Biden urges Congress to pass his economic plans after weak jobs report: 'Our country needs these

[Yo_Mama_Been_Loggin]

Source: CNBC

investments'

President Joe Biden on Friday urged Congress to pass his more than $4 trillion economic agenda in order to boost sluggish job growth.

The president made his case for spending on infrastructure, climate policy and the social safety net after the Labor Department said the country added 235,000 jobs in August. The figure fell well short of the 720,000 jobs economists had expected.

Biden pinned the poor report on the highly contagious delta variant of the coronavirus and the reluctance of many eligible Americans to get a Covid-19 vaccine. He said the U.S. could boost its economy by reining in the virus and passing his two economic plans, which he said would help the middle class and make the country more resilient to the kind of extreme weather that knocked out power in New Orleans and crippled transit in New York City in recent days.

"Our country needs these investments," Biden said. "I'm not asking for anything other than some fairness being injected into the system."



Read more: https://www.msn.com/en-us/news/politics/biden-urges-congress-to-pass-his-economic-plans-after-weak-jobs-report-our-country-needs-these-investments/ar-AAO4DW2?li=BBnbfcQ&ocid=DELLDHP

[Farmer-Rick]

1. You know what would be far easier and stimulate the economy twice as much?

If Biden forgave all federal student loans.

He could do it with an executive order and all that money about to be paid to already rich people would go to buying stuff.

[former9thward]

3. Almost all federal student loans are paid to the federal government.

Been that way since about 2011.

[Farmer-Rick]

4. Who do you think gets rich off of federal student loans?

"A generation ago, Congress privatized a student loan program intended to give more Americans access to higher education.

In its place, lawmakers created another profit center for Wall Street and a system of college finance that has fed the nation’s cycle of inequality. Step by step, Congress has enacted one law after another to make student debt the worst kind of debt for Americans – and the best kind for banks and debt collectors."

"For ( Albert) Lord, student loans have been the road to riches.
(A multimillionaire) He was the CEO who built Sallie Mae into a financial colossus through fees, interest and commissions on billions of dollars of federally guaranteed student loans. For delivering handsome profits to investors, Lord received pay and stock worth hundreds of millions of dollars."

https://www.google.com/amp/s/revealnews.org/article/who-got-rich-off-the-student-debt-crisis/

I use to think that too. That Federal Student Loans were simply a loan you got from the federal government. In capitalism, no loan program stays alive unless someone is making big money off it.

[former9thward]

5. From your own link

Its the federal goverment getting rich.

One of the winners in the profit spree behind this debt: the federal government. By the Department of Education’s own calculations, the government earns in some years an astounding 20 percent on each loan.

“The United States government turns young people who are trying to get an education into profit centers to bring in more revenue for the federal government,” Sen. Elizabeth Warren, D-Mass., said on the Senate floor in February. “This is obscene. The federal government should be helping students get an education – not making a profit off their backs.”

https://revealnews.org/article/who-got-rich-off-the-student-debt-crisis/

[Bev54]

2. Poor jobs report? Did they forget about the past 2 mos?

Sure it went down in Aug but June and July soared. The average month over month is over 600,00o jobs. Why do they all forget this shit when it comes to Biden