Chef Jim Posted June 10, 2014 Share Posted June 10, 2014 From your link: The expansion of the student loan relief program would make it available to borrowers with older loans — those who got loans before October 2007 or stopped borrowing by October 2011. It directs the Education Department to write rules implementing it, making it available by the end of 2015. Under the plan, borrowers in public service who make regular payments would see all outstanding debt forgiven after 10 years, while those in the private sector would see unpaid debt forgiven after 20 years. Read more: http://thehill.com/p...s#ixzz34BPNGlk5 Follow us: @thehill on Twitter | TheHill on Facebook I think that forgiving the debt to public sector people sooner is a bunch of bull ****! Pay as You Earn has been around for a couple of years already and it looks like the only change here is expanding how long ago the loan was taken. What very few people are talking about is sure the debt is forgiven after 10/20 years but the loan balance hits their tax return as income. We're seeing people that will have as much as $300k hit there returns in 20 years because with IBR they're not even covering the interest so the loans are growing. That will put them at the highest tax bracket and they'll owe $100-$150k or more on that (not sure if it hits there state return). So once again the government is kicking the can down the road to make people feel good about the fact that they are doing "something". The things people do in the name of a higher education. I have a friend (also a financial planner BTW) whose son just graduated college with $160k in debt. The son studied photography and I think he's working at some department store. My nephew has a masters (I think) in art history (hmmmm, did he decide that after reading The Da Vinci Code?) who is working at Wegman's. People are such fools. Link to comment Share on other sites More sharing options...
3rdnlng Posted June 17, 2014 Share Posted June 17, 2014 No good place to put this: http://pjmedia.com/tatler/2014/06/16/everything-is-awesome-with-obama/ The reason why you think that President Obama is having a bad year is due, merely, to the ignorance of the “fickle” public, the obstinance of uncompromising Republicans, the cowardice of Liberals and the nattering nabobs of negativism in the news media. Contrary to you, and all of them, Obama’s actually “looking like a very consequential president indeed” who’s having a “seriously good year” thanks to health care reform which is making “major progress” and “looking like a big success story,” not to mention that the president is “showing some real passion” on climate change and has the Wall Street boys shaking in their shoes over financial reform. In fact Obama’s only problems are that he’s tried too hard to compromise with Republicans and “centrists,” and wasted time attempting to run a fiscally-responsible government. Thus saith Paul Krugman in the New York Times, where he gushes like a … well, like a New York Times columnist over the president who said “Yes, we can” and then did it. I carved my niche on the internet writing news satire, but I have met my match. Link to comment Share on other sites More sharing options...
B-Man Posted June 17, 2014 Share Posted June 17, 2014 UNEXPECTEDLY! Consumer prices rise sharply in May. “Consumer prices last month posted their sharpest increase in 15 months as inflation continued a recent acceleration from unusually low levels. The consumer price index jumped 0.4% after rising 0.3% in April, the Labor Department said Tuesday. Economists had expected a 0.2% increase.” International Monetary Fund cuts U.S. growth forecast. The International Monetary Fund sees a more painful short-term future for the U.S. economy than the U.S. government does. The IMF on Monday projected U.S. growth clocking in at just under 2 percent this year, a significant downgrade from the IMF’s projection of 2.7 percent growth last year. The prediction, part of the IMF’s regular consultation with the U.S., also is well below the Federal Reserve’s most recent forecast in March of 2.8 percent-3 percent, although the central bank is expected to lower its expectations following its monetary policy meeting this week. Some recovery. Link to comment Share on other sites More sharing options...
/dev/null Posted June 17, 2014 Author Share Posted June 17, 2014 No good place to put this: http://pjmedia.com/t...ome-with-obama/ The reason why you think that President Obama is having a bad year is due, merely, to the ignorance of the “fickle” public, the obstinance of uncompromising Republicans, the cowardice of Liberals and the nattering nabobs of negativism in the news media. Contrary to you, and all of them, Obama’s actually “looking like a very consequential president indeed” who’s having a “seriously good year” thanks to health care reform which is making “major progress” and “looking like a big success story,” not to mention that the president is “showing some real passion” on climate change and has the Wall Street boys shaking in their shoes over financial reform. In fact Obama’s only problems are that he’s tried too hard to compromise with Republicans and “centrists,” and wasted time attempting to run a fiscally-responsible government. Thus saith Paul Krugman in the New York Times, where he gushes like a … well, like a New York Times columnist over the president who said “Yes, we can” and then did it. I carved my niche on the internet writing news satire, but I have met my match. http://fehrtheewell.files.wordpress.com/2012/06/all-is-well.jpg Link to comment Share on other sites More sharing options...
/dev/null Posted June 20, 2014 Author Share Posted June 20, 2014 http://cnsnews.com/news/article/terence-p-jeffrey/11004507-disability-beneficiaries-top-11-million-first-time Forward! Link to comment Share on other sites More sharing options...
Tiberius Posted June 21, 2014 Share Posted June 21, 2014 http://cnsnews.com/news/article/terence-p-jeffrey/11004507-disability-beneficiaries-top-11-million-first-time Forward! Obama is crippling people? Oh come on... Link to comment Share on other sites More sharing options...
