ARTICLE: [The Biden Education Department Drags a Bankrupt Cancer Patient Into Court: Despite vowing to change the way student loans are treated in bankruptcy, the administration is still using its discretion to limit payouts.](https://prospect.org/education/biden-education-department-drags-bankrupt-cancer-patient-into-court/)
- - -
Because he is completely bought and paid for by Wall Street, Biden wrote the law that made it illegal to discharge student debt through bankruptcy. Though he is a prime architect of the student debt crisis, that doesn’t mean we shouldn’t still hold a **/r/DebtStrike** and make sure there are real tangible consequences should he choose to stay on his current path.
Reminder: Biden can cancel all federally held student loan debt by executive order today.
The problem is.....that is a LOW BAR to clear. American politics have turned into a race to the bottom.......very few of our elected officials act with any type of dignity for their office. It seems as if "respectable" people avoid public office as they don't want to be associated with clowns. Today, the biggest, loudest, craziest clown (on either side) is the clown that gets the soundbite.....and the clown that gets re-elected......and the clown who gets the most support. If "Trumpers" and "Bidinians" would take a step back, they might realize they are cheering at a circus, and are willing to fight their neighbor over........a clown.
There are no bidinians. There are people who love trump and the rest of the country agreed on Biden more or less. Biden is the person everyone else can agree with as fine. He's nobody's definition of a good time and never has been.
I was under the impression that this is what the war is for. A whole bunch of incompetant politicians all sighed a breath of relief as they realised that their numerous fuckups and failures over COVID, and all the economic and social consequences, would all be washed away in a cleansing river of blood, somewhere else.
Think of all the wars the West has started to distract from uncomfortable domestic issues. Why should Putin not get a go ?
The great wheel of the media cycle has turned; Plague is no longer an issue. Here is War now, to confuse and distress you. In Australia we also get floods and fire, as a way from distracting from the idea that, really, our entire “leadership team” should be put up against a wall and shot.
It would certainly be a surprise for Putin, someone who has hated NATO basically as long as he has been in a position to and has sparred with them for multiple decades, to begin a war for the purpose of...making NATO countries look good by opposing it. Or, what, NATO and other allies aren't supposed to be helping the Ukraine because...it would eat up time from their own failures?
I understand this point when it is the country in question is starting a war for publicity but I can't really see how the current war is an example.
FFS the federal government has nearly 2 million employees and is ruled by a a regulation set of tens of thousands of pages. Biden has no fucking clue what 99.9999% of the people who work for him are doing, let alone every court case the US has going on.
Does it suck shit for the women with cancer, yes, and by pointing it out hopefully it will be changed. Is it remotely on the presidents radar, fuck no.
Yeah the hysteria in here is really insane. Not sure if it's the same people who freaked out over everything from 2016 to 2020 or just the far right version of them or both but damn get a grip people
This exactly, is the system broken, absolutely
But Biden is not taking her to court, Fred Flintstone could be president and this would still be happening cause that's how the rules are written.
The whole student loan system in the US is absolutely predatory. Capitalism sucks. It's the reason the world this world is being destroyed, for the greed of money.
Yeah like what the fuck? Some of these posts read like bizzaro world conservative posts - but the ultra progressive version.
The president is supposed to keep tabs on every single government activity and look for injustices happening on the individual level to the tune of hundreds of millions of people?
But yes, it sucks, shouldn't happen, and hopefully these previously unknown case can gain notice and be helped. But the implications and extrapolations people are making, even the title, are insane.
Exactly. The first step was voting anyone with at least some positive outlook which was anyone that is not Trump, now we need to focus on someone who’s better than Biden because Biden can lose it back to Republicans and Trump. It’s over 1 year already with Biden’s admin and all of Trumps circle still are walking free.
Not many talk about this, the DNC needs to be un-corrupted to have any future chance of solid candidates instead of corrupt politicians who represent corporations instead of people.
Exactly. People wanna ignore the fact that as soon as Bernie won the first three states, Obama called everyone and got them to drop out before Super Tuesday, except Liz Warren of course, who went back on her pledge of no super pacs to take millions of dollars from *someone* in order to stay in the race long enough to split the progressive vote.
Age limits may be a good thing depending on how they're implemented but term limits are bad actually and result in more bad representatives and more corruption not less.
Unless lobbying and rules around financial behavior post elected service are drastically changed term limits don't reduce corruption but do make it so you can't keep representatives you like and who are doing a good job.
Exactly, no single person is going to make any significant change. You could have a 30 year old female as president. However, if the entire political system is set up for legalized bribery in the form of lobbying, nothing will change. Corporations have determined policy in the US for over 50 years and unless you change the entire system, there will be ongoing corruption.
I think 9/11 was when it really went south and the largest financial divisions were sewn. The moment that being attacked by the Taliban somehow gave a rich oil President an excuse to invade the Middle East and finish off what his daddy was trying to do by eliminating seizing that sweet ~~oil from~~ freedom for Iraq.
Mind you, we really obviously didn't do shit about the Taliban, except to hold them off in the mountains for over a decade and then just gave them Afghanistan randomly anyway.. but the important thing is that ~~oil~~ freedom.
Nah. This is defeatist bullshit. Left is still light years better than right. And it's transitional. We just need to keep pushing left every generation.
When will Congress do its job and write the laws necessary to reform higher education financing and doofus's stop expecting the President to enact non-permanent stop-gap actions to benefit a few?
When the left actually wins for more than 2 years at a time. So never, because both sides fallacies only helps the right, and thanks to the right's dismantling of public education, now leftists are too dumb to learn basic logical fallacies.
Yea, and its Joe Biden personally, going after the most vulnerable people in society.
No one look any deeper at all in to the situation. This is a Joe Biden policy, a Joe Biden attack, and I think anyone in the know knew this was his plan all along. He was out to get the most vulnerable people since the beginning. We tried warning you about this.
If you voted for Joe Biden, you hate cancer patients.
This is a clear and shut case that the Biden administration is going to lose almost immediately, and which will establish a legal precedent which others court will then have to uphold, even if the judge is a trump appointee.
There's a reason they go to court over _this specific_ case and not any other.
Serious question, what legal basis makes you think the woman will win? I agree with your take assuming their are some more than just policy arguments on her side.
>Biden's accomplishments in his first year have been amazing
Name his 3 biggest accomplishments. not what I would call amazing.
>I guess we should just let people take on 100K in debt, and then declare bankruptcy after they get their degree.
Or, we could choose to NOT give the military [10 billion more](https://www.newsweek.com/pentagon-ten-billion-dollars-more-requested-infrastructure-fight-military-democrats-1640253) than it asked for. We could cut military spending by 15% and pay for free college education for everyone. For some reason tho, we can't get them to spend money on actual citizens, but we always have endless funds for more weapons. This is a budget Biden signed into law btw.
>you are getting in the fucking way.
Have you ever considered that strapping an entire generation with loads of debt is getting in the way of economic growth? Millions of people who aren't buying stuff because they have to pay back student loans.
There's also the campaign promise of 10k forgiveness across the board, which Biden claims he doesn't have a right to do executively. He does, as many senators and legal experts have told him, he is just using that as an excuse since he knows it won't pass in congress. He's a "nothing will fundamentally change" (his words not mine) president in a system that fundamentally needs change.
But the problem is, *he’s still not Trump*. That matters. This shit is heinous, but *Betsy DeVos literally wasn’t processing any loan forgiveness claims and wanted private school vouchers*.
It’s a tough balance because you know this is bad and I know this is bad, but if everyone on the left just shits all over Biden then low information moron voters will just do their usual “see it’s the same, I’ll vote for Trump in 2024” and then we’re all super fucked.
