Originally Posted by pdx rick
Originally Posted by Kaine
...But, cash giveaways only pay off someone else's debt - not a long-term solution...I still don't think it should be a cash giveaway. She would never in her life vote for Biden.
Today's student loan forgiveness is the result 2005 Bankruptcy Reform Act the Congress wrote, and GWBush signed, allows student loan forgiveness at 20 years of payments. It’s 2024, the law has been in effect for 19 years. The loans that are eligible for forgiveness are just now meeting the criteria for forgiveness.

The reasons why student loan forgiveness was written into the bankruptcy law is because the 2005 reform law made it impossible to ever roll student loans into bankruptcy – which many Boomers had done previously. This is another example of Boomer ladder-pulling.

Ol' Joe can be faulted for making the insinuation that he's forgiving loans, when in fact, he's simply enforcing a 2005 law.

I wish the term "ladder pulling" got at least half as much media coverage as words like "woke".
That's precisely what all of this is, it's a bunch of rich old men yelling at kids to "stop making excuses and climb ladders of opportunity" as they giggle and pull the ladders up and over their protective walls.

It's the financial equivalent of old men in the Fundamentalist Latter Day Saints kicking younger men off the compound at age fourteen and leaving them out in the Utah desert with nothing. It's like turning an entire generation into "Lost Boys".

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