/dev/null Posted June 21, 2014 Author Share Posted June 21, 2014 Obama is crippling people? Oh come on... Quite the contrary. A good number of the disabled are not really disabled. Disability has turned into a lifetime handout Link to comment Share on other sites More sharing options...
DC Tom Posted June 21, 2014 Share Posted June 21, 2014 Obama is crippling people? Oh come on... More like... Victimhood is a coveted status that confers privileges. Link to comment Share on other sites More sharing options...
Nanker Posted June 21, 2014 Share Posted June 21, 2014 That right there is Obama's solution to long term unemployment. Link to comment Share on other sites More sharing options...
keepthefaith Posted June 21, 2014 Share Posted June 21, 2014 Quite the contrary. A good number of the disabled are not really disabled. Disability has turned into a lifetime handout Being uneducated and having a criminal record may be grounds for long term disability due to "mental illness". Link to comment Share on other sites More sharing options...
Chef Jim Posted June 21, 2014 Share Posted June 21, 2014 Obama is crippling people? Oh come on... No extending unemployment benefits is disabling people. Link to comment Share on other sites More sharing options...
Tiberius Posted June 21, 2014 Share Posted June 21, 2014 No extending unemployment benefits is disabling people. Or maybe an aging population has more disabled people [duh!] and you morons are yammering about something that would have happened no matter who the president was... Link to comment Share on other sites More sharing options...
Koko78 Posted June 22, 2014 Share Posted June 22, 2014 I think that forgiving the debt to public sector people sooner is a bunch of bull ****! Pay as You Earn has been around for a couple of years already and it looks like the only change here is expanding how long ago the loan was taken. What very few people are talking about is sure the debt is forgiven after 10/20 years but the loan balance hits their tax return as income. We're seeing people that will have as much as $300k hit there returns in 20 years because with IBR they're not even covering the interest so the loans are growing. That will put them at the highest tax bracket and they'll owe $100-$150k or more on that (not sure if it hits there state return). So once again the government is kicking the can down the road to make people feel good about the fact that they are doing "something". The things people do in the name of a higher education. I have a friend (also a financial planner BTW) whose son just graduated college with $160k in debt. The son studied photography and I think he's working at some department store. My nephew has a masters (I think) in art history (hmmmm, did he decide that after reading The Da Vinci Code?) who is working at Wegman's. People are such fools. The 10 year loan forgiveness thing for those working in public service has been around since like 2007. Your friend's son and your nephew are both well-educated idiots. Link to comment Share on other sites More sharing options...
Tiberius Posted June 24, 2014 Share Posted June 24, 2014 (Reuters) - U.S. consumer confidence jumped to its highest level in nearly 6-1/2 years in June and sales of new homes surged in May, the latest signs that the economy has regained momentum. "This is convincing evidence that the economy continues to expand," said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ in New York. "It takes a lot of confidence to buy the biggest of big ticket items consumers ever face, buying a new home." http://www.reuters.com/article/2014/06/24/us-usa-economy-idUSKBN0EZ1KX20140624 Link to comment Share on other sites More sharing options...
/dev/null Posted June 24, 2014 Author Share Posted June 24, 2014 http://www.reuters.c...N0EZ1KX20140624 green shoots! summer of recovery 5.0! forward! Link to comment Share on other sites More sharing options...
IDBillzFan Posted June 24, 2014 Share Posted June 24, 2014 green shoots! summer of recovery 5.0! forward! You'd think that for all the times some progressive bozo announces that *this time* the recovery looks good, one of them would be right by mistake. But no. What the progs are learning, to their dismay, is that simply saying things are getting better doesn't fly in the face of reality seen in the lower and middle class workers. The only people making money in the Obama economy are the very rich. You know...the 1%. Link to comment Share on other sites More sharing options...
DC Tom Posted June 24, 2014 Share Posted June 24, 2014 http://www.reuters.c...N0EZ1KX20140624 If you had half a brain, you wouldn't be crowing about a confidence index of 85, which is pretty anemic. Last time it was this low and increasing, your ilk were complaining about weak economic growth and the "jobless recovery." Link to comment Share on other sites More sharing options...
Chef Jim Posted June 24, 2014 Share Posted June 24, 2014 Or maybe an aging population has more disabled people [duh!] and you morons are yammering about something that would have happened no matter who the president was... No, an aging population has more people collecting social security not disability. Link to comment Share on other sites More sharing options...
Nanker Posted June 25, 2014 Share Posted June 25, 2014 Disability is Obama's extension to 99 weeks of unemployment insurance. Obama and the Dems own that and the rotten economy that they are clueless as to how to fix. Link to comment Share on other sites More sharing options...
IDBillzFan Posted June 25, 2014 Share Posted June 25, 2014 http://www.reuters.c...N0EZ1KX20140624 Ouch. Economy shrinks 3% in first quarter. Unexpectedly! Because...weather!!! Link to comment Share on other sites More sharing options...
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