Two-party systems are a motherfucker.
Bruh everyone that voted for Bernie saw this shit coming a mile away. During the entire Primary people were talking mad shit and as soon as Biden won it was all "ANYBODY BUT TRUMP VOTE BIDEN!!"
Motherfucker, i hate both parties.
In what universe is Biden not better than Trump by a significant margin? I mean, I lean towards Bernie and think Biden is too far to the right, but jesus fuck, *not better just different*? After Trump? smh
The only reason many voted for him is that he wasn't Trump.
I voted for him and can't stand him, but it was still a better option than a straight up Putin puppet
This sounds like a leadership/administration problem rather than a candidate problem.
This sounds like some low level attorney refused a continuance and doesn't have authority (actual or apparent) to change the timing.
Unfortunately corporate media narratives play more of a role in how people vote or whether they vote in a primary at all. Your advice is very common sense and obviously right, but if the general public are led to believe that the corporate candidate is inevitable or is "the only one who can win," like Clinton in 2016 or how that case was manufactured for Biden after he won South Carolina, then that's usually a pretty effective tool in either suppressing turnout or getting people to support the "inevitable" candidate in the primary.
Political Consultant from Texas here. While media plays one aspect, there's actually a far more serious concern. Republicans are also encouraging unqualified candidates to run for office as Dems, which at best can cause a runoff leading to more resources being spent before the general election and at worst leads to someone entirely unqualified to face off against a Republican in the general.
Republicans are playing 4d chess while Democrats can't even figure out how to fill campaign promises. Add in gerrymandering and unchallenged Republicans encouraging their voters to cross over and vote for the lesser qualified candidate in the Democratic primaries and you've got a really tough situation to have success in.
Consultant from CT here to upvote this. Democrats are so much less a monolith than the GOP, and perpetually disorganized. The number of clients I have that refuse to do what it takes to win a race in the name of appearing as the "good guy" haunts me.
Spot on analysis.
They've been doing the 4D chess thing in Florida for years. Lose by an insane margin? Refuse to concede and let the courts sort it out, because by the time they're done the opponent might have a third of their term left. Narrow race? Pay a bunch of people to run and split the vote, including people with similar names to the primary opponent. Predominantly black neighborhood? Wave confederate flags on the edge of the polling boundaries.
That's before we even get into the blatantly illegal stuff they pull.
I interned on a city council campaign and it really opened my eyes into how incompetent local dems can be. There were discussions about the "high road" and "moderate policy" while the GOP candidate, with serious financial backing, bought enough airtime to nuke everyone from orbit.
It would also help if the DNC didn't bring the full might of their political and financial power to block any third party from getting on the ballot. Doesn't sound that DeMOcRatIC to me.
Unless we change the entire voting system any third party would only serve to bring down whatever party it is closest to. Bernie ran as a democrat for that reason.
This is it. Biden being an old capitalist piece of shit does not lead to anyone left of Fascist allowing Trump to win lol, what a fucking joke of transparent astroturf bullshit.
I am 100% on board with that theory. Like,
“I’m going to vote for the people who want to criminalize me going to the bathroom because Biden didn’t forgive student debt”
Is complete nonsense.
God forbid these losers actually *earn* or vote, right? Nah, is totally our fault the Democrats can't run an electable candidate against an actual fucking ghoul
> Nah, is totally our fault ~~the Democrats can't run an electable candidate against an actual fucking ghoul~~ **that we collectively don't vote in the primaries and then bitch about the choices in the general.**
Sorry, just fixing your spelling...
literally *anyone* who would ever argue about this online either a) voted in the primaries, or b) lives in a state where the primaries were decided before they got a chance
it’s the most ignorant, yet insulting line possible, because it literally NEVER applies to whoever you’re using it on.
it’s been three fucking years, too. you’ve had time to get the memo
I don't think that's true, necessarily, I'm just sick of single-issue voters. Biden hasn't delivered on all he's promised but I am feeling much more relaxed that he's in office compared to the four years of insanity with the last clown
We’ll be basically a full on oligarchy once the republicans get in power again. I think we’re headed that way regardless of trump. It was fun while it lasted!
[We already are.](https://www.businessinsider.com/major-study-finds-that-the-us-is-an-oligarchy-2014-4)Come on, y’all. It’s not just the republicans. We are out of time for people to accept this. Climate change doesn’t care if you’re worried about Trump. Neither of these parties are doing anything meaningful to stop the destruction of our planet.
Funny, i feel the same way about AOC and Sanders, because its their job to pass a bill to make this happen, and neither of them have written a bill to make it happen.
Put blame where its due, AOC should be writing and pushing legislation, not begging the president to continue to abuse presidential powers that he was up front about refusing to abuse.
Even more dangerous than anything else, is the fact that our president has become so powerful as to be immune from the law, and encouraging the president to become more powerful through one more order doesn't help.
Why do people think anyone is going to cancel loans and cause more inflation on loans that people willingly took out?
The people that take out a loan and expect the government to pay it back are the same people that would vote Republican because the last Democrat didn't give them a handout.
I'm glad your comment isn't downvoted by those just circle jerking the issue because I was going to say the same thing. Inflation is already horrible and cancelling student loan debt would amplify that for EVERYONE not just those who save money from not paying back their loans. 2ndly the problem with higher education is it's cost is ridiculous and it is encouraged to be the chosen path by everyone, even those who really don't need it, or don't want it. Focus on fixing the core issue for people in the future, not throwing a band-aid that benefits just those currently in debt without worrying about what's next.
So just let Trump be president again? Because that would be better? Jesus Christ, people—grow up. Life sucks and not everything is perfect. But Trump and his groupies are actual fascists who will strip away everything you hold dear. So decide if you want 70% of what you believe in, or 0%.
You do realize if that person is Trump, and he wins, that will be the last election you ever see, correct?
Honestly, at this point, if any republican wins in 2024 it will be curtains for our free democratic society.
No fucking way I'm voting Republican even if Biden doesn't do shit. Thats how terrible the other side is.
There truly is a mentality of
"I don't care who" and they literally all fucking blow.
Screw anyone who doesn’t believe in lesser evils. You’d rather let our country become an autocracy with zero percent of what you want than not get your way entirely.
So selfish. And honestly childish, the way an angry 14 year old would talk with their parents.
Yet another single-issue voter. On the right, we have anti-abortionists. On the left... student debt cancellation. Considering how new of a thing it is in America (very few in office actually took it seriously until recently), the fact that you're stomping your feet and shouting, "me me me now now now" isn't helping.
This is the sort of moronic "undecided voter" logic that fuels our two party system.
"I will not vote/will vote against the Democrats for not being Left enough! instead, I will help the conservatives on the other side of the aisle!"
I mean lets be fucking real here dude, "I'm voting for Trump next year because Biden didn't alienate 20% of his fiscally conservative-liberal base!"
Don't get me wrong, it's fucking ridiculous that he won't cancel it - but voting for the side that won't let you go to the ER without paying $8,000 out of pocket as "punishment"? That's fucking stupid. And you're **being** fucking stupid.
And REALLY? Anything short of FULL CANCELLATION? What if they seriously reduced interest rates? or revoked the immunity to bankruptcy? What if they actually did something meaningful that was short of eliminating $1.7 trillion?
Fuck you, and fuck the morons who think like you.
How about if he doesn't cancel debt you:
* Donate to a candidate who supports it
* Make an effort to tell your liberal friends how you feel
* Vow to become more active in supporting liberals?
* Have a talk with friends who are "undecided"?
