What's new
By:
Filters

Student loan repayment pause about to un-pause

Texas97 said:
your tax dollars pay for it. or more accurately, some amount of money we dont have and are borrowing from someplace else will pay the loans to all the providers.

we are currently spending much more money than we intake in the government so whats another 39 billion.
Click to expand...
Yep. Remember how they "made progress" on cutting the debt because of that spending bill that cut it by a fraction of percent? But that bill didnt contain defense spending or the latest ukraine spending or this. In other words nothing will change Lance....
 
Baldy said:
This, I'm a boomer and don't understand how I ruined this country. I came from a really poor family went to bed hungry a lot, got my first job @ 10 years old at $1.00 an hour. At 18 knew I couldn't afford college so with no other option enlisted did 5 years. Got out and used my military experience to get a good paying job. Worked hard, volunteering for every overtime shift I could get, worked most holidays. Didn't live outside my means, saved what I could, made a lot of sacrifices to get financially ahead and after 30 years ended up with a decent retirement.
Now I get told by the younger generation I ruined America. Someone please explain to me as you would a child how I managed to that.
Click to expand...
I'm still waiting for the explanation.
 
Baldy said:
I'm still waiting for the explanation.
Click to expand...

Who had the steering wheel when the following was occurring?

YOU aren't personally responsible for overall impact of your generation. You can't conflate the two. But make no mistake, Boomers have been in control of the United States economic and political engines since 1998. (Boomer Dominance Means More of the Same in the 114th Congress | Brookings).

Debt:

1693348043786.png


College Costs:

1693348126651.png


Housing Costs:

1693348285877.png


Child care, grocery, transportation costs:

1693348322460.png


And the best of all, wage growth looks like a limp noodle:

1693348513572.png


Here's a decent read that sums it up alright:


When you look at the numbers, the advantages boomers have enjoyed are breathtaking. Start with the economy. Boomers went to work in a job market that their children rightly romanticize. It delivered living-wage work for wide swaths of Americans, even those who didn’t go to college, which by the way cost a fraction of what higher education costs today, even after you adjust for inflation. A single earner could provide for a family. Employees could reasonably expect to advance in their companies and work their way into the middle class. Incomes grew across the board.

Did that [boomer] majority sock away money for future safety-net costs? No. Pols talked about putting budget surpluses in a “lockbox,” but not for long. Instead they cut their own taxes, they deficit-financed two wars, they approved a new Medicare prescription drug benefit that their generation will be the first to enjoy in full. Partly as a result of those policies, the federal budget deficit has averaged 4 percent of GDP in the Bush/Obama era, more than double the average rate of the 50 years before that. Boomers let federal debt, as a share of the economy, double from where it was in 1970.

Meanwhile, they stood by while the economic bargain that lifted them as young workers began to unravel for their children. They opened global trade and watched millions of U.S. manufacturing jobs vanish; research by MIT economist Daron Acemoglu and colleagues suggests that normalized trade with China, the biggest driver of those losses, has by itself cost America at least 2 million jobs.

Boomers let public investments in research and development — a critical driver of future prosperity — fall steadily as a share of the economy; they’re down from 1.2 percent of GDP in 1976 to 0.8 percent today, a decline of one-third. In the 15 years boomers have been running Congress, economic growth has slid well below the average of a generation ago — to 1.9 percent a year, down from 3.2 percent for the preceding 25 years. Some of the brightest minds of their generation built fortunes working at Wall Street investment banks, then helped drive the economy into its worst recession since the Great Depression.

-----

And yet, even today, you can bet your last dollar that every Boomer vote will be aimed not at making the world a better place for the ones that will inherit it, but instead insuring their cush existence lasts as long as they draw breath. The national debt wasn't important then, it isn't important now, and hey-- we'll be dead soon!
 
Baldy said:
I'm still waiting for the explanation.
Click to expand...
I'm not saying it was you specifically, but Boomers have been hammering college for a long time. I'm 42 and from the time I was 10 until i was 30 all i heard was "you'll get nowhere in life without a college degree." I do think boomers had a significant hand in this mess.
 
midwestzj said:
I'm not saying it was you specifically, but Boomers have been hammering college for a long time. I'm 42 and from the time I was 10 until i was 30 all i heard was "you'll get nowhere in life without a college degree." I do think boomers had a significant hand in this mess.
Click to expand...

