The Biden Presidency - 2020

[Lathum]

Originally Posted by molson

The refund is ultimately going pay for my wedding this year. Otherwise, I was a bit over-extended on that (that wedding planning shit has a way of expanding past your initial expectations).

The extra income isn't a huge life-changer for me on a month-to-month basis, I was paid ahead on the loans, they were were locked in at a very low interest rate when I consolidated years ago, so I mostly just paid a little here and there to make sure the balance didn't increase, but it otherwise it made more sense to pay those slowly. So I may not be the right person to settle your argument. But most of the extra money will go towards my retirement accounts and paying down a HELOC balance (which may have the effect of me feeling a little more willing to spend on stuff like home improvements).

I started at $120k debt for college + law school in 2006 (way too much to take on, but, I was young and dumb and felt like I was at a dead end in life and my career, so I went for it.) Paid aggressively for a while, got about $20k in grants from my law school for doing public service along the way. I've had the last $45k for a few years now between paying only the interest, and the not paying at all during the COVID pause.

So I'm probably not the most sympathetic loan forgiveness recipient now in that they're not a huge life obstacle, but, I had a lot of lean years with this hovering over me, and my retirement investments were definitely delayed by years as I took that debt on.

Thanks.

My brother in law is a financial genius. He was two steps below Jamie Dimon before he retired at the age of 48 to race cars. We have often discussed the student loan situation and he is in agreement with me that it would be an amazing stimulus to the economy since most people would use the extra money to go out to eat more, purchase a new vehicle, etc...so your wedding example backs that up somewhat.

[Qwikshot]

Originally Posted by Lathum

Thanks.

My brother in law is a financial genius. He was two steps below Jamie Dimon before he retired at the age of 48 to race cars. We have often discussed the student loan situation and he is in agreement with me that it would be an amazing stimulus to the economy since most people would use the extra money to go out to eat more, purchase a new vehicle, etc...so your wedding example backs that up somewhat.

I've never understood the push back to this. It makes sense that if you didn't have loans, you had a viable degree and job, that the income you'd earn some of it would be disposable and thus stimulate the economy.

My loans are paid, I don't have any. I'm blessed, I'm happy for anyone who is having them paid off. There is no bitterness or what about me...

The what about me stuff is just pathetic, there's always someone who feels shrifted (generally by their bad choices) and want to screw everyone else from betterment (hence MAGATs).

This is also why I shake my head about not having universal healthcare, wouldn't it then reduce weight on companies to not have to shell out for let's face it nine times out of ten pretty shitty insurance. Wouldn't universal health care allow them to then allow employees to maybe put that money into 401k or disposable income, sure you'll have higher taxes but you're covered. Companies could also then redirect money to other things. Insurance companies wouldn't go kaput, they'd have the largest customer in the US Gov'nt.

I just don't get. Too much fuck you I got mine, or if I can't have it no one can.

[NobodyHere]

Originally Posted by Lathum

Thanks.

My brother in law is a financial genius. He was two steps below Jamie Dimon before he retired at the age of 48 to race cars. We have often discussed the student loan situation and he is in agreement with me that it would be an amazing stimulus to the economy since most people would use the extra money to go out to eat more, purchase a new vehicle, etc...so your wedding example backs that up somewhat.

So would he be cool with giving every American citizen 55k? Think the of spending everyone would do!

[NobodyHere]

Originally Posted by Qwikshot

I've never understood the push back to this.

It's simply because someone has to pay for that stuff.

If Peter is robbed to pay Paul then Peter isn't like to congratulate Paul on his newfound wealth.

[Qwikshot]

Originally Posted by NobodyHere

It's simply because someone has to pay for that stuff.

If Peter is robbed to pay Paul then Peter isn't like to congratulate Paul on his newfound wealth.

Most student loans are predatory; most kids who get student loans have to do so because they're living hand to mouth or their parents are and they have no recourse but to get loans that exceed really the value of college.

