59% of Americans worry student loan forgiveness will make inflation worse, CNBC survey finds

By artappraiser on Tue, 08/23/2022 - 12:33pm |

@ CNBC.com, Aug. 23

KEY POINTS

A CNBC/Momentive poll finds Americans worry that debt forgiveness could have unintended consequences.
Some borrowers say they would not change their spending habits if their college debt — or a portion of it — is canceled.
Respondents were mixed on whether student loan debt should be forgiven....

URL:

https://www.cnbc.com/2022/08/22/americans-are-concerned-student-loan-forgiveness-will-worsen-inflation.html

9955 reads

Comments

I noticed a lot of liberal woke socialist types on Twitter expressing the opinion the 59% thinking this are stupid about economics and don't know what they need.

And then I saw this actual liberal economist say this:

Biden's student cancellation is just about equal to ALL of the new tax revenue raised by the Inflation Reduction Act over the next decade, but concentrated all in one year.

That doesn't seem like a good approach to reducing inflation.https://t.co/usYmfuRzO1
— Noah Smith (@Noahpinion) August 23, 2022

Between this and the IRA's increase in Obamacare subsidies, Dems are still doing the "throw money at overpriced service industries" thing. But at least the Obamacare subsidies went to poor folks.
— Noah Smith (@Noahpinion) August 24, 2022

(It's amazing how often I see woke types unashamedly express elite disdain for the intelligence of the majority of their fellow citizens, as if they don't realize how anti-democratic their statements are. It's like they'd be happy with poll testing.)

by artappraiser on Wed, 08/24/2022 - 12:55am

Correction: ppl show disdain and elitism on the internet, whatever their beliefs.

by PeraclesPlease on Wed, 08/24/2022 - 3:28am

retweeted by Black Lives Matter, currently at the top of their feed:

Black borrowers have nearly twice as much student debt ($52,700) after four years of college as our white peers ($28,000). Student debt cancellation is a racial & economic justice issue. Period.

What would cancelling at least $50k in student debt mean for you?
— Cori Bush (@CoriBush) August 24, 2022

by artappraiser on Wed, 08/24/2022 - 11:29am

The US is forgiving $10,000 in student debt for some borrowers and extending a payment freeze.

Follow live updates: https://t.co/GhsCoMbUoK
— CNN (@CNN) August 24, 2022

by artappraiser on Wed, 08/24/2022 - 12:10pm

the plan is pretty good folks https://t.co/rHbt8wfc47
— ryan cooper (@ryanlcooper) August 24, 2022

by artappraiser on Wed, 08/24/2022 - 2:53pm

As of June 2022, the unemployment rate for people with a bachelor's degree or higher was 2.2 percent. In July 2021 it was 3.5 percent. Hard to argue that these college grads were in an emergency situation during the student loan payment pause. https://t.co/nguyRHuR6b
— Zaid Jilani (@ZaidJilani) August 24, 2022

The HEROES Act of 2003 was passed primarily to benefit the armed services, I don't know that a single Member who voted on it thought it would be used in the future for mass student debt cancellation https://t.co/wATRJyaNZt
— Zaid Jilani (@ZaidJilani) August 24, 2022

This was designed to benefit people who were sent off to war... pic.twitter.com/eLOUxZbs6A
— Zaid Jilani (@ZaidJilani) August 24, 2022

by artappraiser on Wed, 08/24/2022 - 1:48pm

State practices with regard to public college tuition and funding are all over the map in unpredictable ways (Wyoming is the most generous state and Vermont the least), and the relationship between the two variables isn't straightforward either.https://t.co/zum2bs15yk pic.twitter.com/cJB9OtDMNQ
— Matthew Yglesias (@mattyglesias) August 24, 2022

So are Republicans going to propose legislation to limit presidential authority over student loan payments or...?
— Matthew Yglesias (@mattyglesias) August 24, 2022

Romney did a bill in May that has four cosponsors.

House equivalent has thirteen.

