Still can't get over the fact that Biden could have passed student loan forgiveness LEGALLY by having Congress vote on it - when Democrats controlled both houses. FFS
The US also has affordable higher education. It's called in state colleges as well as community colleges. Why do people always willfully choose not to present that fact whenever speaking on the costs of higher education?
Can you provide sources for the last comment about China? That's a wide ranging statement to include without a single link.
So wrong and utterly facile on so many levels. Mr. Khanna keeps citing “institutes” and “Nobel laureates” as if that should impress us. The NYT’s Paul Krugman is also a Nobel laureate and we’ve learned time and time again if you’re implementing an economic policy you should do basically the opposite of whatever Krugman says. It’s like some doctor who gets a Nobel for their work on a toe fungus and thus making them your general surgeon, neurologist, urologist and everything else.
And since liberals are obsessed with “assaults on democracy!!!” I’m wondering where he falls on a single guy in the White House who, overriding endless laws enacted by - gasp! - *elected legislatures*, writes his *own* laws forcing yet another $1/2 TRILLION(!!) onto American taxpayers. Wow! Talk about using your “pen and a phone” as Obama liked to *brag* while he ignored endless laws written also by elected legislatures. (And our “watchdog of democracy” “media” adored all of it.)
And of course, Khanna conveniently ignored - as always - how any of this is fair to the parents who saved for **decades** to pay for college so their kids wouldn’t have debt after graduation. While ridiculing DeSantis, Khanna never explained how he was wrong.
Simply **giving** a black kid $50,000 would increase their wealth? Ya think? Same for me! In fact, didn’t Democrats just try that disastrous policy by simply giving $$$ TRILLIONS in covid handouts (mostly as bribes to get votes) **including** to federal workers who ***never lost a single paycheck***? We now know how that worked out.
I’m amongst the older FFELL loan recipients who won’t benefit from this forgiveness proving that this stunt is just to buy votes. College age kids are part of the Democrat voter base. Luckily the youth like to rally not actually show up and vote.
10k is NOTHING for the many of us who hold graduate or professional degrees financed by loans.
This is more for the wealthy! $250k income limit for couples and $125k for single people? If I made $125, my debt would be gone by now!
This does not teach or encourage personal responsibility. These kids will now buy homes (and inflate home prices even more!) and then expect mortgages to be canceled.
How on earth does this address the ridiculous high tuition? It doesn’t.
For all the folk who were talking about (a) Endowments, (b) the minuscule fraction of students who go to elite private universities, (c) major choice, etc. Princeton just announced that it will be FREE to attend Princeton for any family earning less that $100,000 per year (full tuition and room and board). Aggressive financial aid has always been in place, but they will extend this aid up to $150,000 in income. (Obviously, thereafter, aid still exists, it simply won’t be free/as heavily reduced.) Princeton has the highest endowment per student in the country. Look for other wealthy schools to match this very shortly (almost all of the top schools have similar programs already, just a question of where the income cutoff is).
The biggest issue with the student loan crisis right now remains Public/State universities and community colleges, where the vast majority (75%+) of all students go.
Since Ro and so many Democrats are such boosters of debt cancellation, I would be interested in learning how much he (and they) have personally paid from their annual income over the past 10 years to pay for strangers’ college educations. Bet we all know the answer to that one!
Here are a few ideas: (1) Eliminate or drastically limit government (i.e. taxpayer)-subsidized college education. The number one effect of our “the sky’s the limit” subsidy policy has been to make college virtually unaffordable; (2) since the colleges all think subsidies are such a nifty idea, cancellation of student debt should begin with forcing universities to cough up 75 percent of their endowment funds; (3) to the extent we have federally subsidies, they should be limited to degree programs with a calculable economic value, and to remain eligible for such programs, students should be required to show satisfactory progress at least annually in any subsidized program.
How precisely does cancelling student debt help working class Americans, many of whom never went to college in the first place, or chose the frugal alternative of two years at a community college, possibly followed by two at a four-year college or university, and as a result ran up very little debt, which, unless they are new grads they have paid down? The cancellation of student loans will inflate the money supply and when that filters through to price inflation, as it inevitably will, will most of all harm the working poor, many of whom went to trade school, or got jobs just out of high school, those on fixed incomes, and those subsisting on social benefits. It will also encourage tuition hikes by cynical university administrators/boards of trustees/boards of regents who will see it as setting a pattern (oh, look, it almost instantly filtered through into price inflation in higher ed!)
Cancelling student loans mostly benefits the scions of the professional managerial class while harming everyone, but harming the poor most of all. Since when do "progressives" trample on the interests of the poor to benefit the better off? Honestly, Congresman Khanna, are you a simply demagogue who knows better, and is saying whatever seems expedient to your party's cause, or are you truly so economically illiterate as to not see the inflationary effect and so morally illiterate to think that it's fine to make chumps out of everyone who did the honest thing and sacrificed current pleasures to pay their loan, perhaps even ahead of schedule? Also will you be introducing legislation to provide an actual legal and constitutional basis for student loan cancellation, whether in Pres. Biden's amounts your favored larger amount, since cancelling debts to the Federal government by Presidential decree is not only economically and morally unsound but unconstitutional, as the power of the purse rests with Congress not the executive?
