If Social Security goes bust, shouldn't student loans be forgiven?

grasswire

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Sun Nov-25-07 10:04 PM
Original message

If Social Security goes bust, shouldn't student loans be forgiven?

Doesn't that make sense? If the promise of Social Security can't be kept because of the disastrous management of the U.S. Treasury, federal loans to individuals should be forgiven. Maybe even old tax debts, too, for people who have no means to repay.

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ISUGRADIA

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Sun Nov-25-07 10:07 PM
Response to Original message

1. Is this in reference to something recent?

Current numbers are showing a shortfall in the 2030s and even then a reduction, not elimination of benefits without increased payroll taxes.

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grasswire

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Sun Nov-25-07 10:17 PM
Response to Reply #1

4. In view of the probable coming recession...

...I don't think you can count on anything about entitlements that the government is telling us at this point. Even traditionally conservative outlets are predicting a recession, soon. That, plus peak oil, plus the freefall of the dollar, plus climate change -- anything could happen in the next couple of years.

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barb162

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Sun Nov-25-07 10:08 PM
Response to Original message

2. No.

It's like saying anyone can run up anything they want on bills and don't have to pay it back. How does that help the economy or the poeple of this country.

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grasswire

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Sun Nov-25-07 10:15 PM
Response to Reply #2

3. Isn't that exactly what Bushco has done?

Drained the U.S. Treasury, borrowed up to a trillion dollars from the Chinese to fund a war of choice, forced the dollar into a record-breaking nosedive, allowed the sub-prime lenders to put a million households into foreclosure, let New Orleans collapse after Katrina, etc., etc., etc.

Can only the government run up its bills and avoid responsibility?

And how would the trading of a student loan for the failure of government to pay Social Security teach people to run up bills? That makes no sense.

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OldMarine6012

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Sun Nov-25-07 10:31 PM
Response to Reply #3

6. Sad to say

That just about every president since SS was created has used it as a penny bank.

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B Calm

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Sun Nov-25-07 11:09 PM
Response to Reply #6

11. We know that it has always been the conservatives plan to bankrupt

this country, thus doing away with all social programs that help the working poor, but that don't include all the democratic presidents too!

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barb162

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Sun Nov-25-07 10:50 PM
Response to Reply #3

8. Macro and micro economics are two different stories

however, the administration is hurting the country doing what it's doing. It will be very hard if not impossible paying all this back.

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barb162

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Sun Nov-25-07 10:51 PM
Response to Reply #3

9. And a lot of presidents have drained the treasury

although Bush is really terrible. It doesn't mean everyone should do it.

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Warpy

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Sun Nov-25-07 10:27 PM
Response to Original message

5. Social security is INSURANCE and as such, will not go bust

The only crisis is that Congress won't be able to rob 40% of what we're paying into it in order to give rich men more tax cuts.

As the bulk of the boomers are retired, the system will return to what it was designed to be, a pay as you go insurance system for workers to supplement their meager savings in retirement and keep them out of extreme poverty.

Without working boomers to rob, Congress will simply have to raise taxes on the sainted rich.

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tammywammy

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Sun Nov-25-07 10:33 PM
Response to Original message

7. No n/t

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Democrats_win

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Sun Nov-25-07 11:02 PM
Response to Original message

10. Students haven't paid into SS to the extent that older Americans have.

They should forgive loans based on age: If you're 80, then 80% of all of your loans are forgiven.

This would be the right thing to do since the corporate banks have been robbing our country blind.

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