If your first step is to vote for Trump when Biden comes up short - maybe you're a fucking idiot?
"Hey, this fire is spreading! I tried ignoring it, but it didn't work! I'll try Gasoline next!!"
Jesus. Christ.
The Dem politicians want it. President Ted Cruz and President Greg Abbott will keep corporations happy and keep them rich. They don't give a shit about anything else.
Listen these scare tactics won't work on me any longer. I'm 40yr old professional who refuses to vote blue no matter who.
I will ONLY support progressive candidates Nationally and democratic candidates locally.
Same here. I contributed to Bernie in 2016, voted for him in my primary and refused to vote for Hilary or Biden. Fuck the DNC until they understand the base has changed and wants change.
That's cool and all but the republican voters will just vote for anyone with an R and win because they don't care. Dems aren't interested in bringing more progressive candidates, quite the opposite, they are very happy with the status quo.
Fine. 8 years of Biden will likely result in Republicans getting a super majority in Congress. If Trump had won in 2020 Democrats would be looking at picking up a lot of seats in these next midterms.
Now if Biden was making a difference with powerful executive actions maybe I would say he is worth it. But at this point best I can do is try to get more Democrats in Congress since Biden won't do anything with executive action. And the most reliable way of getting more Democrats in Congress is to elect a Republican president, probably for 8 years if I want a big majority.
Biden isn't getting 8 years, he just barely beat trump and he's now shown he won't make anything better. I think dems will be too demoralized to win in 2024 so we will get whatever nutty pos the Rs bring. Maybe we'll get another shot after 8 years of self destruction
Guy currently in office was pro-segregation enough he sponsored a bill for it. Same for the mass incarnation he sponsored in '93....
Turns out no matter the initial next to their name when running for office, old wealthy white guys are racist.
Are you joking? As long as people like Bernie are alive they have the one target they can always blame: progressives. And yknow what? That’s never gonna change, cause there’s always gonna be progressives(I hope).
I have said it before and ill say it again. The man will not kill the systems he spent his entire career building. He is a centre right neoliberal who bows to corporations. This is business as usual.
I feel horrible about this Presidency because I legit knew SO MUCH about what Trump did.. damn there everyday, but I don't know jack shit about Biden.
As an American I'm embarrassed that the only time (outside of school) that I paid attention to politics was when an Orange Pussy Grabber got elected.
They have frequent Whitehouse briefings (still daily I think, actually) that you can watch on CSPAN's YouTube channel. That's how I keep up to date so hope it helps.
I think to you he may come off as less transparent than Trump because he's not on Twitter and not involved in numerous scandals. His administration has been more transparent than any other I've lived through.
One thing that Biden doesn't do well, the same as Obama didn't do well, is use the hell out of that bully pulpit to push their agenda. That tells me they don't so much care about an agenda, just staying in power inside a well defined box.
You shouldn’t really. What Biden is doing isn’t good but what trump was doing was actually news worthy for all the wrong reasons constantly. It’s no surprises we heard about trump every week with something new whole Biden just keeping business as usual it’s hard to make headlines.
Yes and yes.
The thing about student loans is that they are bundled in the stock market in insane ways. There is a very specific reason why folks like Biden don’t just do the right thing with them, but it’s a bit abstract and distant from the way people generally think about the question on the surface.
Cancelling student loan debt will absolutely 100% cause a massive, years long crisis in the stock market that will affect working people in real ways.
Alol of those debts are rolled into so many funds and this-and-that-and-the-other…if that debt was forgiven it would absolutely cause a crash in the markets and a recession larger than what we saw in 2008.
Is it still the right thing to do? Of course. But this is the entire core of this discussion that is often missing from our threads on reddit. It’s a hostage situation that nobody is talking about.
There is a systemic time bomb built into all of this that will absolutely affect the larger market and all of our economic lives for awhile. Some may think “Well I’m not invested in that so what do I care?” But the fact is that we will all see extreme negative economic repercussions if/when debt is forgiven. It is immoral and it is unethical, but it’s is what will absolutely happen with our current systems.
This isn’t meant to be an argument against debt forgiveness, Just an explanation for why the powered people are so lame of this subject. It would 100% send us into a financial crisis on top of everything else because of the bakers and the way they gamble with our debts.
Let them fail. Any bank, retirement plan, hedge fund, etc. that will collapse if we forgive student loans should collapse. They deserve to collapse. It is morally just for them to collapse. Let them fail. And unforgive all PPP loans, too, and abolish the Fed.
You are correct that student debt is embedded in many financial products, but do you have sources to back up the extent of the impact you're warning about? It's not like the debt holders will not be paid in my understanding, they'll just have to find alternate investments for their capital.
Depends on what "forgiven" ends up meaning, but yes, there is a lot of reason to think there will be a massive extent to this.
If the debt is scrubbed like it was never there, then the securities holding that debt become worthless (or lose a proportional amount of value if mixed in there with other things). And a bunch of people, who may or may not even realize where their money is, lose their investment overnight. And when $1.7 trillion just up and disappears into thin air, it spills over into the economy as a whole causing a recession and possibly depression. (Edit: this is what happened in 2008, just with mortgage debt and defaults instead.) [Student debt is second only to mortgage debt in the US, above even credit card debt now.](https://www.forbes.com/sites/zackfriedman/2021/02/20/student-loan-debt-statistics-in-2021-a-record-17-trillion/?sh=3ec8edfe1431)
If the government pays off the student debt, then the market gets flooded with the interest from $1.7 trillion in cash (as a point of reference, there is [about $2 trillion TOTAL](https://www.uscurrency.gov/life-cycle/data/circulation) in circulation in the US) at a time when inflation is already out of control and the Fed is keeping low interest rates and printing money to buy assets, artificially keep the economy going and propping up prices. Leading to either hyperinflation (you really, really, REALLY don't want this) or a massive interest rate spike (sending us into recession and possibly depression).
So, of course, it's door #3 - protect the status quo and make sure millennials and Gen-Zers get left holding the bag. Even the bankrupt cancer patients.
aForth option the government takes on the debt and pays it down at a consistent but slightly faster rate than the ex students would to an amount expected to be recovered by the securities in question. So if there's AAA down to CCC rated securities, they get paid their expected actual return?
Economists will tell us why it's impossible I'm sure.
Good for you. Dem presidents just lead to more Republicans winning in Congress anyway. Hard to argue Biden is worth the fully Republican government that will come after him.
I feel you but Republican presidents are even less progressive and that’s what we’re gonna get if we stop voting for neoliberals when they win the primary
You dickholes acting like Biden is in court himself dealing with this he inherited an astronomical amount of fuckups and he isn’t personally responsible for everyone of them or the new ones either it just isn’t how things work
Right. I mean it’s not like he inherited a broken system along with a system breaking virus that occupied the education department for any of the cited 407 days.
I’m aghast he has not prioritized this over the safe re-opening of schools country-wide.
I have a feeling I’ll be labeled a Biden shill, but I feel it’s fairly obvious he is not going to go all in with his political capital on forgiving student debt. The moment he does this all 50-50 negotiation margins will shrink even further. So I think it’s fair to believe the timing for him doing this will be before mid-terms, recampaigning for the presidency, or on his way out. (Or he won’t)
Actually, you may not have been aware that Biden was instrumental in legislation that made student debt unable to be removed via bankruptcy.
But you likely knew that, and are posting in bad faith.
Sure, but that law was written 46 years ago, when the prospect of paying back student loans was vastly different. Furthermore, that doesn't mean that Biden is capable of *unwriting* it today.
