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Comment by avgDev | Hacker News Reader

I cannot believe the student loan forgiveness when inflation is rampant. I am getting money back, as I paid my loans during the freeze. I'm just barely in the income level required. I believe nobody earning $125k or $250k household needs any forgiveness.

I bought more things with those news(spent $12k vacation and ebikes), I know others purchasing more things due to those news and knowing that things will probably get even more expensive in the future.

This bill doesn't change anything for future generations......and the timing is just awful...we need to take money away and make buying things hard not inject cash into pockets.

Edit: Before anyone attacks me, I voted blue in last election.

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...and then we have Newsom saying he'll provide gas rebates because gasoline is too expensive in the state where gasoline is regulated the most... and they accuse service stations to refiners of being "price gougers". Oh, well.

"We'll fight inflation with inflation causing instruments (more liquidity)!!!" "People don't have enough money; let's print more."

California does not control the Federal Reserve Bank, so they are unable to print money.

States don’t “print money”

States have been spending printed money nonstop since 2020.

Federal Reserve buys treasuries -> Federal Government hands trillions of borrowed dollars to state and local governments as “Covid relief” -> States spend well beyond their means.

I get it, no politician is perfect, but your edit is pretty funny.

"Don't blame me, I voted for them!"

It may not change things for you or me, but there are many, many people it will change things for and the grand majority of those changes are positive.

It's a big ask but people should stop from time to time to remember that the world doesn't begin and end at the tip of their own noses. Let good things happen to people even when that good has no impact on you.

With this "forgiveness" the "blue" bought several generation of people to vote for them. This type of "forgiveness"/"discrimination" is common in many countries, they just color it differently to make it look like it's good for society.

Wait, you are telling me politicians did something for their base that was politically motivated to gain political leverage?

  “People think that the President of the United States has the power for debt forgiveness. He does not. He can postpone. He can delay. But he does not have that power. That has to be an act of Congress.”

-- (D) house speaker Pelosi regarding the constitutionality of debt forgiveness via EO

My understanding is that the law authorizing those student loans allows the executive to forgive the loans during a declared emergency. I'm sure the courts will sort it out.

I would hope if the courts are sorting this out they will put an injunction in place to prevent cancelling the debt until a disposition and all appeals have been exhausted, as that may be something rather difficult to undo.

They know it's going to get thrown out. But they also know that once the checks have been sent the courts can't do much to get the money back.

The court can issue an emergency injunction to prevent an irreversible action like that before the courts are finished with it. Considering the president can just keep postponing the debt there's no real rush here to complete the cancellation before the courts can rule on the constitutionality.

If you actually use your e-bike to displace gasoline consumption, thats probably a significant net positive on inflation. So much of this has been driven by high energy prices.

I wont. I live in the burbs of a major city and don't feel safe riding on the street where cars travel 45mph.

US just isn't very bike friendly in general. I mostly want to use the ebike to make my rides longer.

Yeah that’s understandable, US road design is insane.

Im glad I live in a place where biking is taken seriously (even if there is plenty of room for improvement in the infrastructure)

"Give them bread and circuses and they will never revolt" - Roman Emperor

> I am getting money back, as I paid my loans during the freeze

How are you 'getting money back', from a loan in your name being paid off?

If loans were paid off during the freeze, one will be getting that money back.

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