Could his motivation have been to cover the tracks of another yet to be uncovered fraud event, possibly rivaling that of Minnesota? The $9B alone of fraud could have funded approx 27 F-22's for example. Serious funds.

I thought Biden pushed for cancellation of student loans.

The military gets plenty of funding, I'd suggest the 9B be used elsewhere.

Everything that was put forward by the Biden mafia was based on fraud..

Biden wasn't smart enough for that. Besides, the Democrats never thought their NGO/non-profit racket would be discovered.

Biden was flat out trying to buy votes.

FCBlitz said:

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Could his motivation have been to cover the tracks of another yet to be uncovered fraud event, possibly rivaling that of Minnesota? The $9B alone of fraud could have funded approx 27 F-22's for example. Serious funds.

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He's a democrat so yes, it was an attempt to hide fraud.

one safe place said:

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I thought Biden pushed for cancellation of student loans.

The military gets plenty of funding, I'd suggest the 9B be used elsewhere.

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Student loans are carried by banks who have to be repaid by someone, either the borrower which would be logical or the taxpayer in the case of cancellation. Using the word "cancel" is a verbal sleight of hand.

Quote:

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Student loans are carried by banks

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I thought I read somewhere 90% of student loans are now carried by the federal government?

Ag87H2O said:

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Biden wasn't smart enough for that. Besides, the Democrats never thought their NGO/non-profit racket would be discovered.

Biden was flat out trying to buy votes.

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Not sure if serious

Biden was an establishment puppet 100%


He made zero decisions, he parroted what he was told (or tried to anyway)

Quote:

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I'd suggest the 9B be used elsewhere.

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I'd suggest that there is no extra 9B.

In fact, I'd go furrther and say there is no extra 900B to spend.

Obama takes over Sallie Mae and taxpayers now back student loans.

Colleges and universities go nuts and cash in on stupid people getting worthless degrees and tuition outpaces inflation by a large margin.

Now you have a large portion of mouth breathers, that signed a contract, that should never have gone to college are now carrying the equivalent of a mortgage and aren't qualified to earn squat.

They were cheated, robbed by capitalism and need the Government to bail them out.

Go back to the way it was and loans were granted on the ability to pay them back. Call them discriminatory if you will, but it was based on logic not feelings.

This was a ploy by Biden's masters to buy votes.

doubledog said:

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Everything that was put forward by the Biden mafia was based on fraud..

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Including Biden himself.

Pichael Thompson said:

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Ag87H2O said:

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Biden wasn't smart enough for that. Besides, the Democrats never thought their NGO/non-profit racket would be discovered.

Biden was flat out trying to buy votes.

---

Not sure if serious

Biden was an establishment puppet 100%


He made zero decisions, he parroted what he was told (or tried to anyway)

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Ok, if we're splitting hairs, Bidens handlers were flat out trying to buy Biden votes.

The point was, I don't think Biden was trying to hide anything, it came down to the raw desire to win the election, and he/they felt like by forgiving student loans would get him a lot good will which would translate to electoral support.

The reason the Dems took over student loans was to use it to help show Obamacare as deficit neutral, since that was a reconciliation act and had to be neutral.

It was supposed to generate significant savings by removing wasteful subsidies to banks and capture more revenue/profits from interest and repayments. It not only has not done that, it has lost billions!

Logos Stick said:

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The reason the Dems took over student loans was to use it to help show Obamacare as deficit neutral, since that was a reconciliation act and had to be neutral.

It was supposed to generate significant savings by removing wasteful subsidies to banks and capture more revenue/profits from interest and repayments. It not only has not done that, it has lost billions!

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Basically normal gov't interference screwing something FUBAR!

Pichael Thompson said:

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Ag87H2O said:

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Biden wasn't smart enough for that. Besides, the Democrats never thought their NGO/non-profit racket would be discovered.

Biden was flat out trying to buy votes.

---

Not sure if serious

Biden was an establishment puppet 100%


He made zero decisions, he parroted what he was told (or tried to anyway)

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Biden was/is an establishment puppet 100%...unfortunately that does not make him unique among US Senators, US Representatives, US Judges, US military leaders, Trump's cabinet, the US State department.....

Gilligan said:

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Obama takes over Sallie Mae and taxpayers now back student loans.

Colleges and universities go nuts and cash in on stupid people getting worthless degrees and tuition outpaces inflation by a large margin.

Now you have a large portion of mouth breathers, that signed a contract, that should never have gone to college are now carrying the equivalent of a mortgage and aren't qualified to earn squat.

They were cheated, robbed by capitalism and need the Government to bail them out.

Go back to the way it was and loans were granted on the ability to pay them back. Call them discriminatory if you will, but it was based on logic not feelings.

This was a ploy by Biden's masters to buy votes.

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And of course, the left gets a whole new wave of young Marxists who definitely know how to make socialism work this time.

Nothing more than pure pandering to potential voters.

Apache said:

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Quote:

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Student loans are carried by banks

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I thought I read somewhere 90% of student loans are now carried by the federal government?

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This is correct, at least for new loans. New college student loans are typically funded by Treasury. I don't think that 90% of outstanding loans are held by the US government, but I could be wrong.

LOYAL AG said:

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Student loans are carried by banks who have to be repaid by someone, either the borrower which would be logical or the taxpayer in the case of cancellation. Using the word "cancel" is a verbal sleight of hand.

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Actually, a bulk of student loans are not carried by banks, sadly. Not saying that changes the reality of who would be paying in a "cancel" situation, but there'd be no actual $ flowing to settle the debt to a lending institution.

Edit: I see this has been resolved just above me. Co-pilot says there is $1.67 trillion in federal student loan debt. Ouch.

Apache said:

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Quote:

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Student loans are carried by banks

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I thought I read somewhere 90% of student loans are now carried by the federal government?

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It appears you're right. Forgive me for assuming logic would prevail here.

Could be, but at the core of it was vote buying.

Offer free ****, dummies will vote for you.

I agree, but are the masses really paying attention to the dem/NGO fraud and abuse??? I sure hope so, but it doesn't really feel like it's moving the needle the way it should.

I've been saying for years that there should be no deficit. When the govt takes in 4 to 5 trillion in tax revenue, there is absolutely NO reason why you should spend more than you take in.

But govt always finds a way to abuse and defraud the taxpayers.