Senate Passes Biden's $1.9 Trillion Stimulus Bill, Sending Back to House for Final Approval

[Thavoiceofthevoiceless]

What’s the root problem?

Cost of college steadily rising + interest rates = student loan debt

So even if you were to forgive $10,000, depending on the amount you owe and the interest rate, that amount will balloon back up if you aren't covering the difference in the interest to make a dent on the principal balance. That's why the majority of student loan amounts are as outrageous as they are.

Rising cost of rent prices + stagnant wages = rent crisis

Wages are not going up to offset the rising cost of rent prices and other necessities. The majority of people were struggling to cover their rent anyways even before COVID-19 happened. So throwing at the problem won't solve it as they still won't be able to make their rent payments and will end up getting evicted anyways. Even with the government throwing bread at people, they are still be poor as the root of the problem isn't being addressed. That money is going to run out quick that they are giving people. It's a patch and not actually addressing the problem.

 

[Saysumthinfunnymike]

Right. I’m not trying to hear this shyt. If you make 200k and are getting pressed about $1400 then something is not adding up.

that's all there is to say about it. i don't make $200k but i certainly do not need $1400. congrats to everyone getting it tho... a lot of people need it.

 

[Saysumthinfunnymike]

You’d be surprised. People live above their means

that's their problem.

 

[CrimsonTider]

Cost of college steadily rising + interest rates = student loan debt

So even if you were to forgive $10,000, depending on the amount you owe and the interest rate, that amount will balloon back up if you aren't covering the difference in the interest to make a dent on the principal balance. That's why the majority of student loan amounts are as outrageous as they are.

Rising cost of rent prices + stagnant wages = rent crisis

Wages are not going up to offset the rising cost of rent prices and other necessities. The majority of people were struggling to cover their rent anyways even before COVID-19 happened. So throwing at the problem won't solve it as they still won't be able to make their rent payments and will end up getting evicted anyways. Even with the government throwing bread at people, they are still be poor as the root of the problem isn't being addressed. That money is going to run out quick that they are giving people. It's a patch and not actually addressing the problem.

But this is a Covid relief bill and the rent and mortgage relief goes to people who ability to pay was affected by the pandemic

 

[Thavoiceofthevoiceless]

You’d be surprised. People live above their means

Or could be that they are having to take care of grown up kids/grandkids.

You'd be surprised at the number of people who have to do it.

 

[Thavoiceofthevoiceless]

But this is a Covid relief bill and the rent and mortgage relief goes to people who ability to pay was affected by the pandemic

The problem(s) were already there even before the pandemic hit. The pandemic only made them worse as people got even further behind on their rent and student loans. The problem is still going to be there even after the moratorium ends.

 

[CrimsonTider]

The problem(s) were already there even before the pandemic hit. The pandemic only made them worse as people got even further behind on their rent and student loans. The problem is still going to be there even after the moratorium ends.

But that’s a separate issue that can’t be solved here

 

[Thavoiceofthevoiceless]

But that’s a separate issue that can’t be solved here

It can and should be solved here as those same people won't be able to make their rent/student loan payments once the moratorium ends. The ramifications and fallout from COVID-19 is not going to magically disappear once things return to "normal."

A lot of jobs aren't coming back and people won't be making the previous amount of money as they did before. If those rent and student loan problems aren't addressed, then you'd find families in the same situation as they are now.

This bill addressing the now problems. The next one (which will more than likely be the last one) should address the problems and fallout in the future.

 

[mobbinfms]

we’re talking about someone making 200k not 50k if they’re living above their means they are still bringing enough money every month to do whatever they need too

200k in NYC with two kids. Not sure where in NYC though or if the kids are in private school or not. Point is that 200k in NYC with a family of four is very different than 200k in Montana.

all that being said, he absolutely is not entitled to a stimulus check because he paid $35k in taxes. That’s not what this is supposed to be about.

 

[mobbinfms]

Depends on debt

Exactly. Depends on a lot of things.

 

[mobbinfms]

That's not enough to catch everybody up who is behind on rent/mortgage. Even if it was, the root of the problem is still present so the amount owed would go back up again in a few years.

Similar to the issue that's present with student loans. Forgiving a percentage of student loans, yet not doing anything about the interest rates or the cost of college. The debt would balloon back up again and require another bailout.

Th problem is one year of unpaid rent. If the government pays the landlords on behalf of the tenants, doesn’t that solve the problem?

 

[mobbinfms]

Or could be that they are having to take care of grown up kids/grandkids.

You'd be surprised at the number of people who have to do it.

He said it’s just four of them.

 

[mobbinfms]

It can and should be solved here as those same people won't be able to make their rent/student loan payments once the moratorium ends. The ramifications and fallout from COVID-19 is not going to magically disappear once things return to "normal."

A lot of jobs aren't coming back and people won't be making the previous amount of money as they did before. If those rent and student loan problems aren't addressed, then you'd find families in the same situation as they are now.

This bill addressing the now problems. The next one (which will more than likely be the last one) should address the problems and fallout in the future.

Quick action was needed here though. Delaying to craft a bill that attempted to fix all of society’s ills would have been counterproductive.

 

[Thavoiceofthevoiceless]

Th problem is one year of unpaid rent. If the government pays the landlords on behalf of the tenants, doesn’t that solve the problem?

Not necessarily because a lot of jobs and wages aren't coming back because of COVID-19. Even if they were to give an amount towards unpaid rent this stimulus, they still are going to have to come with another bailout for landlords in September when the rent moratorium ends. You're throwing money to patch the problem, but the root of the cause (outrageous rent prices) is still there.

COVID-19 is not the cause of the problem as people were struggling to pay their student loans and rent before COVID-19. COVID-19. The pandemic just made it worse and threw people even further behind than what they were previously.

This stimulus I would consider as a "patch", while the next one needs to address the root of the cause and the ramifications and fallout for the future. I'm fine with this one being as it is. That's why I mentioned a few posts ago that now they can focus on the future.

 

[Thavoiceofthevoiceless]

He said it’s just four of them.

Oh I was just referring to people in general. $200K isn't a lot depending on how many family members you got plus the amount of student loan debt you have. Just because you make a lot of money doesn't mean that you don't have the student loan debt or the means to pay it off as quick.

The ironic part about it is that some people on here were saying that 80K is considered well off when they are saddled with $30K+ plus themselves and a family to provide for. 80K ain't going that far with those type of bills.