Biden vetoes measure overturning student loan forgiveness plan
Biden vetoes measure overturning student loan forgiveness plan
President Biden has vetoed a measure that would have overturned his student debt relief plan, leaving the fate of the program in the hands of the Supreme Court. “Congressional Republicans led…
I have no idea why Congressional Republicans wasted their time pushing this forward to Biden's desk when the Supreme Court already has a deadline to issue a ruling on the legality of the plan. If the conservative-leaning justices shoot the plan down, Biden's veto will be entirely pointless.
Also, Biden is either blatantly lying or being very forgetful when he claimed, "I won’t back down on helping hardworking folks" after vetoing this bill. He literally just backed down on the same issue when he gave into Republican demands about student loans on the debt ceiling deal.
You realize what would have happened otherwise, right? Catastrophic debt default and all?
What I realize is that the debt ceiling "crisis" was purely manufactured by Congressional Republicans who wanted to play chicken over the debt default in the hopes of wringing concessions out of the Biden administration. These same Republicans had no problem raising the debt ceiling for Trump; fiscal responsibility only became a sudden concern once Biden was in charge.
If catastrophic debt default happened, it would have squarely been the result of McCarthy's childish brinkmanship. It's also possible that Biden could have used the 14th amendment to avoid default without Congressional approval. Despite this, Biden blinked first and student loan borrowers will literally pay the price. So, as far as I'm concerned, he doesn't have the right to act tough about helping them now.
listen, what are they gonna do if none of us pay
like actually. highly doubt I'm gonna own a home at this point anyways. fuck it we ball
I stopped paying on nearly all my federally-backed loans like 6yrs ago? In that time, I've financed a car at a great interest rate, and I've been able to open credit cards with no issues. My private loans and one federal loan are paid on time all the time, along with car loan, and credit cards.
Of course, the big one would be a mortgage loan. Idk how my defaults would affect trying to apply for a mortgage.
We can hope, but what with the US being a late-stage capitalist hell-pit, I have my doubts that the forgiveness plan will pass.
Best case scenario: inflation spirals out of control so badly that the debt is meaningless.
Now what are the chances it passes the Supreme Court........
About 🤏
What's everyone opinion about taking away the interest as long as someone pays monthly? I believe it could be a good compromise and give a opportunity to pay at least something instead of income Dirven payments which do nothing beside keep stacking the interest.. =\
I mean they would have gotten a lot less push-back on the other side if they had done that.
dont get me wrong, i think forgiveness is great.
But the interest rate alone is just crazy. Your guaranteed to just stay in debt forever. Especially since they wanted at least Bachlor degrees (pre-pandemic anyway) for EVERYTHING. looking on indeed they wanted college degrees for jobs paying $12/hr. Like cmon.... How is someone supposed to pay back a loan of $20k + back at 6.5% interest making such small amounts of money. thats not counting trying to find a place to live on that pay.
They wonder why so many more teens and people in their 20s were living at home still. Too expensive to leave.
I've sadly given up hope that it will pass through the Supreme Court though. I really would love to be surprised, since this plan would help so many people. I felt so crushed when it was paused initially.
I hope that there is no measure overturning the veto to the measure to overturn student loan forgiveness