So what are youre options? You take the loan if you want a real career. Some careers require masters degrees, guess what theres another loan. Now you have your degrees but you are competing in a job market, you have have transport, you have to have place to sleep, you have to have food and utilities.

People like you are the problem. I assume your thought is if you can't afford it don't do it, well with education you don't have that option. You can be a stupid unskilled laborer but you won't be able to live.

Oh and I think in Europe the majority of college education is free. It's publically funded because you know who wouldn't want their citizens to get good education so they can get good jobs so you know stimulate the economy and have a skilled workforce populace.

This whole bullshit persona of pull yourself up by your bootstraps is so you can be poor and stupid. The mindset that it is robbery if the public gets "free" education/public health (meaning taxes go towards it) is one of the nastiest tricks the rich have played on you.

Like I said, I don't really care. My loans are paid for my degrees(bachelor and masters). I got a nice house in a nice area (suburbs). Good public school for my kids. My company has an okay health insurance and I've got about 400k in my 401k (I took out a chunk to pay for said house but that's okay it's doubled in value). I don't make too many extravagent purchases; I live easy, I can buy the things I need when I want.

My daughter is just finishing up her masters. Her loans are paid. Her starting salary is just North of 93k. She'll be fine at 23. Not a lot of kids will be.

[NobodyHere]

Originally Posted by RainMaker

We could just make people pay their taxes too.

Pfizer’s Massive Tax Dodge

That too.

[RainMaker]

Originally Posted by NobodyHere

That too.

Another savings opportunity.

Israeli journalist Noam Amir: "The Americans spent nearly a billion dollars on interceptors tonight." https://t.co/RLwjDoRlQR

— Sina Toossi (@SinaToossi) April 14, 2024

[Atocep]

Nothing really to add to this wonderful, beautiful quote.

"Gettysburg, what an unbelievable battle that was," Trump said while addressing the crowd in the town and wearing a Make America Great Again hat. "It was so much, and so interesting, and so vicious and horrible, and so beautiful in so many different ways—it represented such a big portion of the success of this country," he continued.

"Gettysburg, wow—I go to Gettysburg, Pennsylvania, to look and to watch," he said. "And the statement of Robert E. Lee, who's no longer in favor—did you ever notice it? He's no longer in favor. 'Never fight uphill, me boys, never fight uphill.' They were fighting uphill, he said, 'Wow, that was a big mistake,' he lost his big general. 'Never fight uphill, me boys,' but it was too late," Trump added.

[flere-imsaho]

But let's talk more about Biden's cognition.

[Lathum]

The audio of it is absolutely brutal.

One thing I did notice is no one was cheering. It gave me hope that even his most fervent supporters are starting to be like, WTF is he even saying?

[Atocep]

Originally Posted by Lathum

The audio of it is absolutely brutal.

One thing I did notice is no one was cheering. It gave me hope that even his most fervent supporters are starting to be like, WTF is he even saying?

It's another rally of word salad and where, at one point, his brain locked up and he slurred some nonsensical shit.

[RainMaker]

Originally Posted by Atocep

Nothing really to add to this wonderful, beautiful quote.

Had to make the Ken Burns edit to stop the intrusive thoughts https://t.co/08UhGZbl9E pic.twitter.com/AgqukvhPgW

— Dad (@SchneeDad) April 15, 2024

[HerRealName]

REL disliked fighting uphill so much he did it on two consecutive days.

[RainMaker]

what a wonderful husband!

https://www.nytimes.com/2024/04/16/n...ery-trial.html

[Edward64]

The details of the Ukraine-Israel-Taiwan bills to be voted on this Saturday. No mention of border security, I have to believe there'll be something.

Here’s what aid the House would provide Israel, Ukraine | CNN Politics

Taken together, the House bills add up to about $95 billion in aid – the same amount the Senate bill included – with an adjustment that $10 billion in Ukraine economic assistance is in the form of a repayable loan, CNN has reported.

The House is expected to vote on the bills Saturday. President Joe Biden said in a statement Wednesday that he supports the aid package.

