(02-06-2021, 07:13 PM)EricC85 Wrote:

(02-06-2021, 05:17 PM)jagibelieve Wrote: I wonder how many Biden voters are all for taking on debt incurred by others.  After all, that's exactly what it is.  Student loan "forgiveness" pretty much means that the people that signed those contracts don't have to fulfill them and the people that actually pay taxes do.

Well I’m certainly not a Biden supporter and on the surface I’m with you 100% student debt needs to be paid by those that took out the debt.

That said I’m just reading the tea leaves and see it almost inevitable they’re going to “write off” a portion if not all student debt for a large portion of the population holding that debt. 

I guess I’m just throwing out there the idea of give and take, IF we’re going to go down that road let’s tie it to something else reduce their social security payouts and we can make some of that money back over a long period of time. 

For example sally has 90k in student loans and is going to be receiving a 50k forgiveness from the current administration. Why not make the automatic social security withdrawals continue but then when salt retires she either gets a 50k deduction in benefits or doesn’t collect until the 50k is paid back from her social security allotments. 

This way we continue to some what fun social security for current generations and ease the payments for future generations as the system is becoming more and more insolvent. 

To me the alternative is we let nature takes its course the bubble pops and everyone is hurt by the stock market drop and or recession similar to the housing bubble, it would wreck the returns on older generations trying to retire now as well. Or we write it off and the rest of us take it on the chin and pay it off in taxes no one wins here. Or hope a generation that is way over spent and under employed is going to some how payback this money not very likely. 

It’s a bad situation with no perfect solution. 

Long term there has to be something done to control cost, if education is going to be publicly funded (which it is indirectly now) the free market supply and demand doesn’t work there has to be price controls. 

Like insurance and any other sector once you eliminate the two party supply and demand and introduce third party subsidies the rules of free market go out the window.