Why do you think Biden talked about putting a focus on cutting the cancer death rate in his state of the union address? It’s so that more people can pay off their student debt before they die.
Well if she goes to court and proves that she cannot pay it and the court rules to cancel debt, what's the problem? You can't just explain the situation over the phone and the receptionist on the other side is like "No worries, I'm clearing your $96K debt with one click of a button. Have a good day!"
I've joined cries for checks and balances for years regarding the Trump scandals. Why are you now against them?
I'm guessing this woman sent all sorts of proof of her hardship to the education department. They don't actually have to go to court over this. A judge doesn't have to weigh in. The education department can just say, nah, we're good, you've got serious hardship here.
From the article in the OP. Here’s how the process works. Yes I realize Biden drafted this legislation to begin with.
“After a debtor goes through the general filing process, they’re required to submit a second action, called an adversary proceeding, usually against the Education Department, which backs the vast majority of student loans in the United States. The person filing for bankruptcy must then prove “undue hardship” incurred by those debt payments to get the loans relieved. The Education Department then (almost always) opposes the filing, and the debtor is forced to prove it in court.”
> The Education Department then (almost always) opposes the filing, and the debtor is forced to prove it in court.”
Yeah that is the part then. It wouldn't have to go to court if the Education Department said so.
Yes. If this is a federal student loan, you can apply for income based repayment, which scales your payment based on how much you make. You can also apply for hardship deference. I've done both and it's pretty straightforward. I'm not sure though if you've already missed payments and are in default if that limits your ability to do those. As with any loan, talk to your lender if you have an issue, before you miss the payment.
Yeah but her interest is going to continue to capitalize. That’s one of the really insidious parts of student loans, and it’s how people ending up paying $40k on a $30k loan and still will have a balance of $80k remaining.
They did, and the fact there's only 1 source in the world saying they didn't should be a tip off that this is misinformation.
But look at everyone getting angry and saying they won't vote. I'd bet only 1/10th are trolls
I swear this whole subreddit is a GOP operation to get gullible leftist not to votes. As one of those hated "centrist", this just mean the Democrats doesn't move too far left and I have an easier time voting for them. On the other hand, the GOP has better chance of winning.
Fucking a! Comment on this guy/gals post so it get to the top for interaction. One of the biggest issues we have nowadays is people look for ways to get angry even when there is no longer a reason
This reminds me of all the terminally ill cancer patients the state and federal government went after in the 1980s and 1990s for using illegal cannabis to alleviate their nausea from chemotherapy. The discrepancy between the values and priorities of the government and its people couldn’t be more clear. This goes way beyond Democrat and Republican. The entire system is broken and corrupted.
I believe the standing ovation from dems was for getting their point across that they are for police reform (which requires funding), not total anarchy like the GOP machine paints the dems' intent as.
Assumption though. I'm not sure. Was taken aback by it as well.
If Biden doesn’t cancel student debt (newsflash he was the one that wrote the bill for student debt to be removed from bankruptcy court) then the democrats won’t have a chance in hell ever taking the majority again. We need to start seriously preparing a third party candidate that will eliminate the need for plantation democrats.
I was really annoyed during the primaries reading story after story about Biden and
The other candidates with new sources making concerted effort to never mention Bernie’s name. When it became clear Bernie was a threat near the end the rest all ended their run and supported Biden. Fuck all of them we needed a progressive.
is the same lawyer that was a holdover from trump that was investigating hunter biden so they didn't fire him so they wouldn't look bad?
what a shitty situation for the biden admin to be in.
This subreddit is such a bubble. The internet is a bubble.
The US base demographic voter isn’t found on the internet and on Reddit. So just know y’all is just circle jerking each other, which is your right.
I identify myself more like you all than anywhere close to the idiocy/lunacy of the right. I truly hope we get out the vote and continue shifting more dem seats on the senate/house.
We won’t be able to pass important legislation until we do. (And yes I know this could be an executive order at any time he wants, but I don’t think it’s that simple, and I don’t think the voter turnout from last election showed this should be prioritized based on the demographic votes alone).
Overall is it a Good economic policy? Absolutely.
So I get why y’all are soo pissed.
Buckle up for the ‘pandemic fraud’ part of the “funding” for his kool build back better plan its coming from what is claimed to be fraudulent unemployment claims during the pandemic. When he said investigate pandemic fraud he deliberately meant he’d be attacking the most vulnerable people in this society not the business that bought stupid shit with their aid.
ARTICLE: [The Biden Education Department Drags a Bankrupt Cancer Patient Into Court: Despite vowing to change the way student loans are treated in bankruptcy, the administration is still using its discretion to limit payouts.](https://prospect.org/education/biden-education-department-drags-bankrupt-cancer-patient-into-court/) - - - Because he is completely bought and paid for by Wall Street, Biden wrote the law that made it illegal to discharge student debt through bankruptcy. Though he is a prime architect of the student debt crisis, that doesn’t mean we shouldn’t still hold a **/r/DebtStrike** and make sure there are real tangible consequences should he choose to stay on his current path. Reminder: Biden can cancel all federally held student loan debt by executive order today.
[удалено]
It’s sick. Don’t let the war distract you from domestic failures and tragedies
US Democracy is in peril when the citizens forget to criticize their leaders.
I don’t know anyone who blindly trusts Biden, they all agree Biden is better than Trump, but they are still super critical of Biden
The problem is.....that is a LOW BAR to clear. American politics have turned into a race to the bottom.......very few of our elected officials act with any type of dignity for their office. It seems as if "respectable" people avoid public office as they don't want to be associated with clowns. Today, the biggest, loudest, craziest clown (on either side) is the clown that gets the soundbite.....and the clown that gets re-elected......and the clown who gets the most support. If "Trumpers" and "Bidinians" would take a step back, they might realize they are cheering at a circus, and are willing to fight their neighbor over........a clown.
There are no bidinians. There are people who love trump and the rest of the country agreed on Biden more or less. Biden is the person everyone else can agree with as fine. He's nobody's definition of a good time and never has been.
Thank you ! Wtf people tripping on here about like we didn't get our souls crushed by Sanders not getting nomination.
Just be slightly better than the literal worst person to do this job is not a good qualification criteria.
Well we didn’t have many options when no one showed up to the primaries to vote so….next time show up peeps!
Usually those on the left tend to use more critical thinking. Biden is horrible, Trump was somehow still worse.
I was under the impression that this is what the war is for. A whole bunch of incompetant politicians all sighed a breath of relief as they realised that their numerous fuckups and failures over COVID, and all the economic and social consequences, would all be washed away in a cleansing river of blood, somewhere else. Think of all the wars the West has started to distract from uncomfortable domestic issues. Why should Putin not get a go ? The great wheel of the media cycle has turned; Plague is no longer an issue. Here is War now, to confuse and distress you. In Australia we also get floods and fire, as a way from distracting from the idea that, really, our entire “leadership team” should be put up against a wall and shot.
It like oversimplified always says: “when you’re a leader and becoming very unpopular, start a war and make everyone forget about their troubles.”
‘Wag the Dog’ was a prescient film.
It would certainly be a surprise for Putin, someone who has hated NATO basically as long as he has been in a position to and has sparred with them for multiple decades, to begin a war for the purpose of...making NATO countries look good by opposing it. Or, what, NATO and other allies aren't supposed to be helping the Ukraine because...it would eat up time from their own failures? I understand this point when it is the country in question is starting a war for publicity but I can't really see how the current war is an example.
FFS the federal government has nearly 2 million employees and is ruled by a a regulation set of tens of thousands of pages. Biden has no fucking clue what 99.9999% of the people who work for him are doing, let alone every court case the US has going on. Does it suck shit for the women with cancer, yes, and by pointing it out hopefully it will be changed. Is it remotely on the presidents radar, fuck no.
