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$300B error. Staggering.
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$300B error. Staggering.


Jul 29, 2022, 10:23 PM

Every President from Clinton to Biden have clearly played a role in this, but off the top of my head, Obama nationalizing the student loan industry has to be up there as one of the most expensive and detrimental non-military governmental mistakes of the modern era. This is just another chapter, and wiping loan debt will just be doubling down on the mistakes.

https://www.npr.org/2022/07/29/1114560119/student-loan-program-cost


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Whenever Gubmit wants to take over anything ...


Jul 29, 2022, 11:37 PM

Student Loans
Mortgage Industry
Education
Healthcare

It is always a really, really, really bad idea.

What do they say about insanity ? Doing the same thing and expecting a different result.

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Commies gonna commie.***


Jul 30, 2022, 12:05 AM



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Re: Whenever Gubmit wants to take over anything ...


Jul 30, 2022, 7:24 AM [ in reply to Whenever Gubmit wants to take over anything ... ]

clemchem® said:

Student Loans
Mortgage Industry
Education
Healthcare

It is always a really, really, really bad idea.

What do they say about insanity ? Doing the same thing and expecting a different result.


Nothing is free! Did anyone actually think that our government officials would cut the cost on their private jet travels, 5 star hotel dining, lake house estate renovations, winter cabin remodels, and snazzy social parties to actual cut checks to student loan companies did you?

No they are taking the tax payers money… You know, the student or the parent of the student who is also footing the bill for the student loan in the first place!

Wake up people

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only minor flaw in this argument


Jul 30, 2022, 7:55 AM

A lot of people are employed by these things.

It's like actual trickle down.

Dishwasher, mater dee, server, GM, etc all get paid during dining at 5 Star places.

Skilled laborers are getting paid for those renos and remodels.

Lavish social events from valet to event staff are all getting paid.



I'm biased due to my work, but I'd rather them spend money where regular folks are getting paid than them take that money straight to a great investment on an insider trade tip where nobody else is benefited.

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Re: only minor flaw in this argument


Jul 30, 2022, 8:21 AM

fluffhead said:

A lot of people are employed by these things.

It's like actual trickle down.

Dishwasher, mater dee, server, GM, etc all get paid during dining at 5 Star places.

Skilled laborers are getting paid for those renos and remodels.

Lavish social events from valet to event staff are all getting paid.



I'm biased due to my work, but I'd rather them spend money where regular folks are getting paid than them take that money straight to a great investment on an insider trade tip where nobody else is benefited.


I’d say to that that the majority of general labor individuals doing these cabin renos, hotel upkeep, and remodels on homes/ businesses are undocumented immigrants that haven’t paid taxes in their life. But by all means, keep milking the taxpayers, you know the ones who put you there in the first place!

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Re: only minor flaw in this argument


Jul 30, 2022, 8:55 AM

You believe that a majority of employees at national hotel chains are undocumented workers?



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Re: only minor flaw in this argument


Jul 30, 2022, 9:51 AM

There are literal websites giving step by step instructions on how to work in the U.S illegally. Laugh all you want to kid, the results are as plain as day. If you don’t think so. Get out of your 10 x 10 room from your PlayStation and go observe with your own eyes! I bet I can drive to any nearly any construction site, both private or industrial and find several undocumented. Facts are facts regardless if you still refuse to believe them or not.

https://curbelolaw.com/how-to-get-a-job-in-the-united-states-while-being-illegal/


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Re: only minor flaw in this argument


Jul 30, 2022, 10:35 AM

Yes, I'm LOLing. National hotel chains have HR departments and they want to get tax credit for paying their employees. They are also subject to major penalties if they are caught. And, from YOUR own link, here is tip #2 for working illegally.

2. Visit small businesses: Even in this online world you can choose to visit small stores, factories or restaurants that are hiring. In many you will find a sign outside.

Also from YOUR own link

Among the jobs MOST provided to illegal immigrants are:

Community gardening.
Sewing and tailoring.
Laundry services.
Personal care.
Sellers in various shops.
Home clean.
Car cleaning.

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Re: only minor flaw in this argument


Jul 30, 2022, 2:45 PM


Yes, I'm LOLing. National hotel chains have HR departments and they want to get tax credit for paying their employees. They are also subject to major penalties if they are caught. And, from YOUR own link, here is tip #2 for working illegally.

2. Visit small businesses: Even in this online world you can choose to visit small stores, factories or restaurants that are hiring. In many you will find a sign outside.

Also from YOUR own link

Among the jobs MOST provided to illegal immigrants are:

Community gardening.
Sewing and tailoring.
Laundry services.
Personal care.
Sellers in various shops.
Home clean.
Car cleaning.


So you are okay with undocumented aliens. Good do know!

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Re: only minor flaw in this argument


Jul 30, 2022, 3:09 PM

No, just LOLing at another failed narrative of yours.

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Re: only minor flaw in this argument


Jul 30, 2022, 9:52 AM [ in reply to Re: only minor flaw in this argument ]


You believe that a majority of employees at national hotel chains are undocumented workers?



And yes, go to nearly any resort in Florida, you will see!

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horrible opinion and philosophy


Jul 30, 2022, 9:22 AM [ in reply to only minor flaw in this argument ]

Leave the money in the private sector and it will be 10x more beneficial than pretending there is good in paying the gubment $1 to have $0.05 come out the other side.

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Re: only minor flaw in this argument


Jul 31, 2022, 11:03 PM [ in reply to only minor flaw in this argument ]

fluffhead said:

A lot of people are employed by these things.

It's like actual trickle down.

Dishwasher, mater dee, server, GM, etc all get paid during dining at 5 Star places.

Skilled laborers are getting paid for those renos and remodels.

