Sanders to propose canceling entire $1.6 trillion in US student loan debt

Discussion in 'Elections & Campaigns' started by Bluesguy, Jun 24, 2019.

  1. Reality

    Reality Well-Known Member

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    Quit trying to sell me your snake oil thief.
     
  2. Reality

    Reality Well-Known Member

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    So you're claiming it's a voluntary taking without coercion?
     
  3. squidward

    squidward Well-Known Member

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    The treasury does not create currency.
    Sorry for your confusion
     
  4. a better world

    a better world Well-Known Member

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    I can't at this stage* (see below), but nevertheless the concept of a consolidated government sector which includes a treasury and a central bank, overseeing a non government sector which includes private banks, remains valid. As does the concept of a sovereign government with monopoly currency issuing powers.

    For example, you claim the central bank (Fed) is a private bank; and yet when the private banks started falling over during the neoliberal GFC, the government employed the agency of the central bank (with QE) to prevent the collapse of the entire private banking system (to avoid another Great Depression. Some lovers of neoliberal competitive free-market orthodoxy actually claim the government should not have intervened....)

    *I note this from 'Economics for sustainable prosperity' by Stephen Hail: "Conflation of the central bank with the consolidated government sector is sometimes objected to by critics of MMT, because it is not consistent with current institutional arrangements....but as Minsky said, current institutional arrangements that are a barrier to the public purpose can always be changed."
     
  5. Dissily Mordentroge

    Dissily Mordentroge Well-Known Member Past Donor

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    Since when was voting one way or another compulsory in the US?
     
  6. tharock220

    tharock220 Well-Known Member

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    This is an idea I've floated to people. Freshmen and sophomores should be ineligible for federal financial aid if they're attending a four year university. It would have the added benefit of allowing expanded eligibility for financial aid.
     
    Last edited: Jul 5, 2019
  7. Reality

    Reality Well-Known Member

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    Taxation is not voting now is it?
    That's a nice dodge you've got there though, be a shame if no one paid any attention to it because it's not relevant.

    Is taxation mandatory or voluntary? Is coercive force implied or explicit for non payment?
     

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