Between pushing collage on kids like it's their only hope of not being homeless in life and the "my kid isn't going to grow up like that" attitude towards discipline, the boomers essentially created the entire mess along with a generation of lazy entitled little ****s and in turn those fucksticks created more. Rinse and repeat......
 
Honestly, blaming anything on boomers or anything else is just another scapegoat. Who cares what they did (to some degree). It is in the past. Take what they did, learn from it, and fix it. What good does whining about it change other than you “sound like a boomer”.

I don’t know how to fix everything, but I think the real problem is we have created a society that doesn’t want to work for anything and on the back side, we support them for not doing anything. Real consequences for actions is what will change something. I’m not saying being a dick and going out and ruling with an iron fist. But quit propping people up who don’t want to help themselves. Don’t hate them. Give them opportunities to succeed. But don’t spoon feed them.

That goes for our next generations as well. When the consequence of not working hard led to death, you bet you worked. You also didn’t have time for crime because you were to busy working or got killed for being dumb.
 
I grew up in rural midwest farmland in the 70's & 80's. I remember farmers walking into banks and shooting their ag lender, farmers committing suicide, implement dealership owners committing suicide, etc etc all through the farm crisis. The boomers were telling their kids to go to college so they had some kind of education to fall back on unlike the farmers that had no marketable skills after their farm sales were done. Many boomers had to start over and figure out a way to keep feeding their families. Some were able to get jobs at places like John Deere or Case but many of those jobs were short lived because of massive layoffs. Some like my Dad started driving truck of some sort. My Dad drove milk truck for a family friend for awhile and eventually became an O/O.

When I hear the "bOOmeRs HaD iT sO gOoD" bullshit I keep flashing back to those memories. It was hard times for many throughout the midwest.
 
I don't necessarily blame the boomers for any of my tribulations in life but I can see why they could easily be a scapegoat for the country as a whole. Individuals are responsible for themselves ultimately so take it for what it is.

Boomers got handed a bad ass country that was thriving so they sold it to China and a few other countries and made a killing at the expense of future generations that have to deal with the policies. I get it, they were killing it and enjoying a dollar that had value and newly imported cheap goods started flowing so that dollar went farther and farther. Fast forward to today and we're kinda fucked. Gonna need to do a Ctrl alt Delete one of these days and try again.
 
OutlawRider said:
Honestly, blaming anything on boomers or anything else is just another scapegoat. Who cares what they did (to some degree). It is in the past. Take what they did, learn from it, and fix it. What good does whining about it change other than you “sound like a boomer”.
Click to expand...

People deserve to be vilified ostracized and marginalized for bad actions. And when you are part of a group that does sufficiently bad things to everybody else that group membership is sufficient to justify you being vilified ostracized and marginalized.

Tin Roof said:
I grew up in rural midwest farmland in the 70's & 80's. I remember farmers walking into banks and shooting their ag lender, farmers committing suicide, implement dealership owners committing suicide, etc etc all through the farm crisis. The boomers were telling their kids to go to college so they had some kind of education to fall back on unlike the farmers that had no marketable skills after their farm sales were done. Many boomers had to start over and figure out a way to keep feeding their families. Some were able to get jobs at places like John Deere or Case but many of those jobs were short lived because of massive layoffs. Some like my Dad started driving truck of some sort. My Dad drove milk truck for a family friend for awhile and eventually became an O/O.

When I hear the "bOOmeRs HaD iT sO gOoD" bullshit I keep flashing back to those memories. It was hard times for many throughout the midwest.
Click to expand...
An anecdote is just that, an anecdote.

If one were to take the experience of the millennials who got into web tech at just the right time and made money hand over fist and project that onto the entire generation they'd be called a dumb-ass and a liar. Well you're doing the exact same thing in reverse.

For every farmer that blew their brains out there were a dozen borderline illiterate dumb-asses riveting spring hangers onto chevys at a wage that paid for two cars and a vacation a year.
And to be frank if you wanna talk about boomers who got "left out" then you should be talking about black people. They (in agregate) almost got out of poverty. But then the "help" the government started giving them in the 60s kept them down.
 
Last edited:
arse_sidewards said:
People deserve to be vilified ostracized and marginalized for bad actions. And when you are part of a group that does sufficiently bad things to everybody else that group membership is sufficient to justify you being vilified ostracized and marginalized.


An anecdote is just that, an anecdote.

If one were to take the experience of the millennials who got into web tech at just the right time and made money hand over fist and project that onto the entire generation they'd be called a dumb-ass and a liar. Well you're doing the exact same thing in reverse.