Doesn't seem like a ton of interest so far. pic.twitter.com/W5DSnXRwTj
— Matthew Yglesias (@mattyglesias) August 24, 2022

https://t.co/vQiex5xeRV
— Matthew Yglesias (@mattyglesias) August 24, 2022

by artappraiser on Wed, 08/24/2022 - 2:00pm

Some ppl be pissed

I had to take out a payday loan in order to pay my rent and still ended up homeless, had to donate plasma in order to feed myself, stood in the Arlington Texas heat in a 3 hour long line to apply for rental assistance & never got it. NOT ONCE DID I THREATEN NOT TO VOTE
— 2RawTooReal (@2RawTooReal) August 23, 2022

by PeraclesPlease on Wed, 08/24/2022 - 2:24pm

Now there's a guy who really know wassup!

I'd vote for him, for sure. Talking just like that, too.

by artappraiser on Wed, 08/24/2022 - 3:01pm

I like this guy too

Beggars can't be choosers. The other option is you can pay 100% of the loans you voluntarily took out. https://t.co/rmnyw6Jso8
— Unobtainium Daydreams (@ShimminyKricket) August 24, 2022

edit to add this new tweet I just saw; he looks damn good at delusional narrative busting

If it's hidden why do you know about it? America ain't never had to hide shit. For most of it's history it told us to our face what the plan was lol. https://t.co/BjCury1KiY
— Unobtainium Daydreams (@ShimminyKricket) August 24, 2022

by artappraiser on Wed, 08/24/2022 - 3:30pm

House Judiciary GOP

If you take out a loan, you pay it back.

Period.
— House Judiciary GOP (@JudiciaryGOP) August 24, 2022

must point out this excellent retort to them:

.@HouseGOP: Extended PPP loan forgiveness. https://t.co/w1FnjRzlAz

Paycheck Protection Program forgiveness breakout. https://t.co/txUyUOM7dc pic.twitter.com/2mAg0YSfCI
— (@NuclearEngnrng) August 24, 2022

by artappraiser on Wed, 08/24/2022 - 2:08pm

Biden points to a different approach to that retort:

Biden: "I will never apologize for helping working class Americans & the middle class, especially not to the same folks who voted for a $2 trillion tax cut that mainly benefited the wealthiest Americans and the biggest corporations."

Points to PPP loan forgiveness as precedent
— Jeff Stein (@JStein_WaPo) August 24, 2022

Biden says the PPP loans should have been forgiven but criticizes the outrage over student loan forgiveness when few complained about the PPP loans during the pandemic that were forgiven
— Jeff Stein (@JStein_WaPo) August 24, 2022

by artappraiser on Wed, 08/24/2022 - 3:51pm

video:

This is a good pushback. I like that the administration was ready to war for this from day one against Republicans. Push this angle from now through November @harrisonjaime https://t.co/8D6qp26z02
— Kristy Yamacoochie (@brownandbella) August 24, 2022

by artappraiser on Wed, 08/24/2022 - 4:14pm

great tweeted clip of a graph illustration from WaPo which goes a long way to explain and understand what Biden's plan targets:

Sadly they’ll still be black commentators and the NAACP who will scoff at this. It infuriates me. They can send their checks to me if they don’t want or need the assistance. pic.twitter.com/YbPc3nFFo8
— Shaye Moss and Lady Ruby Freeman are heroes! (@FreedomRings34) August 24, 2022

by artappraiser on Wed, 08/24/2022 - 3:40pm

oy the White House has unleashed an extremely savvy social media person, like out of nowhere they're playing rough - The White House Twitter account has Quote Tweeted politicians who are critical of the student-loan forgiveness plan with information on how much in PPP loans they each have had forgiven.

Link goes to Twitter trending examples

by artappraiser on Thu, 08/25/2022 - 8:00pm

Biden on a roll, see thread of clips:

This is a really strong speech from Biden -- a nice mix of touting his accomplishments and owning the cons pic.twitter.com/5teg8E2IvM
— Aaron Rupar (@atrupar) August 26, 2022

by artappraiser on Thu, 08/25/2022 - 10:03pm

p.s. Seth Abramson & Wajahat Ali like what they are seeing & hearing

Agreed. https://t.co/D5CFixESdE
— Seth Abramson (@SethAbramson) August 26, 2022

by artappraiser on Thu, 08/25/2022 - 10:07pm

Dark Brandon takes many forms. Snarky Grampa is my favorite

Listen to him handle bad faith questions like "is this fair to people who already paid their loans?"

