In case you haven’t figured it out yet, the reason that the right wing is so upset with Biden’s forgiving student loans is that this is an economic stimulus of massive proportions. The interesting thing about it is that since there has been a moratorium on student loan payments, this will not have an inflationary impact.
This will have a very positive impact on the economy timed perfectly for the midterm elections. Those on the right who think Biden is senile have made the classic mistake of underestimating their opposition.
Dark Brandon strikes again!
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My only concern is if the supple chain is up to snuff. While there has been a moratorium on the loans I bet some continued to pay not willing to risk a government plan of forgiveness. Those who literally needed the moratorium to just survive are exactly the who need this program must be greatly relieved.
The fact is this loan forgiveness is NO different than the subsidies tax payers dollars go to big ag, big pharma and big oil. One will benefit the lower classes and the other benefits the very top class.
You are correct that the economic Impact could be huge, now we need to change the flow of the GDP. Currently all of it is going to the top 10%, while this will help level the playing field until the corporate and the wealthy starting putting their fair share into the pot the lower classes will continue to struggle.
I sure hope this convinces the young people to get out and vote for Dems.
Next is to get big money out of the government.
silverotter11
Level 9
Aug 26, 2022
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My understanding is that this is retroactive to the beginning of the moratorium, and people who made those payments should qualify for refunds.
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