DNC Debates, Round 2 - Page 11
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  1. #131
    BamaNation Hall of Fame jthomas666's Avatar
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    Re: DNC Debates, Round 2

    Today I learned that despite having been laid off last month, I still have a net worth greater than some of the gainfully employed. My self-worth appreciates your support.

    [several interviews pending, so prospects, as they say are good.]

    But this does illustrate the need for some sort of student loan relief. Yes, I paid mine loan off all by my little lonesome, but college costs have been spiraling out of control for well over a decade (also, I only had to take out a loan for one year). Even now they're talking about a potential housing bubble because student loan debt is preventing younger people from buying their own homes.
    Last edited by jthomas666; July 3rd, 2019 at 07:58 AM.
    This is the darkest timeline.

  2. #132
    BamaNation Hall of Fame Go Bama's Avatar
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    Re: DNC Debates, Round 2

    Quote Originally Posted by CharminTide View Post
    Raises hand.

    Thanks, student loans.
    Quote Originally Posted by RollTide_HTTR View Post
    Seconded on both accounts
    Every student that leaves school with a student loan has a negative net worth, otherwise they would not have been granted the loan. Did you guys get a degree? Are you calculating the value of your degree when you say you have a negative net worth? No need to answer.

    The implication I took from saying the 3 billionaires have more than half the American population is that half the population is destitute. I just don’t find that to be the case. There is a difference in having a negative net worth and being refugee poor.

    What would help you guys with student debt would be to remove the interest and credit any interest that’s been paid toward the principal of your loan.

  3. #133
    BamaNation Hall of Fame CharminTide's Avatar
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    Re: DNC Debates, Round 2

    Quote Originally Posted by Go Bama View Post
    Every student that leaves school with a student loan has a negative net worth, otherwise they would not have been granted the loan. Did you guys get a degree? Are you calculating the value of your degree when you say you have a negative net worth?
    Well, you could use the same logic to say that credit card debt isn't real, because the 55" OLED you couldn't afford still has some intrinsic value.

    The implication I took from saying the 3 billionaires have more than half the American population is that half the population is destitute. I just don’t find that to be the case. There is a difference in having a negative net worth and being refugee poor.
    I agree that debt alone doesn't make someone destitute, so the measurement here might reflect pure numbers rather than quality of life. As long as I remain employed, my debt isn't too burdensome (other than extending my working life by eating into what would otherwise be saved for retirement). But if I lose my job anytime in the next 8-10 years, it will quickly become suffocating.

    What would help you guys with student debt would be to remove the interest and credit any interest that’s been paid toward the principal of your loan.
    Absolutely. This seems like the lowest hanging fruit of federal student loan reform, and I'm surprised it doesn't get talked about more.

  4. #134
    BamaNation Hall of Fame jthomas666's Avatar
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    Re: DNC Debates, Round 2

    Quote Originally Posted by CharminTide View Post
    As long as I remain employed, my debt isn't too burdensome (other than extending my working life by eating into what would otherwise be saved for retirement). But if I lose my job anytime in the next 8-10 years, it will quickly become suffocating.
    There's the rub. Just as people without health insurance are in decent shape so long as they do not have a major health crisis, People with strong debt burdens are ok provided that they remain employed.

    And trust me, you can be damned good at your job and still get laid off.
    Last edited by jthomas666; July 2nd, 2019 at 02:36 PM.
    This is the darkest timeline.

  5. #135
    BamaNation All-SEC Moro Creek's Avatar
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    Re: DNC Debates, Round 2

    You can also be really good at your job, retire, and get sucked back in part time.

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