We have to reform higher education and attack the problem at it's root. What good is student loan debt forgiveness if we are doing nothing to prevent our children ending up in the same exact situation. With how fast tuition is rising, how long will it be before we accumulate the same, or more debt, than we have now (pre forgiveness)? I suspect not long.
The problem with Leftists (progressives, communists, fill in the blank) is not that they "don't do math." It's that they can't.
Everything is always paid for. Get that through your thick skull, "Ro." Everything. Is. Always. Paid. For. Somebody pays for every government adventure, whether it's $85 billion in military equipment abandoned in the desert for our enemies to use in killing our sons and daughters, or over a trillion dollars transferred to colleges and universities in "forgiven student debt" used to kill their minds.
In a nation where a large portion of the population is barely making it, Alleged President Asterisk is now using his executive power to heap additional burden onto taxpayers who are already staggering under the load of his fiscal irresponsibility - and to be fair, that of his predecessors, Democrat and Republican alike. Every dollar given to someone who didn't earn it was taken by force from someone who did. If you don't think force is involved, don't pay your taxes next year and see what happens.
Ronald Reagan was right: The nine most terrifying words in the English language are, ‘I’m from the government and I’m here to help."
This was an amusing piece to read because it’s so chock full of progressive whining and complete absence of any objective reasoning. It’s all emotion. Pay off my loans because poor me! Make higher education free for everyone!
Biden doesn’t have the authority to do what he’s proposing - outright cancellation of $300B in debt. Only Congress can do that. I suspect he’ll find that out soon enough. And if it did happen it would 100% cause inflation to rise because it would in effect inject that $300B into the economy overnight. Besides that it robs the poor to pay for the well-off. That money has to come from somewhere, and “cancelling” it doesn’t delete it, it just transfers it to taxpayers, thanks to Obama’s takeover of college loans from the banks.
If you cannot afford to pay for a loan, then don’t take out the loan. This is not rocket science. If you take one out, you are on the hook to pay for it, not anybody else. Shirking that responsibility is not AND SHOULD NOT be tolerated by society because it is wrong. It is immoral.
Still can't get over the fact that Biden could have passed student loan forgiveness LEGALLY by having Congress vote on it - when Democrats controlled both houses. FFS
The US also has affordable higher education. It's called in state colleges as well as community colleges. Why do people always willfully choose not to present that fact whenever speaking on the costs of higher education?
Can you provide sources for the last comment about China? That's a wide ranging statement to include without a single link.
So wrong and utterly facile on so many levels. Mr. Khanna keeps citing “institutes” and “Nobel laureates” as if that should impress us. The NYT’s Paul Krugman is also a Nobel laureate and we’ve learned time and time again if you’re implementing an economic policy you should do basically the opposite of whatever Krugman says. It’s like some doctor who gets a Nobel for their work on a toe fungus and thus making them your general surgeon, neurologist, urologist and everything else.
And since liberals are obsessed with “assaults on democracy!!!” I’m wondering where he falls on a single guy in the White House who, overriding endless laws enacted by - gasp! - *elected legislatures*, writes his *own* laws forcing yet another $1/2 TRILLION(!!) onto American taxpayers. Wow! Talk about using your “pen and a phone” as Obama liked to *brag* while he ignored endless laws written also by elected legislatures. (And our “watchdog of democracy” “media” adored all of it.)
And of course, Khanna conveniently ignored - as always - how any of this is fair to the parents who saved for **decades** to pay for college so their kids wouldn’t have debt after graduation. While ridiculing DeSantis, Khanna never explained how he was wrong.
Simply **giving** a black kid $50,000 would increase their wealth? Ya think? Same for me! In fact, didn’t Democrats just try that disastrous policy by simply giving $$$ TRILLIONS in covid handouts (mostly as bribes to get votes) **including** to federal workers who ***never lost a single paycheck***? We now know how that worked out.
I’m amongst the older FFELL loan recipients who won’t benefit from this forgiveness proving that this stunt is just to buy votes. College age kids are part of the Democrat voter base. Luckily the youth like to rally not actually show up and vote.
10k is NOTHING for the many of us who hold graduate or professional degrees financed by loans.
This is more for the wealthy! $250k income limit for couples and $125k for single people? If I made $125, my debt would be gone by now!
This does not teach or encourage personal responsibility. These kids will now buy homes (and inflate home prices even more!) and then expect mortgages to be canceled.
How on earth does this address the ridiculous high tuition? It doesn’t.
Why not just let us refinance our loans?!?
For all the folk who were talking about (a) Endowments, (b) the minuscule fraction of students who go to elite private universities, (c) major choice, etc. Princeton just announced that it will be FREE to attend Princeton for any family earning less that $100,000 per year (full tuition and room and board). Aggressive financial aid has always been in place, but they will extend this aid up to $150,000 in income. (Obviously, thereafter, aid still exists, it simply won’t be free/as heavily reduced.) Princeton has the highest endowment per student in the country. Look for other wealthy schools to match this very shortly (almost all of the top schools have similar programs already, just a question of where the income cutoff is).