For every farmer that blew their brains out there were a dozen borderline illiterate dumb-asses riveting spring hangers onto chevys at a wage that paid for two cars and a vacation a year.
And to be frank if you wanna talk about boomers who got "left out" then you should be talking about black people. They (in agregate) almost got out of poverty. But then the "help" the government started giving them in the 60s kept them down.
Click to expand...
Almost like the Unions were in some part to blame. They have been overpaying low intelligence workers for years. Not all unions, but the vast majority of them.
The blacks got fucked, in part, with desegregation. They were building their own economy then that got flipped and they were thrown into the larger white economy. Moving them right back to the bottom of the barrel.
 
yall are fucking nutz, the biggest problem our poor people have is obesity. my grandfather worked two full time jobs for 20 years. he sure as hell wasn't obese and had a wife and 4 kids at home. one car and no air conditioning.
 
arse_sidewards said:
People deserve to be vilified ostracized and marginalized for bad actions. And when you are part of a group that does sufficiently bad things to everybody else that group membership is sufficient to justify you being vilified ostracized and marginalized.


I didn’t say you have to like them. I just said quit blaming your problems on them and work to fix it or shut up. Whining won’t fix anything.
Click to expand...
 
gunracer1 said:
yall are fucking nutz, the biggest problem our poor people have is obesity. my grandfather worked two full time jobs for 20 years. he sure as hell wasn't obese and had a wife and 4 kids at home. one car and no air conditioning.
Click to expand...
I do find it amazing how fat people on stamps can get.
 
OutlawRider said:
I didn’t say you have to like them. I just said quit blaming your problems on them and work to fix it or shut up. Whining won’t fix anything.
Click to expand...
The finger needs to be pointed and some degree of blame needs to be cast because that is a key element of ostracization and marginalization.

Treating people like shit is meaningless. Treating people like shit because of something they are responsible for is meaningful and has a deterring effect on such conduct from other groups.
 
Clemson13 said:
Perks of being a business owner:flipoff2:
Click to expand...

C Corp ( i believe) so the corporate taxes are different than my taxes. my income gets taxed like regular income brackets, not like an S corp where its dividends from the company (taxed at 21%) and the company avoids paying any taxes at all.

that would be nice but its like a 5 year process with the IRS to change to an S corp and im not sold completely on the advantages.
 
D_JEEPER said:
I do find it amazing how fat people on stamps can get.
Click to expand...
amazing? the government subsidizes processed, sugar packed "food" to make it the cheapest thing on the shelf. I bet if that shit had higher taxes due to the health impications, people would stop buying it. How is a 2L of Coke the same price as a gallon of bottled water?
 
midwestzj said:
amazing? the government subsidizes processed, sugar packed "food" to make it the cheapest thing on the shelf. I bet if that shit had higher taxes due to the health impications, people would stop buying it. How is a 2L of Coke the same price as a gallon of bottled water?
Click to expand...
San Francisco actually has a sugar dring tax of .01/oz. Hard to find anything other then diet
 
rockota said:
www.theblaze.com

Biden admin cancels another $72 million in federal student loan debt for 'misled' borrowers | Blaze Media

The Biden administration announced on Wednesday that another $72 million in federal student loan debt would be canceled for the 2,300 borrowers who attended Ashford University based in San Diego, California.As a result of a 2017 lawsuit from the California Department of Justice, the United...
www.theblaze.com www.theblaze.com
Click to expand...
The Biden administration announced on Wednesday that another $72 million in federal student loan debt would be canceled for the 2,300 borrowers who attended Ashford University based in San Diego, California.


So he can cancel debt for ONE particular institution (as scammy as it was) ?

I would love to see Trump cancel the debt just for Trump University. Not because I support it, just because of the chaos that would ensue.
 
Last edited:
midwestzj said:
amazing? the government subsidizes processed, sugar packed "food" to make it the cheapest thing on the shelf. I bet if that shit had higher taxes due to the health impications, people would stop buying it. How is a 2L of Coke the same price as a gallon of bottled water?
Click to expand...

This, the other day, I was behind a couple white trash ladies with the shopping cart full of cheeseburger pizzas and Mountain Dew. They might’ve had 50 meals in their cart for about the cost of five or six meals that were in mine.

Of course it’s much harder to decide the cost of their obesity and the obese young kids they had with them.
 
You must log in or register to reply here.
Top Back Refresh