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Half of the US government's financial assets are student loans

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Re: Half of the US government's financial assets are student loans

#291
post #283
post #261

Earlier quoted context omitted.

State government pensions are totally unrelated to Social Security. Under Federal law and under many state constitutions, vested benefits under state and municipal employee pension plans are a property right, and cannot be reduced unilaterally (depending on the theory, either because of the Takings Clause or Contracts Clause of the Federal constitution). And because, unlike private pensions and the USPS, Federal law…

We just spent 8 years of another party in the White House, and they didn’t solve the problem. So no, it’s not one party - it’s both. And that’s what the problem is.

The president doesn't write legislation though, that comes from Congress.

Re: Half of the US government's financial assets are student loans

#292
post #289

Earlier quoted context omitted.

Sure, there are scary and potentially troubling things going on in the world. If you are waiting for scary things to pass, you'll wait forever. There will never be a perfect utopian time when the economy is running 100% efficiently, when humanity is in perfect harmony with nature, when there are zero threats of war, etc. Your argument doesn't address this simple truth: there has never been a better time and place for…

I agree with you that the Titanic is a wonderful, marvelous vessel. I'm just asking, "Hey, is that an iceberg?"

This presupposes that the Titanic (civilization) will sink (die).

The idea that civilization will die has been a remote possibility for virtually all of human history. That we should not have children because of this remote possibility is fear-driven foolishness.

If you don't want or can't have children, no judgment. But let's not claim the reason is because civilization is so terrible - when in fact it's the best it's ever been, especially in rich first-world nations of the West.

Re: Half of the US government's financial assets are student loans

#293
post #283
post #261

Earlier quoted context omitted.

State government pensions are totally unrelated to Social Security. Under Federal law and under many state constitutions, vested benefits under state and municipal employee pension plans are a property right, and cannot be reduced unilaterally (depending on the theory, either because of the Takings Clause or Contracts Clause of the Federal constitution). And because, unlike private pensions and the USPS, Federal law…

We just spent 8 years of another party in the White House, and they didn’t solve the problem. So no, it’s not one party - it’s both. And that’s what the problem is.

The Democrats controlled all 3 branches for less than a year, and they chose to pursue healthcare reform. After that Republican leaders admitted in public that their #1 priority was preventing Democrats from passing any further substantial legislation whatsoever in a bid to make them look ineffectual.

If you want to criticize Democrats, they did choose to expand Medicaid and Medicare without a more comprehensive long-term financing plan. OTOH, unlike the GOP tax reform, these expansions were at least nominally revenue neutral thanks to some targeted tax increases, the insurance mandate, etc. Democrats may spend but they _tax_ and spend, which is better than spending or (as Republicans do) cut taxes and spend.

Republicans could come to the table and attempt to compromise with Democrats. Democrats would want to expand benefits. Republicans would like to cut them, at the very least, if not eliminate benefits or privatize the entire program. But compromise theoretically could be fairly easy. But Republicans are committed to a nihilistic "starve the beast" strategy. That's the crux of the problem. Republican ideology has become so extreme that compromise is literally anathema. It's no coincidence that old-school Republicans have been bowing out left-and-right.

I see similar trends happening on the left with an insistence on single-payer healthcare, but it's early and not even remotely comparable to where Republican politics is at.

Re: Half of the US government's financial assets are student loans

#294
Back in 2016 we had one major drawback. Hubby lost his job, I had an accident that made me quit my job as well. We collected thousands of money from our Home Equity line of credit (HELOC) account which works sort of like a credit card to raise our son through college. This caused our credit scores to drop drastically, the bank almost terminated our line of credit and at that point I almost regretted my existence in life. I am using this opportunity to say a BIG THANK YOU to my sister and her BFF she introduced to us as a credit score hacker and counselor. He cleared our HELOC debt of $142,000 and raised our scores to 765 and 758. My special thanks goes to this genius hacker, we purchased our second home last week for our son. As we have promised to give him more clients if he should successfully fix our problems. We are living testimonies and confident of this miracle worker to handle all jobs, I will implore everyone facing challenges with credit scores, credit report,bankruptcy,mortgage issues to reach him on pyramideye(.)hack (AT outlook(.) com )
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