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Oh come on. Even Democrats aren’t this dumb:

Forgiving the student loan debt of all Americans will have an immediate stimulative effect on our economy. With the stroke of the President’s pen, millions of Americans would suddenly have hundreds, or in some cases, thousands of extra dollars in their pockets each and every month with which to spend on ailing sectors of the economy. As consumer spending increases, businesses will begin to hire, jobs will be created and a new era of innovation, entrepreneurship and prosperity will be ushered in for all. A rising tide does, in fact, lift all boats – forgiving student loan debt, rather than tax cuts for corporations, millionaires and billionaires, has a MUCH greater chance of helping to rise that tide in a MUCH shorter time-frame. The future economic success of this country is wholly dependent upon a well-educated, prosperous middle class. Instead of saddling entire generations with debt from which there is no escape, let’s empower the American people to grow this economy on their own!

Therefore, we, the undersigned, strongly encourage Congress and the President to support H. Res 365, introduced by Rep. Hansen Clarke (D-MI), seeking student loan forgiveness as a means of economic stimulus.

Throw out any conservative ideas you might have about spending, personal responsibility or budget deficits. Let’s tackle this on the liberals’ own terms. As the Freakonomics blog points out, this may be the worst idea ever. It gives tons of money to college grads — a demographic with high income and very low unemployment; it wouldn’t even work in a Keynesian sense; it will not get more people to go to school, and; it creates a new sense of entitlement among college grads.

This isn’t economic policy. This is a bunch of spoiled rotten kids demanding someone pay for their already subsidized education. There’s little question student debt is a pending calamity — it has quintupled over the last decade because of an open-ended commitment by our government to get everyone a college and post-graduate education, whether they need it or not. But this idea, if anything, would make that problem worse (nothing is more expensive than free stuff).

I mean, at least the Democrats want to take the rich and give to the poor. These guys want to take from the rich and give to the … not quite rich yet? I don’t get it.

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  1. Seattle Outcast

    These are the same idiots that think it’s a great idea for banks to revise down (never up) your mortgage principle every time your home changes value and forgive you for any “extra” that you paid “too much” on your home.

    After all, banks are just a public service, right?

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  2. Mississippi Yankee

    Puleez! this is nothing more than attempted vote buying.

    Framing it in any other light is just plain dishonest. Unless of course some troll(s) suggests that Rep. Hansen Clarke (D-MI) isn’t operating under DNC orders.

    Once again let’s use Occam’s razor here folks.

    Therefore, we, the undersigned, strongly encourage Congress and the President to support H. Res 365, introduced by Rep. Hansen Clarke (D-MI), seeking student loan forgiveness as a means of economic stimulus.

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  3. Tripper

    Horrible idea. Aside from it not having the effects they are claiming, it will have the effect of making current and future students all take on as much debt as they can get away with (or are willing to risk) with the view that they can just argue to have it eliminated later.

    After the big down turn in 2008, once it seemed like my job was safe, we tripled our payments on the wife’s student loans with the view that we needed to get them gone and reduce our monthly liabilities. In about 10 months time we’ll be totally done with them (under grad, masters and additional classes since).
    There is no way this idea goes anywhere, but boy would I be pissed off if it did.

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  4. AlexInCT

    Throw out any conservative ideas you might have about spending, personal responsibility or budget deficits.

    So basically the left’s idea of an economic boon is to make those of us that responsibly paid our loans – if we even took any – also pay for others? Shit. why not apply this to mortgages as well. Can you imagine the massive economic boom if all us people paying mortgages suddenly didn’t have to and had all that money to spend? And why stop there? Credit cards? Boats? Cars? Any kind of recreational vehicle? Let’s forgive all outstanding debt and start all over. Hopefully with a two month grace period so I can rack up a few million in credit card debt, new cars, boats, ATVs, and the home I always wanted….

    Fucking liberalism always seems to be about someone shifting responsibility/cost to others. No wonder it that it always fails miserably

    Let’s tackle this on the liberals’ own terms. As the Freakonomics blog points out, this may be the worst idea ever. It gives tons of money to college grads — a demographic with high income and very low unemployment;

    Not to mention the demographic most likely to lack financial discipline to begin with and also likely to take this to mean that they can now go out and borrow even more money hoping to get some other kind of debt amnesty sometime in the future.

    it wouldn’t even work in a Keynesian sense; it will not get more people to go to school,

    Right because the solution to our problem is to send everyone to college. We need a lot more “Womyn studies”, “Sociology”, or “French poetry of the 14th century” grads to ask people if they would like fries with that. At least this way they won’t be in debt to the tune of several tens if not hundreds of thousands of dollars while making low end salaries.

    and; it creates a new sense of entitlement among college grads.

    NO WAY! This would never happens with any such recipient group of government largess at the expense of the productive. I mean, people believe that it is their money they are getting from SS, so they deserve it, aren’t really unknowing entitled fools that don’t even get they are paying into a Ponzi scheme – where one group’s payments used for the pay out of a previous group’s benefits, with that group hoping some other future group will pay theirs – run by government, or something like that.

    I WANT SHIT FOR FREE TOO!

    Working seems to be for suckers.

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