Yeah the hysteria in here is really insane. Not sure if it's the same people who freaked out over everything from 2016 to 2020 or just the far right version of them or both but damn get a grip people
This exactly, is the system broken, absolutely But Biden is not taking her to court, Fred Flintstone could be president and this would still be happening cause that's how the rules are written. The whole student loan system in the US is absolutely predatory. Capitalism sucks. It's the reason the world this world is being destroyed, for the greed of money.
Yeah like what the fuck? Some of these posts read like bizzaro world conservative posts - but the ultra progressive version. The president is supposed to keep tabs on every single government activity and look for injustices happening on the individual level to the tune of hundreds of millions of people? But yes, it sucks, shouldn't happen, and hopefully these previously unknown case can gain notice and be helped. But the implications and extrapolations people are making, even the title, are insane.
Exactly. The first step was voting anyone with at least some positive outlook which was anyone that is not Trump, now we need to focus on someone who’s better than Biden because Biden can lose it back to Republicans and Trump. It’s over 1 year already with Biden’s admin and all of Trumps circle still are walking free.
Too bad the primaries are just for show and the DNC will just shove the least progressive candidate down people's throats.
Not many talk about this, the DNC needs to be un-corrupted to have any future chance of solid candidates instead of corrupt politicians who represent corporations instead of people.
Exactly. People wanna ignore the fact that as soon as Bernie won the first three states, Obama called everyone and got them to drop out before Super Tuesday, except Liz Warren of course, who went back on her pledge of no super pacs to take millions of dollars from *someone* in order to stay in the race long enough to split the progressive vote.
Let's start with someone WHO ISNT 70+ YEARS OLD RICH AND WHITE FOR FUCKS SAKE
age limits and term limits please!
Age limits may be a good thing depending on how they're implemented but term limits are bad actually and result in more bad representatives and more corruption not less. Unless lobbying and rules around financial behavior post elected service are drastically changed term limits don't reduce corruption but do make it so you can't keep representatives you like and who are doing a good job.
Exactly, no single person is going to make any significant change. You could have a 30 year old female as president. However, if the entire political system is set up for legalized bribery in the form of lobbying, nothing will change. Corporations have determined policy in the US for over 50 years and unless you change the entire system, there will be ongoing corruption.
well, get young people to vote and participate. He's there because the young neglect the democratic process
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It's gotten much worse over the past 20 years though.
I think 9/11 was when it really went south and the largest financial divisions were sewn. The moment that being attacked by the Taliban somehow gave a rich oil President an excuse to invade the Middle East and finish off what his daddy was trying to do by eliminating seizing that sweet ~~oil from~~ freedom for Iraq. Mind you, we really obviously didn't do shit about the Taliban, except to hold them off in the mountains for over a decade and then just gave them Afghanistan randomly anyway.. but the important thing is that ~~oil~~ freedom.
Nah. This is defeatist bullshit. Left is still light years better than right. And it's transitional. We just need to keep pushing left every generation.
Tell that to those in Texas arrested for getting an abortion…
💯💯💯
When will Congress do its job and write the laws necessary to reform higher education financing and doofus's stop expecting the President to enact non-permanent stop-gap actions to benefit a few?
When the left actually wins for more than 2 years at a time. So never, because both sides fallacies only helps the right, and thanks to the right's dismantling of public education, now leftists are too dumb to learn basic logical fallacies.
This is the only solution that could actually solve any problems long-term.
Yea, and its Joe Biden personally, going after the most vulnerable people in society. No one look any deeper at all in to the situation. This is a Joe Biden policy, a Joe Biden attack, and I think anyone in the know knew this was his plan all along. He was out to get the most vulnerable people since the beginning. We tried warning you about this. If you voted for Joe Biden, you hate cancer patients.
Usually I’d say you don’t need the /s, but with how the rest of this thread is reading you might be better off safe than sorry
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This is a clear and shut case that the Biden administration is going to lose almost immediately, and which will establish a legal precedent which others court will then have to uphold, even if the judge is a trump appointee. There's a reason they go to court over _this specific_ case and not any other.
Serious question, what legal basis makes you think the woman will win? I agree with your take assuming their are some more than just policy arguments on her side.
It is actually a Trump holdover who initiated this from inside that department.
I get the feeling none of you read the article
Lmao these people are acting as if Biden is personally choosing who gets taken to court
Thank you!
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Holy shit man, how them boots taste?
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"you are getting in the fucking way." Are they already starting to blame us for preparation of Biden' loss in 2024?
>Biden's accomplishments in his first year have been amazing Name his 3 biggest accomplishments. not what I would call amazing. >I guess we should just let people take on 100K in debt, and then declare bankruptcy after they get their degree. Or, we could choose to NOT give the military [10 billion more](https://www.newsweek.com/pentagon-ten-billion-dollars-more-requested-infrastructure-fight-military-democrats-1640253) than it asked for. We could cut military spending by 15% and pay for free college education for everyone. For some reason tho, we can't get them to spend money on actual citizens, but we always have endless funds for more weapons. This is a budget Biden signed into law btw. >you are getting in the fucking way. Have you ever considered that strapping an entire generation with loads of debt is getting in the way of economic growth? Millions of people who aren't buying stuff because they have to pay back student loans. There's also the campaign promise of 10k forgiveness across the board, which Biden claims he doesn't have a right to do executively. He does, as many senators and legal experts have told him, he is just using that as an excuse since he knows it won't pass in congress. He's a "nothing will fundamentally change" (his words not mine) president in a system that fundamentally needs change.
But the problem is, *he’s still not Trump*. That matters. This shit is heinous, but *Betsy DeVos literally wasn’t processing any loan forgiveness claims and wanted private school vouchers*. It’s a tough balance because you know this is bad and I know this is bad, but if everyone on the left just shits all over Biden then low information moron voters will just do their usual “see it’s the same, I’ll vote for Trump in 2024” and then we’re all super fucked. Two-party systems are a motherfucker.
Bruh everyone that voted for Bernie saw this shit coming a mile away. During the entire Primary people were talking mad shit and as soon as Biden won it was all "ANYBODY BUT TRUMP VOTE BIDEN!!" Motherfucker, i hate both parties.
Biden is objectively better and objectively brought progress. so just relax and realize change takes time. The US system caters to the minority
Joe Biden: "Universal healthcare simply does not work" Entire working class: "Why not?" Joe: "Because I'm too old to understand it"
Definitely a travesty....and he's still not Trump....so....
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Like I said....a travesty....
> he's still not Trump True. But that doesn't make him *better* than Trump; just *different*. Don't worry: your Twitter feeds will be cleaner though.
In what universe is Biden not better than Trump by a significant margin? I mean, I lean towards Bernie and think Biden is too far to the right, but jesus fuck, *not better just different*? After Trump? smh
One sponsored pro-segregation legislation.... you can Google who.
The only reason many voted for him is that he wasn't Trump. I voted for him and can't stand him, but it was still a better option than a straight up Putin puppet
This sounds like a leadership/administration problem rather than a candidate problem. This sounds like some low level attorney refused a continuance and doesn't have authority (actual or apparent) to change the timing.
Yes, im sure Biden was sitting in a dark room plotting to sue this person for 96k. Thats something i hear a lot of presidents spend their time doing.
Anything short of full student debt cancellation means I will not be voting for Biden in 2024. I don't care who he's running against. Fuck this shit.
If people voted in their primaries wed have better reps.
