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Making responsible choices in life means owning up for your expenses and not spending money in a reckless manner. If we reward bad behavior we encourage people to keep doing it. Lots of people put vacations, cars, and time spent in night clubs on their loan balances. They shouldn't have a cent forgiven. They made the choice. They should pay off their debts.
Besides, with modern monetary theorists in charge in both political parties, you can be assured that a decade from now wages will be double, prices will be triple, and debts easier to manage. MMTers like pumping up stonks and though they talk hard on inflation, they want their sky high stock prices so they need QE. Their inflation talk is mostly fluff. You can't have never ending asset price increases without general wage and price inflation. You can't keep piling on the debt and spending money you don't have without inflation to manage the burden of it.
Nice election bump to the dems. We all knew Biden did not have the authority.
If anything, delaying the ruling until after the elections was a bump to the Republicans. A whole lot more people disapproved of the loan forgiveness than approved of it, and it's the Republicans who would benefit from wanting to see the program halted. As long as it hung out there, mocking the people who paid their bills, it could only benefit the GOP.
In any case, I'm really glad to see it struck down. The plan would have been financially disastrous, morally debilitating, and legally indefensible.
2024 should be fun. You think the young voter prevented the red waves in '22 you haven;t seen anything yet. Repubs are done and dusted. They may as well start digging the grave now and just hope for a House win. Because thats all they are getting. In 2 years everything goes back to the dems and in an easy landslide. Its gonna be a complete blowout all across the board
25-30% of them were in default before the pandemic started.
They probably won't pay ever.
A lot of them are "non degreed borrowers"....AKA...dropouts.
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