Biden: "Is it fair that people who don't own multimillion dollar businesses dont get tax breaks? What do you think?" pic.twitter.com/7ktLScUxYZ
— flexghost. (@flexghost1) August 24, 2022

by artappraiser on Fri, 08/26/2022 - 1:27am

Throwback Thursday

h/t @savanarola5 https://t.co/vkIkclBqVI?
— Alastair (@AliceFromQueens) August 25, 2022

I don't remember anyone getting mad about this at the time. https://t.co/hlO1YS2ith
— Alastair (@AliceFromQueens) August 26, 2022

by artappraiser on Thu, 08/25/2022 - 10:44pm

Rep. Jim Banks, R-Ind., said Thursday that President Biden’s student loan forgiveness plan will hurt the U.S. military’s ability to recruit.https://t.co/HoSEtcQAvz
— Yahoo News (@YahooNews) August 25, 2022

by artappraiser on Fri, 08/26/2022 - 1:29am

I challenge any person to spend one day touring a farm with a working farmer with an ag degree. You'll be blown away by how much you don't know.
— King of the Internets (@k_of_the_i) August 26, 2022

They are fully autonomous. My godfather just retired from farming and my dad (after he retired) would "drive" the tractor which consisted of getting it in the right spot and starting the program for that field and it drove itself
— Angry Black Cat (@AttyErinS) August 26, 2022

Tyler Stewart

Or a farmer without a degree. My cousin and uncle are very smart and great farmers. Mix that with my aunt's intelligence for the business side and they're doing very well. No degrees.

Dave

I used to teach at a large state university. (Engineering). At research symposiums I was amazed by the research being done in Ag subjects. Well over my head, but I could get enough to realize why the research was vitally important. Mix of undergrads, grad students

Or that those blue-collar workers don't have children with loans who are going to benefit and maybe they will be happy and relieved for their children and a tiny bit less worried about their own financial futures.
— Linda Today (@grit16451) August 26, 2022

by PeraclesPlease on Sat, 08/27/2022 - 1:43am

Wanting other people to suffer because you suffered is not the flex you think it is. #studentloanforgiveness #maga #MAGAmeltdown #voteblue pic.twitter.com/u4OX5RdRMv
— Beth (@AnnaBeth1968) August 25, 2022

by PeraclesPlease on Sat, 08/27/2022 - 2:15am

dupe deleted (here I must share the aggravation of having the comment totally fail to take twice and I had to redo it twice, and then when it finally took, it posted twice)

by artappraiser on Sat, 08/27/2022 - 3:09pm

to go off on the farm topic for a minute, I was so shocked by the elite urban liberal cluelessness ot this tweet by Adam Kotsko that I saved it:

Some people in cities don’t appreciate where food comes from.
— James (@JamesMa23093466) August 22, 2022

by artappraiser on Sat, 08/27/2022 - 3:07pm

Sam Kennison "you live in a fucking desert - MOVE!!!" nostalgia tour.

by PeraclesPlease on Sat, 08/27/2022 - 3:19pm

During the Progressive era, college was inexpensive but nowhere near as many people went.

by Orion on Wed, 08/31/2022 - 3:19pm

Sen. @tedcruz wants to block student loan forgiveness.https://t.co/HK0f8rvHYQ
— Chron (@chron) September 1, 2022

by artappraiser on Thu, 09/01/2022 - 9:57pm

I'm the daughter of a maid and a janitor and I worked my way through college. You should be able to do the same thing today.
— Rep. Val Demings (@RepValDemings) September 6, 2022

by PeraclesPlease on Tue, 09/06/2022 - 4:04pm

dang, I tried to avoid duping, I really did

by artappraiser on Wed, 09/07/2022 - 2:21pm

good that she gets it, and I think keeping it simple without going into this one-time debt forgiveness is very wise

by artappraiser on Wed, 09/07/2022 - 2:20pm

59% of Americans worry student loan forgiveness will make inflation worse, CNBC survey finds

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