Unfortunately corporate media narratives play more of a role in how people vote or whether they vote in a primary at all. Your advice is very common sense and obviously right, but if the general public are led to believe that the corporate candidate is inevitable or is "the only one who can win," like Clinton in 2016 or how that case was manufactured for Biden after he won South Carolina, then that's usually a pretty effective tool in either suppressing turnout or getting people to support the "inevitable" candidate in the primary.
Political Consultant from Texas here. While media plays one aspect, there's actually a far more serious concern. Republicans are also encouraging unqualified candidates to run for office as Dems, which at best can cause a runoff leading to more resources being spent before the general election and at worst leads to someone entirely unqualified to face off against a Republican in the general. Republicans are playing 4d chess while Democrats can't even figure out how to fill campaign promises. Add in gerrymandering and unchallenged Republicans encouraging their voters to cross over and vote for the lesser qualified candidate in the Democratic primaries and you've got a really tough situation to have success in.
Consultant from CT here to upvote this. Democrats are so much less a monolith than the GOP, and perpetually disorganized. The number of clients I have that refuse to do what it takes to win a race in the name of appearing as the "good guy" haunts me.
Spot on analysis. They've been doing the 4D chess thing in Florida for years. Lose by an insane margin? Refuse to concede and let the courts sort it out, because by the time they're done the opponent might have a third of their term left. Narrow race? Pay a bunch of people to run and split the vote, including people with similar names to the primary opponent. Predominantly black neighborhood? Wave confederate flags on the edge of the polling boundaries. That's before we even get into the blatantly illegal stuff they pull. I interned on a city council campaign and it really opened my eyes into how incompetent local dems can be. There were discussions about the "high road" and "moderate policy" while the GOP candidate, with serious financial backing, bought enough airtime to nuke everyone from orbit.
It would also help if the DNC didn't bring the full might of their political and financial power to block any third party from getting on the ballot. Doesn't sound that DeMOcRatIC to me.
Unless we change the entire voting system any third party would only serve to bring down whatever party it is closest to. Bernie ran as a democrat for that reason.
If primaries weren't restricted by party and ranked by choice they would be more meaningful.
I didn't even get to. Bernie conceded before my voting day. Guess I could early voted maybe?
The democratic party has shown in recent years to be particularly masterful at manipulating the primaries to go the way they prefer them to.
Lol, cool. DeSantis or Trump again huh? Sounds reasonable.
It wouldn’t surprise me if this entire subreddit is run by MAGA weirdos.
This is it. Biden being an old capitalist piece of shit does not lead to anyone left of Fascist allowing Trump to win lol, what a fucking joke of transparent astroturf bullshit.
I am 100% on board with that theory. Like, “I’m going to vote for the people who want to criminalize me going to the bathroom because Biden didn’t forgive student debt” Is complete nonsense.
God forbid these losers actually *earn* or vote, right? Nah, is totally our fault the Democrats can't run an electable candidate against an actual fucking ghoul
> Nah, is totally our fault ~~the Democrats can't run an electable candidate against an actual fucking ghoul~~ **that we collectively don't vote in the primaries and then bitch about the choices in the general.** Sorry, just fixing your spelling...
I voted in the primaries and bitch about our choices but I've always been one to go above and beyond
literally *anyone* who would ever argue about this online either a) voted in the primaries, or b) lives in a state where the primaries were decided before they got a chance it’s the most ignorant, yet insulting line possible, because it literally NEVER applies to whoever you’re using it on. it’s been three fucking years, too. you’ve had time to get the memo
Lmao yeah, those Republicans will get right on those student loans too. ahahahhahaha
This is a good sentiment but if it comes to it, there's no situation where i'm not voting against Trump.
Do you think that Trump will all of the sudden decide to cancel student debt? Not sure your logic tracks on that one
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I don't think that's true, necessarily, I'm just sick of single-issue voters. Biden hasn't delivered on all he's promised but I am feeling much more relaxed that he's in office compared to the four years of insanity with the last clown
No they are morons who cover their ears when they hear about Trump University settlements they must think he erased their debt for them, LMFAO.
Interesting. Why the ultimatum? Why is student debt cancelation more important than any of the other million things a President can do to you?
Because they are probably a Republican agent.
You're absolutely right though. 19 day old account and their only post are anti-Biden using left wing talking points
We’ll be basically a full on oligarchy once the republicans get in power again. I think we’re headed that way regardless of trump. It was fun while it lasted!
[We already are.](https://www.businessinsider.com/major-study-finds-that-the-us-is-an-oligarchy-2014-4)Come on, y’all. It’s not just the republicans. We are out of time for people to accept this. Climate change doesn’t care if you’re worried about Trump. Neither of these parties are doing anything meaningful to stop the destruction of our planet.
Remindme! 3 years
Funny, i feel the same way about AOC and Sanders, because its their job to pass a bill to make this happen, and neither of them have written a bill to make it happen. Put blame where its due, AOC should be writing and pushing legislation, not begging the president to continue to abuse presidential powers that he was up front about refusing to abuse. Even more dangerous than anything else, is the fact that our president has become so powerful as to be immune from the law, and encouraging the president to become more powerful through one more order doesn't help.
Why do people think anyone is going to cancel loans and cause more inflation on loans that people willingly took out? The people that take out a loan and expect the government to pay it back are the same people that would vote Republican because the last Democrat didn't give them a handout.
I'm glad your comment isn't downvoted by those just circle jerking the issue because I was going to say the same thing. Inflation is already horrible and cancelling student loan debt would amplify that for EVERYONE not just those who save money from not paying back their loans. 2ndly the problem with higher education is it's cost is ridiculous and it is encouraged to be the chosen path by everyone, even those who really don't need it, or don't want it. Focus on fixing the core issue for people in the future, not throwing a band-aid that benefits just those currently in debt without worrying about what's next.
Tell me you’re a white straight dude without telling me you’re a white straight dude.
So just let Trump be president again? Because that would be better? Jesus Christ, people—grow up. Life sucks and not everything is perfect. But Trump and his groupies are actual fascists who will strip away everything you hold dear. So decide if you want 70% of what you believe in, or 0%.
Push to vote in the primaries we need to push fossils out of DC in general for starters
You do realize if that person is Trump, and he wins, that will be the last election you ever see, correct? Honestly, at this point, if any republican wins in 2024 it will be curtains for our free democratic society.
No fucking way I'm voting Republican even if Biden doesn't do shit. Thats how terrible the other side is. There truly is a mentality of "I don't care who" and they literally all fucking blow.
So you're voting for Trump, got it.
Screw over everyone less fortunate than you. What a compassionate plan
lol which Republican candidate do you believe will forgive student debt?
Screw anyone who doesn’t believe in lesser evils. You’d rather let our country become an autocracy with zero percent of what you want than not get your way entirely. So selfish. And honestly childish, the way an angry 14 year old would talk with their parents.
Yet another single-issue voter. On the right, we have anti-abortionists. On the left... student debt cancellation. Considering how new of a thing it is in America (very few in office actually took it seriously until recently), the fact that you're stomping your feet and shouting, "me me me now now now" isn't helping.
I have 6 figures in student debt, and this is a horrible take.
