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2020 Democratic Challengers III: The Wrath of Warren

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Re: 2020 Democratic Challengers III: The Wrath of Warren

trixR4kids said:
Yeah there’s no shortage of differences between the eras.
Click to expand...

Seems pretty easy to draw some conclusions, though. I googled furiously for all of ten minutes and couldn't find what I want but I'll bet we could crowdsource the following data and lay it out for ourselves:

Let's find the year to year data since 1945 for:

Median home cost
Median college cost
Median family size
Cost of living
Median household income
Median interest rate for home loans
Median interest rate for college loans
Percentage of single income households
Median savings/debt
Median health care costs

My theory:

Axioms:
0. People never change. Comparing generations is ridiculous; people are people and have been since Mohenjo-daro.

Testable Hypotheses:
1. Over the last 70 years, housing cost has increased relative to wages...
2. ... while college costs and medical costs have increased insanely relative to wages...
3. ...but family size has decreased, lessening the burden...
4. ...but single income households have increased, increasing the burden.
5. Overall, disposable income (wages less necessities) has decreased...
6. ... thus savings has decreased / debt has increased.

It is obviously true that the average person lives better now than they did in 1945 (health, possessions, leisure time, square footage of domicile) but also remember that labor productivity has increased and of course technology has advanced. So, is the average person making any more or fewer "sacrifices" today than they were in 1945? My guess is the average person is living in greater risk but it is also true that in 1945 that person didn't have the ability to find those debt instruments. You aren't morally superior because you forgo an unavailable vice.

If you want to decrease debt, stop concentrating on the debtors and start shutting down predatory lending. You know how you make sure risky people don't get into debt? Don't let the banks lend them money unless it's at the bank's risk. They'll stop.

I'm not blaming Kids Today at all. Because: see Axiom 0.
 
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Re: 2020 Democratic Challengers III: The Wrath of Warren

I’m torn on the cancellation of student debt mostly because I don’t know how it will happen. I am not one of those folks who say “I paid my debt, they should too!” What about someone who has yet to enter college? Will they not have debt? I think people should bear some responsibility, like, 80% will be cancelled, you have to pay 20%. Or, people whose debt will be cancelled must volunteer a certain number of hours a week for the number of years they were in college. For med school and law school grads, they will need to do pro bono work. Or something. I have absolutely no idea how they would work it. To just have Bernie say “I’m going to cancel student debt!” Is kinda nuts.
 
Re: 2020 Democratic Challengers III: The Wrath of Warren

I’m not for cancellation of debt. I am for the government assuming all student loan debt, automatically refinancing it for the base rate, and setting the term to 10 or 20 years. For anyone under 2x-3x the median household income, the interest rate in 0%.

Bernie’s plan is ****ing loonball.

Edit: I’d also go after colleges and force the costs down. No public institution could charge above a certain amount. Tough ****. Go private or serve the PUBLIC.
 
Re: 2020 Democratic Challengers III: The Wrath of Warren

dxmnkd316 said:
I’m not for cancellation of debt. I am for the government assuming all student loan debt, automatically refinancing it for the base rate, and setting the term to 10 or 20 years. For anyone under 2x-3x the median household income, the interest rate in 0%.

Bernie’s plan is ****ing loonball.

Edit: I’d also go after colleges and force the costs down. No public institution could charge above a certain amount. Tough ****. Go private or serve the PUBLIC.
Click to expand...

Bernie's plan is not loonball if it moves the negotiation in the right direction.
 
dxmnkd316 said:
I’m not for cancellation of debt. I am for the government assuming all student loan debt, automatically refinancing it for the base rate, and setting the term to 10 or 20 years. For anyone under 2x-3x the median household income, the interest rate in 0%.

Bernie’s plan is ****ing loonball.

Edit: I’d also go after colleges and force the costs down. No public institution could charge above a certain amount. Tough ****. Go private or serve the PUBLIC.
Click to expand...

That last part.

Harvard’s endowment is larger than the gdp of many nations but costs still go up .
 
Re: 2020 Democratic Challengers III: The Wrath of Warren

Deutsche Gopher Fan said:
That last part.

Harvard’s endowment is larger than the gdp of many nations but costs still go up .
Click to expand...

True, but it was Harvard that began, about 13 or 14 years ago, to offer tuition free education (through grants) to admitted students from families that earned less than something like 65k per year and substantial, sliding-scale reductions to students whose families earning a lot more. A lot of well endowed schools followed suit. Middle class parents can send their kids to Harvard, Yale, Columbia, etc for little more than the cost of attending their in-state flagship university.
It is true, though, that those kids could probably get substantial merit-based aid at most other universities.

Your point, though, is that Harvard doesn't need money, and you're right. But a lot of other colleges and universities leave kids with as big or bigger debts, including for-profit schools that promise quick turnaround into the income stream.
 
dxmnkd316 said:
I’m not for cancellation of debt. I am for the government assuming all student loan debt, automatically refinancing it for the base rate, and setting the term to 10 or 20 years. For anyone under 2x-3x the median household income, the interest rate in 0%.

Bernie’s plan is ****ing loonball.

Edit: I’d also go after colleges and force the costs down. No public institution could charge above a certain amount. Tough ****. Go private or serve the PUBLIC.
Click to expand...

If we pay off everyone’s student debt, what incentive does that give for colleges to lower costs? If anything it will make costs go up and sends the message “borrow whatever you want:... the government will pay it off”
 
Re: 2020 Democratic Challengers III: The Wrath of Warren

I'm for loans at 1% interest or something along those lines. Banks still have to make their money and such, so SOME interest has to be charged. That being said, not sure how to lower tuition costs and still keep quality teachers.
 
The Rube said:
I'm for loans at 1% interest or something along those lines. Banks still have to make their money and such, so SOME interest has to be charged. That being said, not sure how to lower tuition costs and still keep quality teachers.
Click to expand...

If Teachers can get a better job at Walmart, let em :)
 
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