’s federal deficit has and will continue to drop.

“And you might spend $300 to $900 billion extra, so you can do that and not increase the deficit?” Doocy asked.

“Here’s the thing. What we are trying to do here, we are doing this responsibly. You heard directly from the president. This is something that is going to be important for middle class Americans when you think about 90% of the folks who are going to actually benefit from this are making $75,000 or less. And you think about what Republicans did just a couple of years ago, they signed off on a $2 trillion tax cut for the wealthy and did not provide any way to pay for that.”

“Who is paying for this? But you’re talking a lot about how much it might cost or might not cost,” Doocy asked. “Who is paying for this?”

The press secretary touted the work of Democrats in Congress and the Biden administration to reduce the deficit and allow the federal government to provide for the middle class.

“But when you forgive debt, you’re not just disappearing debt, so who is paying for this?” Doocy interjected.

Rest - https://dailycaller.com/2022/08/24/doocy-jean-pierre-student-loan-forgiveness-biden-pell-grant/Yep. Important for middle class Americans :rolleyes: What have I not already had to cut back on due to Bidenomics that I can cut to pay this as well? It's "important" as yet another example of the Dem's war against the middle class. They need to whittle us down to them, and those they control completely.

This BS does not address the cost of tuition which goes to the heart of the problem. That would require confronting "higher, woke alleg-ication".

Nothing more than a feel good moment pandering for midterm votes. The worst part is, people are buying this shit without one second of thought towards the inevitable. The poor and what's left of the middle class will foot this bill as we will foot the bill for everything this Admin had "done for the People":rolleyes:

[BoogyMan]

The elephant in the room is that Joe Biden just bought votes for the mid-terms and the FEC sits idly by and ignores what was done. This is a transparent and disgusting action that has been undertaken with the taxpaying public's dollars.

If a Republican had done such a thing, wouldn't happen and I know that, but if one had the FEC and the media would destroy them.

Our country is screwed.

[jimnyc]

The elephant in the room is that Joe Biden just bought votes for the mid-terms and the FEC sits idly by and ignores what was done. This is a transparent and disgusting action that has been undertaken with the taxpaying public's dollars.

If a Republican had done such a thing, wouldn't happen and I know that, but if one had the FEC and the media would destroy them.

Our country is screwed.

And the part that pisses me off are the nitwits that will vote for him being too delusional to know they were played for power. But they don't give a shit, someone else is now paying for their debt.