WaPo editors: Biden's Academia bailout is "a regressive, expensive mistake"

[royboy]

Couldn't even get the support of the Washington Post, a virtual Democrat house organ.

WaPo editors: Biden's Academia bailout is "a regressive, expensive mistake"

Bailout.

hotair.com

...In other words, this plan is dishonestly predicated, likely illegal, will blow out the deficit, hammer the working class, and do nothing to solve the actual problems with the student-loan program. So why do it, especially this close to an election? It may buy votes, sure, but that’s not the biggest issue facing Biden and the Left. It’s that the increasingly strident demands for loan forgiveness shows that the entire idea of student loans is a failure — one which fails to improve the lives of its recipients in proportion to their investment.

It’s a bailout of the borrowers, but also a bailout of Academia and its economic model.

The higher-education economic model needed a reckoning for years, perhaps decades, especially with its student-loan incentives. Federal loan guarantees incentivized demand, which in turn allowed tuitions to soar, which in turn made loans more and more burdensome. Colleges and universities raked in the cash while expanding their influence, so it certainly paid off for them.

 

[bdgan]

Couldn't even get the support of the Washington Post, a virtual Democrat house organ.

WaPo editors: Biden's Academia bailout is "a regressive, expensive mistake"

Bailout.

hotair.com

...In other words, this plan is dishonestly predicated, likely illegal, will blow out the deficit, hammer the working class, and do nothing to solve the actual problems with the student-loan program. So why do it, especially this close to an election? It may buy votes, sure, but that’s not the biggest issue facing Biden and the Left. It’s that the increasingly strident demands for loan forgiveness shows that the entire idea of student loans is a failure — one which fails to improve the lives of its recipients in proportion to their investment.

It’s a bailout of the borrowers, but also a bailout of Academia and its economic model.

The higher-education economic model needed a reckoning for years, perhaps decades, especially with its student-loan incentives. Federal loan guarantees incentivized demand, which in turn allowed tuitions to soar, which in turn made loans more and more burdensome. Colleges and universities raked in the cash while expanding their influence, so it certainly paid off for them.

I disagree with the author. This wasn't a mistake. It's fiscally irresponsible but it was done on purpose.

 

[m.knox]

I disagree with the author. This wasn't a mistake. It's fiscally irresponsible but it was done on purpose.

Biden is so damn lousy that he had to give someone something to gain favor.

 

[NJPSU]

 

[bdgan]

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What a dumb post

 

[Obliviax]

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huge differences between the two.

nobody forced a kid to take out a $50,000 loan to get a music appreciation or Thespian! degree.

Consequences are what is required to learn and make changes. Wihtout consequences, you are simply an enabler.

So what will this do? it will simply underwrite stupid "college major" decisions or worse, allow people to drop out before getting their degree, for free. Second, it simply underwrites the ridiculous and exorbitant fees universities continue to charge without revisiting the cost/benefit ratio of such expenditures.

Not only has biden created more of the same, he's made it worse.

 

[jferretti]

Biden is so damn lousy that he had to give someone something to gain favor.

Well it's not a novel idea. Betsy DeVoss had to send Trump a memo explaining that loan forgiveness was outside of the Executive's authority.

 

[m.knox]

Well it's not a novel idea. Betsy DeVoss had to send Trump a memo explaining that loan forgiveness was outside of the Executive's authority.

Evidently Betsy was wrong.

 

[interrobang]

If there actually was any blue gains following RvW, this definitely reverses them.

 

[m.knox]

What a dumb post

Ron Filipkowski...... NJ's twitter icon.....

I wonder if NJ has a custom notification for when Ron tweets...... Like his cell phone would say "It's Ronnie time" every time one comes in......

 

[interrobang]

 

[m.knox]

Biden Admin Deals Nasty Blow to Social Fairness and Trust

Biden's student loan forgiveness is costly for taxpayers and bad for higher education​

 

[psuted]

If there actually was any blue gains following RvW, this definitely reverses them.

Totally agree, I think this move was politically stupid and will piss off many more people than will support the stupidity. I can’t believe that team Biden and Democrats would be this stupid.

 

[bourbon n blues]

I disagree with the author. This wasn't a mistake. It's fiscally irresponsible but it was done on purpose.

Agreed

 

[bourbon n blues]

Totally agree, I think this move was politically stupid and will piss off many more people than will support the stupidity. I can’t believe that team Biden and Democrats would be this stupid.

Agreed except for your last sentence lol.

 

[BW Lion]

What I find interesting is that most of the people with significant, life-altering student debt loads AND the inability to repay same in a timely fashion are likely Libtards and were going to vote Blue in the mid-terms anyway. Biden's illegal give away may actually cost the D's votes in November especially because D's who repaid (or were timely repaying) their loans are rightfully pissed.

 

[bourbon n blues]

What I find interesting is that most of the people with significant, life-altering student load debt AND the inability to repay same in a timely fashion are likely Libtards and were going to vote Blue in the mid-terms anyway. Biden's illegal give away may actually cost the D's votes in November especially because D's who repaid (or were timely repaying) their loans are rightfully pissed.

I’ve found that many successful democrats live fairly conservatively. And I think your observation is correct here.

 

[Hotshoe]

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This is arguably, the dumbest post from your hero. First off, the President doesn't have any authority to do this. 2nd, the Congress voted for PPP. 3rd, the government, and mostly states, shut down business by executive orders.

Just how dumb are you and your hero, Ron the Ignorant?

 

[Vic Vaselino]

If there actually was any blue gains following RvW, this definitely reverses them.

Nope.

 

[dailybuck777]

Couldn't even get the support of the Washington Post, a virtual Democrat house organ.

WaPo editors: Biden's Academia bailout is "a regressive, expensive mistake"

Bailout.

hotair.com

...In other words, this plan is dishonestly predicated, likely illegal, will blow out the deficit, hammer the working class, and do nothing to solve the actual problems with the student-loan program. So why do it, especially this close to an election? It may buy votes, sure, but that’s not the biggest issue facing Biden and the Left. It’s that the increasingly strident demands for loan forgiveness shows that the entire idea of student loans is a failure — one which fails to improve the lives of its recipients in proportion to their investment.

It’s a bailout of the borrowers, but also a bailout of Academia and its economic model.

The higher-education economic model needed a reckoning for years, perhaps decades, especially with its student-loan incentives. Federal loan guarantees incentivized demand, which in turn allowed tuitions to soar, which in turn made loans more and more burdensome. Colleges and universities raked in the cash while expanding their influence, so it certainly paid off for them.

Practical effect of this is to make what was a loan program a give away. Will either kill the student loan program or greatly diminish the amounts that are given away.