For Ukraine.

One of the bills would provide a total of nearly $61 billion to assist Ukraine and others in the region fight Russia – about the same that was included in the Senate bill.

... with an adjustment that $10 billion in Ukraine economic assistance is in the form of a repayable loan

For Israel.

The House package would provide $26.4 billion to aid Israel, specifying that the funds are to support “its effort to defend itself against Iran and its proxies, and to reimburse US military operations in response to recent attacks,” according to a summary of the legislation.

The funding includes $4 billion for the Iron Dome and David’s Sling missile defense systems and $1.2 billion for the Iron Beam defense system, which counters short-range rockets and mortar threats.

For Taiwan & APAC

The House package includes $8.1 billion to counter China’s actions in the Indo-Pacific region. It includes $3.3 billion to develop submarine infrastructure, $2 billion in foreign military financing for Taiwan and other key allies, and $1.9 billion to replenish defense items and services provided to Taiwan and regional partners.

EDIT: Axios reported below on the border stuff. If true, I still don't get it. GOP leverage is now with getting something for the border. Proposing a separate bill that probably won't pass the Senate this year seems to be a losing proposition. And there is no guarantee Trump will win for a border bill in 2025.

Those four bills will be moved together procedurally, while another bill with "core components" of Republicans' Trump-era border policy bill will be introduced separately, he said.

[Edward64]

Originally Posted by Edward64

Additional details by PolitiFact. Specific to TikTok, Bytedance owns TikTok. The question is whether Bytedance is controlled or will do what Chinese government wants. Take the conclusion for what you will.

The below Politico article is kinda weird. If Tiktok was not owned/controlled by the Chinese government, why would the Chinese diplomats come out and try stop this legislation?

Just a moment...

Chinese diplomats are quietly meeting with Hill staffers about TikTok
:
The embassy also sought to claim the company as Chinese, the staffers said, despite TikTok’s public efforts to distance itself from the origin of its founders. TikTok, unlike ByteDance, is based in Singapore and the United States. In one of the meetings, the embassy argued that the legislation amounted to a forced data transfer of a Chinese company, according to the House staffer.

Oblivious hypocrisy. Plenty of western companies are treated differently in China.

In the other, the embassy argued that the effort was not fair to a Chinese company because the U.S. would not treat a company with a different national origin the same way, according to the Senate staffer.

And this is puzzling, apparently Tiktok knows nothing about this.

TikTok said in a statement that the embassy meetings were “news to us, and it’s absurd to ask us to comment on anonymous sources we know nothing about.”

[Edward64]

The Ukraine-Israel-Taiwan bills total up to $95B in aid.

Sounds like Norway could fund that all by themselves just from one quarter.

https://www.cnbc.com/2024/04/18/worl...q1-profit.html

Norway’s giant sovereign wealth fund on Thursday reported first-quarter profit of 1.21 trillion kroner ($109.9 billion), supported by robust returns on its investments in technology stocks.

The so-called Government Pension Fund Global, the world’s largest sovereign wealth fund, said it had a value of 17.7 trillion kroner at the end of March.

[GrantDawg]

Originally Posted by Edward64

And this is puzzling, apparently Tiktok knows nothing about this.

Not as puzzling when you think about it. I believe interaction between Bytedance and the Chinese government is separated from Tik Tok. Whether it is a Chinese government front or not, the best way to have Tik Tok be successful is to keep it as separate from the Chinese government as possible.

[RainMaker]

They're mostly owned by VC and private equity firms. Sequoia and Susquehanna own a large chunk of the company. The same people who own half of Silicon Valley. It's not a huge secret who's invested in ByteDance.

We can drop the facade over "fears of Chinese ownership". They're invested heavily in tons of American companies, including Twitter and Meta (who actively share data on users with the Chinese government). This is more about appeasing some Israeli lobbyists and giving a right-wing billionaire like Steve Mnuchin a growing company at a steep discount.