MortyMaxwell
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Aug 25, 2022 6:00 AM
MortyMaxwell
75367
951
50
Mikanojo
If the govt. covered k-12 + 4 years secondary education, there would be no more predatory loans.
Baggsy13
Hey, they're giving away free stuff! I want some! No, me me! - It ain't free, any of it.
MyriaORiely
He'll do it again, just before the 2024 elections, probably the same amount, maybe a little more.
justlookingatthepicturesokay
you all better vote. municipal, state, federal.
ImmaCatImmaSexyCat
Socialism is what the rich give to each other. Capitalism is what the rich force on everyone else.
hfctom
Mitt Romney bailout https://www.rollingstone.com/politics/politics-news/the-federal-bailout-that-saved-mitt-romney-182795/
drinkthederpentine
Just a coincidence this is occurring just ahead of the midterm elections
ManglerOne
1 of 2 Cruise lines didn't get a bailout... The FED changed some rules so it was easier for MANY businesses to get loans...
ImaginaryMamboNumber5
The PPP loan forgiveness figures alone are mind boggling. Straight up theft in many cases.
Ceistebi
Some of the banks from the 2008 bailout have at least paid the loans back https://money.cnn.com/news/specials/storysupplement/bankbailout/
Ceistebi
Not arguing against OP, but just incase people didn't know, there are some banks who did actually pay them back, unlike a lot of PPP loans
dohcohv
The auto industry paid theirs back, Ford didn't take loans either.
simplefishy
Bailouts for me not for thee- bunch of condescending arseholes
cepacolusmaximus
The hypocrisy is the point. It's how they signal who's "in" and, well, everybody else.
XXXSpork
Anything the dems do will be attacked regardless of it’s benefit
BronkLuonk
Actually dick durbin is leading bipartisan legislation to allow discharging student debt through bankruptcy. That would be much better imo
XXXSpork
Having a bankruptcy on your credit for 10 years seems extreme considering PPP forgiveness
Shaodyn
They might as well say "Helping the poor is against everything we stand for."
Predicto
I hate to be pedantic but the 2008 bank bailout was not a "bailout." It was a short term infusion of cash to avoid a liquidity crisis and
Predicto
it was all paid back with interest. If we hadn't done it, we would have launched into a second Great Depression. All the other examples in
Predicto
the cartoon are absolutely correct, and the underlying moral point is correct too.
AxelBeingCivil
Student debt forgiveness is terrifying to Republican politicians because it's flawless asymmetric warfare. It's a program that the Dems (1)
drinkthederpentine
Pure coincidence it's happening right before midterm elections
drinkthederpentine
/s
AxelBeingCivil
can make exclusive claim to enacting, it's immensely popular, it's directly beneficial, and there's no hiding it, since everyone who (2)
AxelBeingCivil
receives it knows it. You just... Can't spin that to be a negative! It'd be like trying to negatively spin the child tax credit. (3)
BronkLuonk
You can definitely spin it as a negative
AxelBeingCivil
You can try. You'll fail. There's 45 million Americans with student debt who are about to receive a 10,000 dollar gift from the feds, (1)
AxelBeingCivil
or just under 20% of the voting age population, who are going to receive inarguable proof of what the state can do when it actually (2)
welluhwhatdoyouwantmetosay
Cruiseline bailout was the worst. None of them are flagged in the US.
hipshopbutcanthap
Eh. Catholic churches got somewhere in the 3.5b area but yeah, close second I'd say
StanielRonathan
And it's by and large a luxury industry
SteamingTheCat
We actually approved that? I thought Cruise lines were denied for exactly that reason.
welluhwhatdoyouwantmetosay
Yeah, no direct bailout. Fed gave them low-interest loans. https://www.wsj.com/articles/how-fed-intervention-saved-carnival-11587920400
MisterLemons
But a loan needs to be paid back, no? They're not getting freebies, they're getting a loan.
welluhwhatdoyouwantmetosay
They got loans at below what the market would give them.
OriginalAndWitty
Now can we ask why college costs so much to begin with? Cuz we'll be right back where we started in 10 years if that's not addressed.
WoodfolkFae
isn't it mostly profits and unregulated prices?
drinkthederpentine
Absolutely not. Wildly increased administrator driven costs
WoodfolkFae
So you're saying schools without any funds and have little profit just cost that much?
tounushi
"why college costs so much to begin with" Administrative bloat.
paladindansesgirlfriend
Yep, they have no incentive to cut costs - here in Michigan they can’t increase tuition more than 8.5% annually or lose state funding
NeedHelpwithresume89
This... everyone is fighting over the symptoms. Loan forgiveness for set a group of people ks not going to resolve the over arching problem
basiccricket8444
Some of that is included in the plan as well, though not a comprehensive solution
PoliticalWanderer
1) I think it's mostly a combination of population growth, that we a much higher % going to college than used to, and because we cut taxes
PoliticalWanderer
2) which meant we had to cut school funding, and then we cut taxes again so we had to cut school funding again... (rinse and repeat)
LoudOllieWilliams
Partly because of federally guaranteed student loans.
basiccricket8444
Partly because states stopped funding schools
BronkLuonk
Lol at partly. They would literally give a loan to a turnip if they could. They don't lose if you don't get a job to pay back the loan.
houpbajoup
How did the debt relief actually work? Is the govt paying $10k per loan to the lenders, or are they telling the lenders to eat $10k of debt?
BronkLuonk
They are paying off the loan which goes to the school.
Mickp81
Don’t the schools already have their money? Like on a car loan, I borrow from the bank, the bank gives the money to the dealer.
Edowyth
Yes. Taxes will be used to pay off the loans to the lenders (typically banks) like Sallie Mae (which has split to be Navient and AidVantage)
BronkLuonk
Oh yeah you're right they do already have the money
PoliticalWanderer
How many of these people are raging about student debt forgiveness?
crazycelt
What is the source please?
PoliticalWanderer
1) I don't know who put the infographic together, but with a little bit of legwork you can verify it. I did for two. The following link can
PoliticalWanderer
2) used to see who got PPP loans and what the status is: https://projects.propublica.org/coronavirus/bailouts/
PoliticalWanderer
3) Then do some googling about businesses that candidates own. Maybe on their website
PoliticalWanderer
4) or wiki page it might be listed.
Billis75
They can rage about it because the people who want to be mad at students don't care about intellectual honesty.
PutItInNeutral
Everyone on that list is raging. That's why they are on that list. Nobody minding their own business is on that list.
KazabWebShaper
Hold up those where forgiven?
SirBillington
Where have you been?
DucksDontBackDown
Oh yeah those numbers aren’t even as bad look up what some celebrities got forgiven.
filben7
Yeah, they cancelled all outstanding PPP loans(almost $1tril) a few months back, barely made the news... magic that.
Rip42
It was in the original bill, it made the news at the time the bill passed.
filben7
I am more enraged they even qualified for PPP loans in the first place.
daromander
Yeah, I don't really understand it. Their paychecks didn't change
IIikethecutofyourjib
Owners are capped at 20,833. These are for their employees. But they only had to spend 60% of the loan on actual payroll (gross, healthcare,
IIikethecutofyourjib
Retirement, S&L taxes) and just have regular expenses for the rest (rent, utilities, leases etc) but yeah...fuck them. I hate hypocrites
daromander
But they paid for all those things before with their same salary