EconWatch.com > Stimulate the economy with student loan forgiveness?

[WalletPop Blog] Forgiving student loans as part of a stimulus package has a certain appeal to it -- It's definitely a better idea than paying bonuses to the losers at AIG. And as Applebaum writes, it would certainly increase consumer spending:

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[Right Minded Online] Today’s Lebanon Democrat column: “The AIG bonus crisis of 2009 ...: To illustrate just how classless our elected leaders have become, Iowa Senator Charles Grassley (a Republican, no less) crassly remarked “I suggest, you know, obviously, maybe [AIG executives] ought to be removed, but I would suggest the first thing that would make me feel a little bit better toward them if they’d follow the Japanese example and come before the American people and take that deep bow and say, I’m sorry, and then either do one of two things: resign or go commit suicide.”

[the html times] Forgiving Student Loan Debt: AIG’s plans to distribute $165 million dollars from the tax-dollar funded government bailout in the form of multi-million dollar bonuses sent mini tidal waves crashing around the halls of Wall Street and Washington this Month. ... Applebaum goes on to argue that "Forgiving student loan debt would have an immediate stimulating effect on the economy... Responsible people who did nothing other than pursue a higher education would have hundreds, if not thousands of extra ...

[Queercents] Queercents » Blog Archive » Could Student Loan Forgiveness ...: After months of stories about corporate execs getting bailed out of their bad debts, many of us are wondering where our economic stimulus plan is. Why is it that hardworking, responsible people have to continue paying off their debts, but the AIG and Citigroup types of the world get a free pass?

[Future Majority - - blogging progressive youth politics] Want an Economic Stimulus? Forgive Student Loans. | Future Majority: The 35 year old started up an online campaign this month to bail out those "hard-working, educated middle class" suffocating in college loan debt on Facebook. He formed the group "Cancel Student Loan Debt to Stimulate the Economy" because he believes forgiving student loan debt for those making under $150,000 annually would help boost the economy from "the bottom up."

[The Anniston Star] Speak Out ... Ladiga Trail can help reverse negative images of ...: If I ever found it in my power to come to a reasonable conclusion when accosted by a liberal paradox, I'd just give up and become a Democrat. It's absurd to march and protest the execution of a violent career criminal who's murdered somebody and on the other hand condone the taking of an innocent baby who hasn't done a thing.

[Everyone's Blog Posts - ConsimWorld] AIG and Bills of Attainder - ConsimWorld: As soon as the leaders in the House and Senate started talking about about recovering the AIG bonuses by taxing them at close to 100%, a phrase whipped through my head: Bill of Attainder. Bills of attainder are expressly forbidden in Article I, Section 10 of the Constitution.

[Warren's space] More on AIG bonuses: For him to be voting for some of these bail outs goes completely against his grain.  Then to find out from the press that a company like AIG was giving out those size bonus’s to people that ran the company into the ground and at the same time expecting billions in tax payers money because they are too big to go under it does not make since to reward them.  They should be I am sure in his mind feel lucky they still have jobs.  They should want to stay and help revive their own reputations.  Who would or should hire people that did what they did to that company.  I think that is some of the feelings going around the hill.   Sort of what is the next shoe to drop, what are we going to be surprised by tomorrow.   I think they have had it up there in dealing with these kinds of issues ”¦finding out about them after the fact.  I have seen Senator Grassley several times take on an issue such as this one when he feels someone or some group is stonewalling him on information.  But when he gets the information and understands that the taxpayers are getting the best they can for whatever the issue is then you will see that they will someone that will work with them.  It’s a matter I think of being blindsided and frustrated so yes maybe Congress does deserve some of the blame.  But when they are asked to do what they are doing they do have a right to know all the facts and when they are not given them they react the way they are.  Their phones are ringing off the hook from their constituents yelling at them for what the government is doing by propping up these failed companies with their tax dollars.  Many of them don’t feel its right.  So they are squeezed the whole issue. 

[Say Anything: Reader Blogs] Bismarck Tribune: Pomeroy Rant Was “Childish And Self-Serving ...: Pomeroy doesn’t try to claim that he didn’t know there were authorizations for the AIG bonuses inserted into the economic “stimulus” spending spree by the Obama administration by way of Senator Chris Dodd. politician in Washington DC who voted for the TARP bailouts and/or the economic “stimulus” spending spree.

[The Conversation] White House Time Bombs - The Conversation Blog - NYTimes.com: The stimulus package contains spending 5 billion dollars on tests and data systems to track test scores. This may be viewed as a gesture to Republicans, but it is a waste of money in an economy where the government must spend money and must make every dollar count.

[articles blog] American Daily Review - articles blog - Lather, Rinse, Repeat: The State must consider a thorough reconstruction of our national system of education (with the aim of opening up to every able and hard-working German the possibility of higher education and of thus obtaining advancement). The curricula of all educational establishments must be brought into line with the requirements of practical life.

[CNN Political Ticker] CNN Political Ticker: All politics, all the time Blog Archive ...: He lied to reporters about not knowing who put the clause in the legislation that would payout bonuses to AIG Execs, then recanted the next day during an interview with Wolf Blitzer in the Situation Room - adding, he placed the clause in there with the urging of Obama's treasury officials. He is also in trouble because he was a huge recipient of AIG funding last year, a nice $103,000 in donations for his failed presidential campaign.

[race42008.com] race42008.com » Blog Archive » The Zimbabwification of the US ...: Like Mugabe, the Obama political team will not hesitate to brand conservatives and business owners as racists, enemies of the state, thieves and destructive to our economy.  They will continue to develop artificial anger from the working class to deflect criticism from their own failed policies.  I will not go as far to say that CEO’s will have their properties seized and families murdered, but how far away are we from Zimbabwe when just three months in to his administration, Obama and his populist friends are passing legislation to tax specific individuals at rates of 90% and assisting citizens to send treats to AIG Managers, by publicly releasing their names?

[Hot Air TV] Hot Air » Blog Archive » Quotes of the day: Already reeling from our last adventure in making the poor rich with property, we now follow our Will Smith wannabe and his gang of tax cheats and congressional mental cases into economic collapse. On the plus side, we shall have ghetto schools, solar panels, windmills and electric cars in good physical condition.

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