Commentary

Dame: Biden loan forgiveness no solution

by Paul Dame

Last week we saw another example of how Democrats have a fundamentally different approach to solving problems than Republicans do. Despite Speaker Pelosi telling us he didn’t have the authority a few months ago, President Biden unilaterally paid for some portions of student loans using taxpayer money.

Putting aside for a moment the priority that Democrats have given to the increasing student loan, over other things like public safety, fixing the supply chain and creating housing that is affordable, there are a few problems with the way that Democrats addressed this issue, which establishes a pattern they use on other issues.

“When you break a leg you could just prescribe painkillers to treat the pain – or you could fix the broken bone. In the student loan example Democrats have taken a short-sighted approach that only creates a bigger problem down the road.” – Paul Dame

The difference is that Democrats are happy to treat symptoms, while Republicans want to treat the cause. Democrats know that a lot of people are paying money to student loans, and this makes it harder to make ends meet. So they just throw money at the symptom, namely the loan payment.

This policy has several significant shortfalls. First it doesn’t help anyone who didn’t go to college, never took out a loan, paid back their loan, or is going to start taking out loans in the future. Secondly it will only help with a portion of the loan, and depending on the total balance, it might not feel like very much. Any reasonable person must look at this and admit that it is only a temporary solution because it’s creating short-term relief for a few, but allows the problem to manifest itself requiring a second or third action in the future.

Republicans look at this problem from an entirely different perspective, and want to address the root problems, of which I believe there are two. First the cost of a college education has skyrocketed far beyond almost any other category of spending, and second the fact that many of the borrowers are having trouble using their degree to earn the kind of income that would make repayment easy.

When you break a leg you could just prescribe painkillers to treat the pain – or you could fix the broken bone. In the student loan example Democrats have taken a short-sighted approach that only creates a bigger problem down the road.

Republicans instead are asking why are colleges getting so much more expensive faster than everything else? The payment problem is a result of the initial cost problem. But there also may be a problem with the underlying value. Some college grads are able to get a job and pay off the loan quickly given their higher income – while that may be true for many, it’s not true for all. We also need to examine whether some of these universities are acting like predatory lenders by giving out loans to people they should rightly know can not pay them back based on their employment prospects.

Democrats champion episodic fixes, while Republicans look for enduring and systematic corrections. This applies to many other issues. On the issue of illegal immigration, Democrats want to provide amnesty for anyone entering illegally, but they don’t want to fix the ongoing systemic problem of the open border. On health care, they want to shift the payments to the government, but don’t want to examine the ongoing systemic reason costs are so high, like monopolization, excessive bureaucracy and tort reform.

A well known Democrat once said to “never let a crisis go to waste” and this ethic becomes apparent in the way they have been solving problems by always addressing only the symptoms of the crisis. Because leaving the crisis in place gives big government another reason to get credit for fixing the problem it created in the future and it avoids the question as to whether or not the cause of the crisis is connected to some previous Democrat policy. It’s time to put an end to this pattern of managing from crisis to crisis and give Republicans an opportunity this November to put in place longer term fixes to the root cause of many of the problems we face in our state and country.

Categories: Commentary

10 replies »

  1. How are those President Trump Policies looking now Mr. Dame?

    Don’t blame us REAL REPUBLICANS for the present state of affairs on MANY FRONTS in our Country!

    We voted for President Donald Trump again in 2020, so he could continue his America First Policies and Strong Stand for our Constitutional Freedoms!

    Those who are able to “see” Truth and Reality, KNOW that Trump WON in 2020!

    In the face of ALL of BIDEN’S DESTRUCTION on our Country, you and so many other RHINOS can’t see or own your self-destructive Trump Derangement Syndrome.

  2. How are actual Vermont citizens benefiting in any way from the VT GOP other than a monthly (or so) newsletter & opines from Paul Dame?

    Where is the VT GOP spending funds to challenge & opposed the myriad of unconstitutional pieces of legislation & policies being passed around our State? Why is prostitution being legalized when it is unlawful according to the VT Constitution? (As but one single example).

    What is the VT GOP doing to educate national media sources, (Fox/Newsmax/Redline/Townhall, etc. etc.) particularly conservative ones, as to the current affairs going on here in Vermont? Examples are: substantive rise in crime, prostitution laws enacted, censorship by committees, bias in the State media, etc. etc. etc.

    Does the VTGOP employ anyone to learn of such newsworthy events & current affairs and develop them into PRESS RELEASES to send out to the various news media outlets replete with contact information so that they would much more likely achieve NATIONAL ATTENTION?

    Mr. Dame? Response? OR – “crickets”?

    Or are we all supposed to be fretful of “offending” people still at this dire point in time???

  3. No one is again talking about the Elephant in the room, The US Government and State . This is a scam….
    Read this article and you decide.

    https://www.westernjournal.com/days-bidens-mass-student-debt-cancellation-borrowers-13-states-learn-face-big-tax-bill/

    This is how they will shackle us if they can.
    All you have to do is remember….. Remember all the commercials about “IRS DEBT relief”. Remember all the commercials about getting your credit cards debt removed without bankruptcy,? You would still owe tax to the government as it is considered INCOME. So please please see what they REALLY did this for. Not relief, but income generation for the government, state and federal.

