Biden Ponders Student Loan Forgiveness of $1.6 Trillion – IOTW Report

Biden Ponders Student Loan Forgiveness of $1.6 Trillion

UK Daily Mail

Joe Biden is considering reneging on a campaign promise to cancel limited amounts of student debt, and is now mulling far more substantial coverage of the $1.6trillion in debt owed by 43,000 people.  

Biden alluded to his plan during a meeting on Monday with the Congressional Hispanic Caucus, where he told Rep. Tony Cardenas, a California Democrat, that he had plans that would please the group.

The president previously supported canceling up to $10,000 of debt per student, but is now said to be open to forgiving a larger – if unspecified amount. More

19 Comments on Biden Ponders Student Loan Forgiveness of $1.6 Trillion

  1. I think he should do it. Then all the car loans. Then all the mortgages. It can easily be paid for by just adding one(OK, maybe two) zeros to the right side of the total dollar amount of money the government has. After all, zeros are “nothing”, so it won’t cost anyone anything and think of how the economy will be stimulated! I’d say that’s a win/win for us all!

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  2. If you know anyone with student loan debt who is joyful about this just tell them that they will still be paying for it one way or another (increased taxes and inflation) for their entire lifetime.

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  3. These dimwits really do not understand economic, money, finance so they? Just because you can wave your pen around doesn’t mean you can make money disappear!

    Here’s an idea: take all the useless degrees and repay the banks from the various colleges’ endowment funds.

    And, when you’re in a hole first stop digging. Any and all of these non-vocational degrees need to be blacklisted from future college grant and loan programs. If it’s not useful TODAY, it goes away!

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  4. Not a bad guess Jellybean. And if this isn’t the most blatant vote buying scheme of all time I don’t know what it is. Not even subtle. It makes marijuana legalization look like child’s play.

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  5. Anything that FYB can dream up to completely destroy this country, he will happily do it in a heartbeat…without any sense of remorse. But, rather a warm and proud sense of accomplishment of a great president.

    Some call this Treason. And, NO One has made a single known attempt to stop him.

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  6. “Loan forgiveness” my ass. It’s shifting the debt from the people who incurred it to the US taxpayer. It’s buying votes with other people’s money.

    Fuck All Democrats. They are scum.

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  7. We have lib Tard living next door with kids in collage right now, Duke, Oberlin, and some school in the mid west, this will net them over at least
    $ 600,000 dollars in fees that will make them very happy.
    Think I like them.
    They vote just like you think they would and wonder why things don’t change.

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  8. Geoff C.
    It’s amazing how stupid people are. Obviously banks will take the hit right? Fuck no, you and I will pay for it in Tax Hikes. Mean while Newsom has decided Californians don’t pay enough in gas taxes and hiked them another 3 cents. Why? To many electric cars. Not enough people buying gas.

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