The biggest issue with the student loan crisis right now remains Public/State universities and community colleges, where the vast majority (75%+) of all students go.
https://www.cnn.com/2022/09/10/us/princeton-university-financial-aid-trnd/index.html
What nonsense!
Why not? We can always just print more money. Soon it will be worth just as much as Monopoly money. You can't make stuff like this up.
Since Ro and so many Democrats are such boosters of debt cancellation, I would be interested in learning how much he (and they) have personally paid from their annual income over the past 10 years to pay for strangers’ college educations. Bet we all know the answer to that one!
Here are a few ideas: (1) Eliminate or drastically limit government (i.e. taxpayer)-subsidized college education. The number one effect of our “the sky’s the limit” subsidy policy has been to make college virtually unaffordable; (2) since the colleges all think subsidies are such a nifty idea, cancellation of student debt should begin with forcing universities to cough up 75 percent of their endowment funds; (3) to the extent we have federally subsidies, they should be limited to degree programs with a calculable economic value, and to remain eligible for such programs, students should be required to show satisfactory progress at least annually in any subsidized program.
How precisely does cancelling student debt help working class Americans, many of whom never went to college in the first place, or chose the frugal alternative of two years at a community college, possibly followed by two at a four-year college or university, and as a result ran up very little debt, which, unless they are new grads they have paid down? The cancellation of student loans will inflate the money supply and when that filters through to price inflation, as it inevitably will, will most of all harm the working poor, many of whom went to trade school, or got jobs just out of high school, those on fixed incomes, and those subsisting on social benefits. It will also encourage tuition hikes by cynical university administrators/boards of trustees/boards of regents who will see it as setting a pattern (oh, look, it almost instantly filtered through into price inflation in higher ed!)
Cancelling student loans mostly benefits the scions of the professional managerial class while harming everyone, but harming the poor most of all. Since when do "progressives" trample on the interests of the poor to benefit the better off? Honestly, Congresman Khanna, are you a simply demagogue who knows better, and is saying whatever seems expedient to your party's cause, or are you truly so economically illiterate as to not see the inflationary effect and so morally illiterate to think that it's fine to make chumps out of everyone who did the honest thing and sacrificed current pleasures to pay their loan, perhaps even ahead of schedule? Also will you be introducing legislation to provide an actual legal and constitutional basis for student loan cancellation, whether in Pres. Biden's amounts your favored larger amount, since cancelling debts to the Federal government by Presidential decree is not only economically and morally unsound but unconstitutional, as the power of the purse rests with Congress not the executive?
We have to reform higher education and attack the problem at it's root. What good is student loan debt forgiveness if we are doing nothing to prevent our children ending up in the same exact situation. With how fast tuition is rising, how long will it be before we accumulate the same, or more debt, than we have now (pre forgiveness)? I suspect not long.
Shouldn't there be constitutional constraints on political incumbents buying votes with tax dollars?
For someone from the "party of fairness," this illogical piece heightens the hipocrisy of Biden's unconstitutional vote-getter scam.
The problem with Leftists (progressives, communists, fill in the blank) is not that they "don't do math." It's that they can't.
Everything is always paid for. Get that through your thick skull, "Ro." Everything. Is. Always. Paid. For. Somebody pays for every government adventure, whether it's $85 billion in military equipment abandoned in the desert for our enemies to use in killing our sons and daughters, or over a trillion dollars transferred to colleges and universities in "forgiven student debt" used to kill their minds.
In a nation where a large portion of the population is barely making it, Alleged President Asterisk is now using his executive power to heap additional burden onto taxpayers who are already staggering under the load of his fiscal irresponsibility - and to be fair, that of his predecessors, Democrat and Republican alike. Every dollar given to someone who didn't earn it was taken by force from someone who did. If you don't think force is involved, don't pay your taxes next year and see what happens.
Ronald Reagan was right: The nine most terrifying words in the English language are, ‘I’m from the government and I’m here to help."
I don’t partake, but I might be tempted to try some of what you’re smoking.
This was an amusing piece to read because it’s so chock full of progressive whining and complete absence of any objective reasoning. It’s all emotion. Pay off my loans because poor me! Make higher education free for everyone!
Biden doesn’t have the authority to do what he’s proposing - outright cancellation of $300B in debt. Only Congress can do that. I suspect he’ll find that out soon enough. And if it did happen it would 100% cause inflation to rise because it would in effect inject that $300B into the economy overnight. Besides that it robs the poor to pay for the well-off. That money has to come from somewhere, and “cancelling” it doesn’t delete it, it just transfers it to taxpayers, thanks to Obama’s takeover of college loans from the banks.
If you cannot afford to pay for a loan, then don’t take out the loan. This is not rocket science. If you take one out, you are on the hook to pay for it, not anybody else. Shirking that responsibility is not AND SHOULD NOT be tolerated by society because it is wrong. It is immoral.