    And now you know why they wanted to hire 87000 new agents….

    Want to know who pays for it all. The borrower. Thru taxation and possibly confiscation.
    Owe VT taxes, even if you disagree. Better pay them or you get no pre-bate or that big end of tax year refund… Kiss that goodbye. Then they will have the ability to just TAKE your home from you… Wait and see, this is only getting worse. Need a small business loan, not gonna happen with bad student loan(or tax) debt. I almost forgot, no tax credit for paying on student loan anymore… so more taxes

    As far as “who pays for it” you must also consider that the US government holds all the purse strings/paper for student loans. Not banks, not for years. Before they only guaranteed the loans but now they issue them, thru banks, but still they come from the government. We must also know or not forget that in the world of fixing your debt, one cannot just file for bankruptcy to clear a student debt it sticks around like… Well, you can fill in your own description here.
    As always if I am wrong show me. I would love to not be right about this.

    Paul is just like Lindsey Graham. No, that is not a compliment and we should all know that.

  4. A lot of different solutions other than a give away should be considered.

    How about….
    1. Stop with the exorbitant interest rate for payers not those in default.
    2. Join the Peace Corps and trade back time for debt
    3. Join Americorps and trade time for debt.
    4. Go to night school work during the day.
    5. Go to Junior College with a reduced first two years of debt accrued.
    6. Study and get a scholarship for the academic work you do.
    7. Pay attention when the loan documents are signed saying you are accountable.
    8.Join the military and serve someone besides yourself. Domyoungh8nk that the give away will make the recruiter’s job a tad more challenging .
    9. Hold the educational institution accountable for their costs.
    10. Take away tax exempt status for educational institutions with tremendous endowments. Make them also pay local property taxes.
    11. Scholarships for STEM majors not art majors( I like art etc. but don’t want to pay for somebody else’s kid good time)
    12. Tell kids it is ok to be a plumber, electrician, carpenter, HVAC, truck driver, heavy equipment operator etc and prepare them for it. They will earn with minimum debt.
    13. Diploma mills need to be accountable.
    14.Prep,kids in High School for the challenges and debt which may be coming at them.12th grade is too late. College is way too late. Graduation is criminal.

    Only a start of a list on how to resolved it. Please feel free to add.

    Also how motivated are the next round of borrowers going to be when they know just around the corner there will be another Election Day and another get out of jail card will be played?

    • Can we ALL be honest ……..this is NOT about helping anyone. This is another gas-lighting front for Biden and his Cronies who are seeking to Destroy our Country and make us into a part of a new world order. (the reset)

      1.) All the spending,
      2.) Flooding the Country with free ARPA Monies, grants and
      handouts for all
      3.) The allowing of open borders and the invasion by huge
      numbers of illegals
      4.) The FBI being used for political purposes
      5.) The fake Covid emergency and all the FEAR it created
      6.) The damaging shots illegally and un-Constitutionally forced on
      persons
      7.) Crashing our fuel industry
      8.) Greatly weakening our Military
      9.) The fake climate scare green energy take over
      10.) Turning of persons against each other with fake racism, CRT

      We could go on and on and on ……… We need to wake up the majority to vote for the imperfect conservative Republicans in November and try to stop the current plan.

  5. Get Government out of student loan business…..period
    it’s been a cash cow for them for too long…..
    my student loans …2%/ my sons “6”years later……8.5%
    the change….President Obama made changes
    let;s go back to free market on it, even let lenders, those that are up for it, negotiate with colleges for the cost of “said degree”, and lets put money into the trade schools…….there are more “non-college” folks than there are “college bound”……

  6. Look into ERIC. Vermont is a member of ERIC, a non-profit corporation governed by a board of directors made up of member-states.

    What does ERIC do? Each member state receives reports that show voters who have moved within their state, voters who have moved out of state, voters who have died, duplicate registrations in the same state, and individuals who are potentially eligible to vote but are not yet registered. States may request a report identifying voters who appear to have voted twice within the state in the prior federal election, voted in more than one state in the prior federal election, or who voted on behalf of a deceased voter in the prior federal election.

    Who are the Board Members? Will Senning, Director of Elections and Campaign Finance, of Vermont, is one of the Members for 2022-2023.

    Who Pays for ERIC? The member states. New members pay a one-time joining fee of $25,000. These fees are generally held in reserve for large periodic expenses, for example IT upgrades. Each member state also pays annual dues, which are determined by a formula approved by the ERIC membership. The formula includes citizen voting age population as a factor. States with large populations pay more than states with smaller populations. Annual member dues for 2021-22 range from about $16,000 to about $74,000. ERIC’s annual budget for FY 2021-22 is approximately $1,037,000.

    Here’s a list of the member states: As of August 2022 – Alabama, Alaska, Arizona, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New Mexico, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Texas, Utah, Vermont, Virginia, Washington, West Virginia, and Wisconsin. The District of Columbia is also a member. (33 states plus D.C.)

    Here’s the website: https://ericstates.org

    Something to check out, seems like ERIC holds all the Voter Rolls for the above States, (i.e. Names of every potential eligible voter). What a great resource to have for cheating (i.e. pump-up the Voter Rolls for Ballot Dumping/Harvesting from mail-in Ballots), and each State (the taxpayers) sends their money to them.

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