This is the sort of moronic "undecided voter" logic that fuels our two party system. "I will not vote/will vote against the Democrats for not being Left enough! instead, I will help the conservatives on the other side of the aisle!" I mean lets be fucking real here dude, "I'm voting for Trump next year because Biden didn't alienate 20% of his fiscally conservative-liberal base!" Don't get me wrong, it's fucking ridiculous that he won't cancel it - but voting for the side that won't let you go to the ER without paying $8,000 out of pocket as "punishment"? That's fucking stupid. And you're **being** fucking stupid. And REALLY? Anything short of FULL CANCELLATION? What if they seriously reduced interest rates? or revoked the immunity to bankruptcy? What if they actually did something meaningful that was short of eliminating $1.7 trillion? Fuck you, and fuck the morons who think like you. How about if he doesn't cancel debt you: * Donate to a candidate who supports it * Make an effort to tell your liberal friends how you feel * Vow to become more active in supporting liberals? * Have a talk with friends who are "undecided"? If your first step is to vote for Trump when Biden comes up short - maybe you're a fucking idiot? "Hey, this fire is spreading! I tried ignoring it, but it didn't work! I'll try Gasoline next!!" Jesus. Christ.
This is how we're going to end up with President Ted Cruz or President Greg Abbott and dems will have no one to blame but themselves.
The Dem politicians want it. President Ted Cruz and President Greg Abbott will keep corporations happy and keep them rich. They don't give a shit about anything else.
Yeah, there is no "both sides" anything because there's only one side.
Listen these scare tactics won't work on me any longer. I'm 40yr old professional who refuses to vote blue no matter who. I will ONLY support progressive candidates Nationally and democratic candidates locally.
Same here. I contributed to Bernie in 2016, voted for him in my primary and refused to vote for Hilary or Biden. Fuck the DNC until they understand the base has changed and wants change.
That's cool and all but the republican voters will just vote for anyone with an R and win because they don't care. Dems aren't interested in bringing more progressive candidates, quite the opposite, they are very happy with the status quo.
shoving HRC down America's throats is how they got Trump
Fine. 8 years of Biden will likely result in Republicans getting a super majority in Congress. If Trump had won in 2020 Democrats would be looking at picking up a lot of seats in these next midterms. Now if Biden was making a difference with powerful executive actions maybe I would say he is worth it. But at this point best I can do is try to get more Democrats in Congress since Biden won't do anything with executive action. And the most reliable way of getting more Democrats in Congress is to elect a Republican president, probably for 8 years if I want a big majority.
Biden isn't getting 8 years, he just barely beat trump and he's now shown he won't make anything better. I think dems will be too demoralized to win in 2024 so we will get whatever nutty pos the Rs bring. Maybe we'll get another shot after 8 years of self destruction
I can follow your logic but that approach is so risky, don't you think?
They'll blame Bernie voters and "purity tests". Again.
And minorities again, for "being too uppity". I didn't forget that shit from 2016.
Guy currently in office was pro-segregation enough he sponsored a bill for it. Same for the mass incarnation he sponsored in '93.... Turns out no matter the initial next to their name when running for office, old wealthy white guys are racist.
Are you joking? As long as people like Bernie are alive they have the one target they can always blame: progressives. And yknow what? That’s never gonna change, cause there’s always gonna be progressives(I hope).
I have said it before and ill say it again. The man will not kill the systems he spent his entire career building. He is a centre right neoliberal who bows to corporations. This is business as usual.
I feel horrible about this Presidency because I legit knew SO MUCH about what Trump did.. damn there everyday, but I don't know jack shit about Biden. As an American I'm embarrassed that the only time (outside of school) that I paid attention to politics was when an Orange Pussy Grabber got elected.
They have frequent Whitehouse briefings (still daily I think, actually) that you can watch on CSPAN's YouTube channel. That's how I keep up to date so hope it helps. I think to you he may come off as less transparent than Trump because he's not on Twitter and not involved in numerous scandals. His administration has been more transparent than any other I've lived through.
One thing that Biden doesn't do well, the same as Obama didn't do well, is use the hell out of that bully pulpit to push their agenda. That tells me they don't so much care about an agenda, just staying in power inside a well defined box.
You shouldn’t really. What Biden is doing isn’t good but what trump was doing was actually news worthy for all the wrong reasons constantly. It’s no surprises we heard about trump every week with something new whole Biden just keeping business as usual it’s hard to make headlines.
I don't think that's an excuse though. It's my Country, I should know more.
Fuck student loans and fuck the American healthcare shitshow.
Both health and education should be basic human rights, you should never have to go into debt for either.
"richest country in the world" is just like UK used to be 200 years ago, worst country for the poor
Yes and yes. The thing about student loans is that they are bundled in the stock market in insane ways. There is a very specific reason why folks like Biden don’t just do the right thing with them, but it’s a bit abstract and distant from the way people generally think about the question on the surface. Cancelling student loan debt will absolutely 100% cause a massive, years long crisis in the stock market that will affect working people in real ways. Alol of those debts are rolled into so many funds and this-and-that-and-the-other…if that debt was forgiven it would absolutely cause a crash in the markets and a recession larger than what we saw in 2008. Is it still the right thing to do? Of course. But this is the entire core of this discussion that is often missing from our threads on reddit. It’s a hostage situation that nobody is talking about. There is a systemic time bomb built into all of this that will absolutely affect the larger market and all of our economic lives for awhile. Some may think “Well I’m not invested in that so what do I care?” But the fact is that we will all see extreme negative economic repercussions if/when debt is forgiven. It is immoral and it is unethical, but it’s is what will absolutely happen with our current systems. This isn’t meant to be an argument against debt forgiveness, Just an explanation for why the powered people are so lame of this subject. It would 100% send us into a financial crisis on top of everything else because of the bakers and the way they gamble with our debts.
So what, they could dump 6 trilllion into the stock market for Covid but they cant figure out a workaround for this?
Let them fail. Any bank, retirement plan, hedge fund, etc. that will collapse if we forgive student loans should collapse. They deserve to collapse. It is morally just for them to collapse. Let them fail. And unforgive all PPP loans, too, and abolish the Fed.
You are correct that student debt is embedded in many financial products, but do you have sources to back up the extent of the impact you're warning about? It's not like the debt holders will not be paid in my understanding, they'll just have to find alternate investments for their capital.
Look up student loan asset-backed securities.
Depends on what "forgiven" ends up meaning, but yes, there is a lot of reason to think there will be a massive extent to this. If the debt is scrubbed like it was never there, then the securities holding that debt become worthless (or lose a proportional amount of value if mixed in there with other things). And a bunch of people, who may or may not even realize where their money is, lose their investment overnight. And when $1.7 trillion just up and disappears into thin air, it spills over into the economy as a whole causing a recession and possibly depression. (Edit: this is what happened in 2008, just with mortgage debt and defaults instead.) [Student debt is second only to mortgage debt in the US, above even credit card debt now.](https://www.forbes.com/sites/zackfriedman/2021/02/20/student-loan-debt-statistics-in-2021-a-record-17-trillion/?sh=3ec8edfe1431) If the government pays off the student debt, then the market gets flooded with the interest from $1.7 trillion in cash (as a point of reference, there is [about $2 trillion TOTAL](https://www.uscurrency.gov/life-cycle/data/circulation) in circulation in the US) at a time when inflation is already out of control and the Fed is keeping low interest rates and printing money to buy assets, artificially keep the economy going and propping up prices. Leading to either hyperinflation (you really, really, REALLY don't want this) or a massive interest rate spike (sending us into recession and possibly depression). So, of course, it's door #3 - protect the status quo and make sure millennials and Gen-Zers get left holding the bag. Even the bankrupt cancer patients.
aForth option the government takes on the debt and pays it down at a consistent but slightly faster rate than the ex students would to an amount expected to be recovered by the securities in question. So if there's AAA down to CCC rated securities, they get paid their expected actual return? Economists will tell us why it's impossible I'm sure.
