US appeals court blocks all of Biden student debt relief plan (Page 11/13)
BingB AUG 01, 05:18 PM

quote
Originally posted by blackrams:


Cliff, I don't know that it's actually a lack of common sense but it's definitely political If DJT hadn't run for re-election just how many of these allegations/charges would have never been filed. Pure Political Prosecution of an opponent. (IMHO)





Then how do you explain all the legal trouble Trump had BEFORE he was President?

Trumps campaign illegally hacked into voter records in Georgia. You seriously think actions like that should just be ignored?

He lied about the documents he had and was showing classified Department of Defense Documents to his buddies at a country club. You think that is okay?


The truest words Trump ever said was that he could shoot a man in the middle of the street and they would not care. He can do anything he wants and they will still support him. Lots of politicians have supporters like this, but Trump is the only one that will flat out tell them to their faces that they are mindless sheep. He thinks it makes him look better to have such loyal followers.
BingB AUG 01, 05:58 PM

quote
Originally posted by Doug85GT:
You are a complete idiot when it comes to economics. Do you know what a Treasury security is? If you did you would know how stupid your statement is. The government cannot cancel a Treasury security without serious consequences.


No one said anything about cancelling Treasury securities.

The point was that the cost of cancellation of student loans would not be the interest and principal on the loans, but instead just the debt service on the lower interest treasury securities. That debt service is paid to the Federal Reserve, and the Federal Reserve returns its profits to the US Treasury.

The whole point of the report is to weigh the cost of debt forgiveness with the benefits (increase in GDP and employment). It is the exact same argument that Trump used to sale his tax cuts. Reducing federal tax income increases the debt, but Trump argued that the deficit spending would increase GDP and create jobs.
blackrams AUG 01, 06:01 PM

quote
Originally posted by BingB:

mindless sheep.



Mindless Sheep could also be applied to DJT haters. Thinking it's all about perspective.
Anyone but Trump............................ Pretty much the way I feel about the WOKE Leftist the Democrats have elected or running for office.

------------------
Rams
Learning most of life's lessons the hard way. .
You are only young once but, you can be immature indefinitely.

BingB AUG 01, 06:06 PM

quote
Originally posted by blackrams:


Mindless Sheep could also be applied to DJT haters. Thinking it's all about perspective.
Anyone but Trump............................ Pretty much the way I feel about the WOKE Leftist the Democrats have elected or running for office.





I agree 100%. That is why I said other politicians had followers just like this.

But Trump is the only one that will tell them to their faces that they are mindless sheep. He thinks it makes him look better.
blackrams AUG 01, 06:28 PM

quote
Originally posted by BingB:

But Trump is the only one that will tell them to their faces that they are mindless sheep. He thinks it makes him look better.



OK, well that would be one perspective.....................

Rams

Doug85GT AUG 01, 10:56 PM

quote
Originally posted by BingB:

No one said anything about cancelling Treasury securities.

The point was that the cost of cancellation of student loans would not be the interest and principal on the loans, but instead just the debt service on the lower interest treasury securities. That debt service is paid to the Federal Reserve, and the Federal Reserve returns its profits to the US Treasury.

The whole point of the report is to weigh the cost of debt forgiveness with the benefits (increase in GDP and employment). It is the exact same argument that Trump used to sale his tax cuts. Reducing federal tax income increases the debt, but Trump argued that the deficit spending would increase GDP and create jobs.



That is not how any of that works. By the government selling treasury securities, i.e. bonds, the government took out a loan to make those student loans. Forgiving the student loan does nothing to the bonds the government sold. They still have to be paid by the government, meaning us the taxpayers. This is the same as taking a 2nd mortgage out on your house to loan money to your uncle. If you forgive the debt to your uncle, you have to pay back your second mortgage out of your own pocket.

Those bonds are not so cheap anymore. In case you have not noticed, interest rates have gone up significantly. When those bonds come due, they will have to be rolled over into higher interest bonds at current interest rates.
82-T/A [At Work] AUG 02, 06:54 AM

quote
Originally posted by Doug85GT:
That is not how any of that works. By the government selling treasury securities, i.e. bonds, the government took out a loan to make those student loans. Forgiving the student loan does nothing to the bonds the government sold. They still have to be paid by the government, meaning us the taxpayers. This is the same as taking a 2nd mortgage out on your house to loan money to your uncle. If you forgive the debt to your uncle, you have to pay back your second mortgage out of your own pocket.

Those bonds are not so cheap anymore. In case you have not noticed, interest rates have gone up significantly. When those bonds come due, they will have to be rolled over into higher interest bonds at current interest rates.




On the left, there are those who have no clue how this works... and then there are those who do know, but try to make excuses. Fred is the first one. But the second group try to convince us that by forgiving this debt, it'll improve the economy because that money will go right back into the system and the government will get their share via taxes anyway. This is absurd of course... because what it's really about, is preventing what they fear might be an economic down-turn as a result of these policies in the first place.
BingB AUG 02, 10:37 AM

quote
Originally posted by 82-T/A [At Work]:


it'll improve the economy because that money will go right back into the system and the government will get their share via taxes anyway. This is absurd of course...


If it is absurd then why did you use the exact same argument to defend the deficit created by the unfunded Trump tax cuts?
82-T/A [At Work] AUG 02, 11:07 AM

quote
Originally posted by BingB:

If it is absurd then why did you use the exact same argument to defend the deficit created by the unfunded Trump tax cuts?




The deficit wasn't created by the Trump Tax Cuts... that's a wildly incorrect liberal talking point that has been misproven thousands of times, and every time it gets repeated by an unwhitting liberal. The Trump tax cuts led to record-tax revenue year over year. It works by reducing the tax load on the corporations, which then allows them to hire more people, in which there are more people employed and more people making more money and thus paying more taxes. The government still gets their money (and since it spurs economic growth and spending, they get more of it).

The deficit was created by radical funding bills that the House / Senate passed, and Trump signed into law.
BingB AUG 02, 01:45 PM

quote
Originally posted by 82-T/A [At Work]:
The deficit wasn't created by the Trump Tax Cuts... that's a wildly incorrect liberal talking point that has been misproven thousands of times, and every time it gets repeated by an unwhitting liberal. The Trump tax cuts led to record-tax revenue year over year. It works by reducing the tax load on the corporations, which then allows them to hire more people, in which there are more people employed and more people making more money and thus paying more taxes. The government still gets their money (and since it spurs economic growth and spending, they get more of it).

The deficit was created by radical funding bills that the House / Senate passed, and Trump signed into law.


Trump tax cuts reduced revenue which increased the deficit. Record revenue is meaningless when you have even larger record spending. Trump ran huge deficits. About 30% higher than the Obama administration the years before Trump took office.

The argument you are trying to make about "effect" of the tax cuts is the exacts same argument made for the effect of the debt forgiveness. More money in the economy increases GDP.