Lavish social events from valet to event staff are all getting paid.



I'm biased due to my work, but I'd rather them spend money where regular folks are getting paid than them take that money straight to a great investment on an insider trade tip where nobody else is benefited.


I hope we can find what position you are in so we can remove you from it ASAP! This has been the problem all along and you are part of it!

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Re: $300B error. Staggering.


Jul 30, 2022, 6:06 AM

Since college is going to be “free”, S.C. Can now use that lottery money for K-12, and get rid of vehicle property taxes. Like they promised when “selling” the lottery.

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Re: $300B error. Staggering.


Jul 30, 2022, 6:09 AM

They promised a lot of things when selling that get rich quick program for morons.

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I think the more staggering thought is that there are still


Jul 30, 2022, 6:22 AM

people among us that believe in the accuracy of any Government projection - be it on economics, healthcare, or anything else the Government ultimately dabbles in and ruins. I cannot recollect a single time that a Government spending projection, tax collection, or "savings" has ever been accurate or realized.

We all knew that the student loan system would go off the rails the moment Obama nationalized the industry. A simple rule of Government that many refuse to learn is that when the Government gets involved in an activity - the costs go up, efficiency and quality go down, and ultimately the Government's intrusion becomes a burden on the taxpayer.

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Re: I think the more staggering thought is that there are still


Jul 30, 2022, 6:31 AM

I agree 100%. I’ve always wondered something. Why does the government seem to attract and breed incompetence? Think about every government agency and program compared to the private sector.

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create/allow problems to be able to assign people and money


Jul 30, 2022, 8:07 AM

to fix said problems

Therefore, showing your "worth" to be able to help in fixing these things for the people. The more you look like you are helping and care about fixing the problems, the more votes you get from people that want to see you continue to help in fixing the problem.

It's job security and a way to get resources

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They never face any consequences. There is no creative destruction


Jul 30, 2022, 8:32 AM [ in reply to Re: I think the more staggering thought is that there are still ]

And perversely they actually get more money to spend the more they screw up. So failure is inevitable.

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Re: I think the more staggering thought is that there are still


Jul 30, 2022, 9:33 AM [ in reply to Re: I think the more staggering thought is that there are still ]

Tardog, the root cause of the gubment being incompetent is that it does not have to provide quality services or products to stay in business. There is no reinforcing function that rewards the gubment and its incompetent workers for doing "good" work. Similarly, there is no penalty function for providing chitty products and services.

Compare that to the restaurant on the corner. How do they survive?

Firing someone in the federal government is nearly impossible. Certainly firing them for being a lazy unproductive worker almost NEVER happens.

And, high performing smart people do not want to work in an environment with a bunch of dumba$$es. So these people naturally stay away from gubmint jobs.

The majority of gubment workers would not be successful in private industry in a meritocracy.

Worse yet is the cancer called bureaucracy that naturally grows people, positions, and departments that are unnecessary and add no value. In fact, additional people are thought to be needed to get more work done due to the stagnating rules created by existing bureaucracy.

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Re: I think the more staggering thought is that there are still


Jul 30, 2022, 10:43 AM

My question was actually more rhetorical in nature but you answered it perfectly. I have a business. I actually have to perform to succeed. When I screw up guess what? I have to come out of pocket to make things right. Gubment never has the accountability and expectations that the private sector has.

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Re: I think the more staggering thought is that there are still


Jul 30, 2022, 1:08 PM

And when you recruit to hire employees for your business do you care about the color of their skin or their gender? I think I know the answer - you want people who will work to advance themselves and your business!

Meritocracy is the only way. You get what you work for...

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Re: I think the more staggering thought is that there are still


Jul 30, 2022, 1:35 PM

Correct, I never gave a hoot about someone’s race or gender when hiring. The person who seemed like the best fit got the job. I didn’t care if he or she was a purple kangaroo.

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Imagine you are running a business and all of a sudden


Jul 30, 2022, 3:25 PM

things start going South. You might have to suck it up and take a huge pay cut or even get no income or fire or layoff people you like and are doing their job. You might have to borrow money or sell personal assets to make things work until you can get profitable again.

Most business owners have had to do these sorts of things.

Now imagine you are a government agency. You throw your hands up and say not my fault this or that changed, I need more money...and...you will get it. Next time it happens you know what to do.

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Re: Imagine you are running a business and all of a sudden


Aug 1, 2022, 6:31 AM

That part about sucking it up and taking a huge pay cut, you mean like right now in the Biden economy? As you said, how many govt employees are having to do what businesses are doing right now? You are correct, the answer is zero. They couldn’t care less about the economy we live in. It doesn’t touch their cushy little world.

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Obamacare strikes again.


Jul 30, 2022, 8:00 AM

Obama said nationalizing student loans would help pay for Obamacare.

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And still little-to-no talk about the actual cost of....


Aug 1, 2022, 7:57 AM

College education. All of the focus on financing that rising cost and/or forgiveness of said loans.

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I've jumped head-first into that one before.


Aug 1, 2022, 8:05 AM

The two are absolutely intertwined. Removing the guaranteed govt loan bonanza that colleges experienced would absolutely shrink the price elasticity for the average consumer of a college tuition, causing enrollments to drop and ultimately resulting in tuition decreases, but it sucks that a generation of potential college students not being able to go to their school of choice would be the impetus for the tuition decrease.

I'm not sure how else to do it other than govt-imposed price caps, which would have numerous negative ramifications of their own.

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Agreed...for state funded schools...


Aug 1, 2022, 8:21 AM

There ought to be a way to implement some level of control without effing it up too much.

A start could he a limit on the amount spent on admin, better control on building/capital expenses, tightening of educational mission, and things along those lines.

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