#government debts

[ennovance]

… government deficits highest since FDR

US government budget balance (% GDP) under each administration since 1900

#m2 #riskonAsset #valuation #inflation

https://x.com/mohossain/status/1785675152413315312?s=46&t=GtuOmoaTjOwevz2JidiiDQ

[politijohn]

[carlisle06art]

Vi paint study

[thepioden]

One thing that is often overlooked with federal student loan forgiveness is that for every outstanding loan, the federal government is giving taxpayer money to a massive private fintech contractor to service that loan. It actively costs the government money to have loans outstanding. It is more expensive for the government to have someone who is on a low or no-pay income driven plan sit on that debt for 20 years than it would be to just forgive it outright today.

So like. Your tax dollars could go to relieving the debt burden of some struggling millennial OR they can line the pockets of Aidvantage's CEO, but that money is being spent either way.

[reality-detective]

American History You Were Never Taught! 🤔

[reasonsforhope]

Article

"Australian Prime Minister Anthony Albanese said on Sunday that his government planned to cut student loans for around three million Australians by 20%, wiping off around A$16 billion ($10 billion) in debts.

The move builds on May's budget, which attacked cost of living pressures in Australia and gave debt relief for students, as well as more investment to make medicines cheaper, and a boost to a rent assistance programme.

"This will help everyone with a student debt right now, whilst we work hard to deliver a better deal for every student in the years ahead," Albanese said in a statement announcing the cut to student loans for tertiary education.

The changes would mean the average graduate with a loan of A$27,600 would have A$5,520 wiped, the government said, adding that they would take effect from June 1, 2025.

The government said it already planned to cut the amount that Australians with a student debt have to repay per year and raise the threshold to start repayments.

If reelected at the next general election, due in 2025, Labor would also legislate to guarantee 100,000 free places each year at the country's Technical and Further Education institutes, Albanese said.

"This is a time for building, building better education for all," he said in a speech to supporters in South Australia state capital Adelaide.

Cost of living pressures, stoked by stubbornly high inflation, have a special resonance with a federal election looming and the centre-left Labor government now polling behind their conservative opponents.

(US$1 = 1.5246 Australian dollars)

-via Reuters, November 2, 2024

[notlemoncello]

I’m so fucking mad are you kidding me

“He’s screaming at people”

“He wasn’t even insured by UnitedHealth Care”

“Why didn’t he protest instead of shooting someone”

Why is the news pretending to be shocked at what is happening. America is a capitalist country, it will get away with as much as it can until there’s push back from the people affected. This is push back. Protests didn’t work, asking nicely didn’t work, pleading, begging, crying didn’t work.

What else can people do to make sure they are heard?

The federal government adding on charges after the state government already had charges is bullshit and dogpiling at best, the possibility of the death penalty on the federal level being on the table is even more bullshit. Personally I don’t give a shit what you did, no one should get the death penalty.

The government should not decide whose lives deserve to end.

Outside of that is genuinely costs more money for the government to kill someone than keep them in prison for life. Where the hell is “we need to decrease the National Debt” thinking now??

All of this truly shows how much the United States Government cares about the lives of CEOs, business, and corporations more that the lives of American Citizens.

If you are going to call me a dog then don’t be surprised if I bite like one.

[thashining]

"Listen, I ain’t got no favors for you, Trump" — Rep. Jasmine Crockett (D-TX) says Trump and the GOP majority are going to have to figure out this spending bill chaos themselves.

Tired of this maga bulls*t

[thoughtportal]

Social Security and Medicare and debt Manufacturing consent

[ennovance]

Why are we bullish on cyclicals with ISM <50?

“Global to local” is working and >60% of fiscal stimulus remains to be spent

#IRA #GovernmentSpending #Tradewar #Inflation #M2 #Manufacturing

https://x.com/mohossain/status/1825682654714351852?s=46&t=GtuOmoaTjOwevz2JidiiDQ

[politijohn]

Source

All hope is not lost

[nando161mando]

Student loan debt is still our country problem

[justinspoliticalcorner]

Garrett Haake, Rebecca Shabad, and Sahil Kapur at NBC News:

President-elect Donald Trump said Thursday that Congress should get rid of the debt ceiling, a day after he came out against a deal reached by congressional lawmakers to fund the government before a shutdown occurs. In a phone interview with NBC News, Trump said getting rid of the debt ceiling entirely would be the “smartest thing it [Congress] could do. I would support that entirely.” “The Democrats have said they want to get rid of it. If they want to get rid of it, I would lead the charge,” Trump added.  Trump suggested that the debt ceiling is a meaningless concept — and that no one knows for sure what would happen if it were to someday be breached — “a catastrophe, or meaningless” — and no one should want to find out.  “It doesn’t mean anything, except psychologically,” he said. The debt ceiling is the limit lawmakers set that determines how much the federal government can borrow to pay its bills. It doesn’t authorize any new spending.  On the possibility of a shutdown, which would occur at 12:01 a.m. Saturday if a funding deal isn't reached, he said, “If there’s going to be a shutdown, we’re going to start it with a Democratic president” — suggesting that the fight playing out in Congress now is necessary to clear the decks before his administration begins in January. 

[...] In his call Wednesday for Republicans to ditch the negotiated bipartisan short-term spending bill, Trump also demanded that lawmakers increase the debt ceiling — something that hadn't been on the table at all. Congress last raised the debt ceiling in June 2023, suspending it through Jan. 1, 2025. Typically, the Treasury Department is able to extend the deadline using so-called extraordinary measures to buy more time for lawmakers to address it.  

Donald Trump calls for the debt ceiling to be abolished, something that Democrats have repeatedly advocated.

The main reason he wants to lift the debt ceiling is to enrich the oligarchs.

[reality-detective]

"You will now be on the hook paying the loans of someone else who makes $300,000 a year, that is the financial burden Biden has brought to all of us."

Bob Brooks slams Biden for cancelling another $7.7 billion in student loan debt. 🤔

[benjaminallhope-fulltimemind]

My blood boils so badly whenever this comes up, why is canceling student debt a bad thing? We should be asking why student debt has no limits and can't be cancelled through bankruptcy like other forms of debt? Why can businesses declare bankruptcy and be fine while this life ruining form of debt be allowed with no restrictions? Biden has his issues but this is not one of them, but of course republicans oppose anything democrats do out of principle as cults can't cooperate with others! The supreme court is stuffed with crooks protecting crooks, it needs major reform or they will be removed by force if necessary!