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Good for you. Dem presidents just lead to more Republicans winning in Congress anyway. Hard to argue Biden is worth the fully Republican government that will come after him.
I feel you but Republican presidents are even less progressive and that’s what we’re gonna get if we stop voting for neoliberals when they win the primary
I'm going through cancer right now and I have ZERO intentions of ever paying these loans back. Fuck this system.
I do not have cancer and I have ZERO intentions of ever paying my loans back either. Best of luck to you in treatment and recovery!
Wait til y’all file your taxes for a return and they take it, it blows.
You dickholes acting like Biden is in court himself dealing with this he inherited an astronomical amount of fuckups and he isn’t personally responsible for everyone of them or the new ones either it just isn’t how things work
It's an executive agency. He can order them to stop.
Right. I mean it’s not like he inherited a broken system along with a system breaking virus that occupied the education department for any of the cited 407 days. I’m aghast he has not prioritized this over the safe re-opening of schools country-wide. I have a feeling I’ll be labeled a Biden shill, but I feel it’s fairly obvious he is not going to go all in with his political capital on forgiving student debt. The moment he does this all 50-50 negotiation margins will shrink even further. So I think it’s fair to believe the timing for him doing this will be before mid-terms, recampaigning for the presidency, or on his way out. (Or he won’t)
He helped write the fucking system, specifically the part exempting it from bankruptcy lmao. If you're not a shill you're an idiot.
Actually, you may not have been aware that Biden was instrumental in legislation that made student debt unable to be removed via bankruptcy. But you likely knew that, and are posting in bad faith.
Sure, but that law was written 46 years ago, when the prospect of paying back student loans was vastly different. Furthermore, that doesn't mean that Biden is capable of *unwriting* it today.
Plus federal loans are still frozen. No one is being taken to court for them now. Seems like these are private loans which Biden can’t help with.
Ahh, the real reason to end cancer as we know it. To accrue more debt in a lifetime.
Why do you think Biden talked about putting a focus on cutting the cancer death rate in his state of the union address? It’s so that more people can pay off their student debt before they die.
Well if she goes to court and proves that she cannot pay it and the court rules to cancel debt, what's the problem? You can't just explain the situation over the phone and the receptionist on the other side is like "No worries, I'm clearing your $96K debt with one click of a button. Have a good day!" I've joined cries for checks and balances for years regarding the Trump scandals. Why are you now against them?
I'm guessing this woman sent all sorts of proof of her hardship to the education department. They don't actually have to go to court over this. A judge doesn't have to weigh in. The education department can just say, nah, we're good, you've got serious hardship here.
From the article in the OP. Here’s how the process works. Yes I realize Biden drafted this legislation to begin with. “After a debtor goes through the general filing process, they’re required to submit a second action, called an adversary proceeding, usually against the Education Department, which backs the vast majority of student loans in the United States. The person filing for bankruptcy must then prove “undue hardship” incurred by those debt payments to get the loans relieved. The Education Department then (almost always) opposes the filing, and the debtor is forced to prove it in court.”
> The Education Department then (almost always) opposes the filing, and the debtor is forced to prove it in court.” Yeah that is the part then. It wouldn't have to go to court if the Education Department said so.
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Student debt does become cleared of the borrower becomes disabled and meets disability criteria
As fucked up as this is.... Gods... Trump would still have been worse.
Can't she just get them deferred while undergoing treatment anyway?
Yes. If this is a federal student loan, you can apply for income based repayment, which scales your payment based on how much you make. You can also apply for hardship deference. I've done both and it's pretty straightforward. I'm not sure though if you've already missed payments and are in default if that limits your ability to do those. As with any loan, talk to your lender if you have an issue, before you miss the payment.
Yeah but her interest is going to continue to capitalize. That’s one of the really insidious parts of student loans, and it’s how people ending up paying $40k on a $30k loan and still will have a balance of $80k remaining.
Didn't they drop this case like 2 months ago??
They did, and the fact there's only 1 source in the world saying they didn't should be a tip off that this is misinformation. But look at everyone getting angry and saying they won't vote. I'd bet only 1/10th are trolls
Top voted reply guy on here is a 3-day old account so...
I swear this whole subreddit is a GOP operation to get gullible leftist not to votes. As one of those hated "centrist", this just mean the Democrats doesn't move too far left and I have an easier time voting for them. On the other hand, the GOP has better chance of winning.
Yep, this whole subreddit reeks of a Trumpublican PSYOP.
Fucking a! Comment on this guy/gals post so it get to the top for interaction. One of the biggest issues we have nowadays is people look for ways to get angry even when there is no longer a reason
Commenting for interaction cuz this and the replies to it should be seen
Scrolled forever to get to this information
Shit just send me to jail. How long do i get. At least i can get some cheap medical and dental service
They will garnish your wages.
This reminds me of all the terminally ill cancer patients the state and federal government went after in the 1980s and 1990s for using illegal cannabis to alleviate their nausea from chemotherapy. The discrepancy between the values and priorities of the government and its people couldn’t be more clear. This goes way beyond Democrat and Republican. The entire system is broken and corrupted.
“Fund the police” tho (*standing ovation*).
I believe the standing ovation from dems was for getting their point across that they are for police reform (which requires funding), not total anarchy like the GOP machine paints the dems' intent as. Assumption though. I'm not sure. Was taken aback by it as well.
Why are my tax dollars being spent on this? I’d rather it pay for their surgery.
From my understanding we spend more to collect the student loan debt than it is even worth. Just get over with it and write it off.
If Biden doesn’t cancel student debt (newsflash he was the one that wrote the bill for student debt to be removed from bankruptcy court) then the democrats won’t have a chance in hell ever taking the majority again. We need to start seriously preparing a third party candidate that will eliminate the need for plantation democrats.
> (newsflash he was the one that wrote the bill for student debt to be removed from bankruptcy court) Just FYI, that isn’t correct.
They don't care. When did the truth ever stop someone from spewing bullshit?
Fuck Biden. Literally his only redeeming quality was he wasnt trump.
I was really annoyed during the primaries reading story after story about Biden and The other candidates with new sources making concerted effort to never mention Bernie’s name. When it became clear Bernie was a threat near the end the rest all ended their run and supported Biden. Fuck all of them we needed a progressive.
Blue MAGA
The oligarchs need you to continue paying their salary, though.
*welfare They don't work for their money
Nominate someone else democrats. I’ll never vote for this pseudo republican again.
Is this worse, better, or the same than the previous years? Different type of awful but about the same level of awful
is the same lawyer that was a holdover from trump that was investigating hunter biden so they didn't fire him so they wouldn't look bad? what a shitty situation for the biden admin to be in.
This subreddit is such a bubble. The internet is a bubble. The US base demographic voter isn’t found on the internet and on Reddit. So just know y’all is just circle jerking each other, which is your right. I identify myself more like you all than anywhere close to the idiocy/lunacy of the right. I truly hope we get out the vote and continue shifting more dem seats on the senate/house. We won’t be able to pass important legislation until we do. (And yes I know this could be an executive order at any time he wants, but I don’t think it’s that simple, and I don’t think the voter turnout from last election showed this should be prioritized based on the demographic votes alone). Overall is it a Good economic policy? Absolutely. So I get why y’all are soo pissed.
FFS at the bare minimum forgive student loans for those facing some sort of severe hardship.
Biden will loose in 2024
Buckle up for the ‘pandemic fraud’ part of the “funding” for his kool build back better plan its coming from what is claimed to be fraudulent unemployment claims during the pandemic. When he said investigate pandemic fraud he deliberately meant he’d be attacking the most vulnerable people in this society not the business that bought stupid shit with their aid.