Home of the sh.itjust.works instance.
So we apparently decided that millionaires could get COVID loans forgiven and moved on, but regular folks can't get any student loan forgiveness.
Every day I'm more disappointed in my home country.
we didn't decide anything, the mechanism the elite put into our government to prevent true democracy once again worked for them and against us. Just like the Citizen's United case.
Abort the Supreme Court
Judical branch is in place to protect the rights of the few and Constitution so it plays a role. The issue is that the justices defend the powerful rather then thepeoples.
I know the marketing spiel, but I'm talking about how it actually historically functions. In the fine print 'the rights of the few' = 'existing rich people / old money'
Especially since the supreme court never sides with the few when it has the opportunity to grow a spine. Ie: "Jim Crow", "slavery"", internment camps", etc
somehow every kind of bank, business, and rich person can get tax breaks, and bail outs yet average middle class people can't get some help on their student loans.
I remain unconvinced the states had standing sue here. They were not affected parties
This is a terrible precedent. Some federal action might affect a company which might pay the state taxes at some point so the states get to sue now? That could apply to nearly anything the federal government does! This is a terrible ruling for so many reasons. Naked partisan hackery by the conservative judges. The court needs reform badly.
dam so they paying back all the PPP money they ~~stole~~ used??
This looks silly from an outside perspective:
IIRC the special thing about student loans in the US is that you cannot default out of them. So even if I go through bankruptcy, I will still owe this specific debt.
The obvious fix would be to deny student loans this special treatment.
I could imagine that this would also have a positive effect on the cost of tuition in the US, as the collection of these stupidly high debts would be far from guaranteed.
edit: spelling
The obvouis fix would be to deny student loans this special treatment.
Unfortunately we're not going to get this anytime soon. The Republicans are against it, and Biden was the one who introduced the bill making student loans work this way.
Cancel predatory loans, that lead to high tuitions, first...
Had a feeling this would happen unfortunately. I have a lot of student loans for my graduate degree and even if they would put the interest rate at something reasonable that would be so much better than the rates that are currently set
Disappointed, but it makes sense that decisions with such huge implications should be clearly made by the legislative branch, not just at the whim of some executive department.
yep. if something like debt forgiveness has a lot of bipartisan support, it should be an easy bit of legislation to pass.
It does have bipartisan support, this is repeatedly shown in polling. But it doesn't matter what voters want. The interests of capital will be served above all else because of decades of antidemocratic moves.
Antidemocratic moves like
The US is just an oligarchy at this point and it's getting harder and harder for me to stay optimistic about getting out of it.