BY THE NUMBERS: The Inflation Reduction Act
August 15, 2022 • Statements and Releases


The Inflation Reduction Act will lower costs for families, combat the climate crisis, reduce the deficit, and finally ask the largest corporations to pay their fair share. President Biden and Congressional Democrats have worked together to deliver a historic legislative achievement that defeats special interests, delivers for American families, and grows the economy from the bottom up and middle out.

Here’s how the Inflation Reduction Act impacts Americans by the numbers:

HEALTH CARE

Cutting Prescription Drug Cost

• Today, Americans pay two to three times what citizens of other countries pay for prescription drugs
• 5-7 million Medicare beneficiaries could see their prescription drug costs go down because of the provision allowing Medicare to negotiate prescription drug costs.
• 50 million Americans with Medicare Part D will have the peace of mind knowing their costs at the pharmacy are capped at $2,000 per year, directly benefiting about 1.4 million beneficiaries each year.
• 3.3 million Medicare beneficiaries with diabetes will benefit from a guarantee that their insulin costs are capped at $35 for a month’s supply.

Lowering Health Care Costs

• 13 million Americans will continue to save an average of $800 per year on health insurance premiums
• 3 million more Americans will have health insurance than without the law.
• The uninsured rate is at an all-time low of 8%, which the historic law will build on.

Defeating Special Interests

• $187 million: The amount the Pharmaceutical industry has spent on lobbying in 2022.
• 1,600: number of lobbyists the pharmaceutical companies had in 2021 – three times the number of Members of Congress
• 33 years: the amount of time Congressional Democrats have been trying to lower prescription drug costs by allowing Medicare to negotiate drug prices.
• 19 years: number of years Medicare has been blocked from negotiating prescription drug costs

CLEAN ENERGY

Lowering Energy Costs

• Families that take advantage of clean energy and electric vehicle tax credits will save more than $1,000 per year.
• $14,000 in direct consumer rebates for families to buy heat pumps or other energy efficient home appliances, saving families at least $350 per year.
• 7.5 million more families will be able install solar on their roofs with a 30% tax credit, saving families $9,000 over the life of the system or at least $300 per year.
• Up to $7,500 in tax credits for new electric vehicles and $4,000 for used electric vehicles, helping families save $950 per year.
• Putting America on track to meet President Biden’s climate goals, which will save every family an average of $500 per year on their energy costs.

Building a Clean Energy Economy

• Power homes, businesses, and communities with much more clean energy by 2030, including:
  • 950 million solar panels
  • 120,000 wind turbines
  • 2,300 grid-scale battery plants
• Advance cost-saving clean energy projects at rural electric cooperatives serving 42 million people.
• Strengthen climate resilience and protect nearly 2 million acres of national forests.
• Creating millions of good-paying jobs making clean energy in America.

Reducing Harmful Pollution

• Reduce greenhouse gas emissions by about 1 gigaton in 2030, or a billion metric tons – 10 times more climate impact than any other single piece of legislation ever enacted.
• Deploy clean energy and reduce particle pollution from fossil fuels to avoid up to 3,900 premature deaths and up to 100,000 asthma attacks annually by 2030.

TAXES

Making the Tax Code Fairer

• $0: how much some of largest, profitable corporations pay in federal income tax.
• 55: the number of America’s largest, wealthiest corporations that got away without paying a cent in federal income taxes in 2020.
• $160 billon: how much the top 1 percent of earners is estimated to evade each year in taxes.
• 15%: the minimum tax on corporate profits the Inflation Reduction Act imposes on the largest, most profitable corporations.
• $124 billion: savings over 10 years the Inflation Reduction Act will generate from collecting taxes already owed by wealthy people and large corporations, according to the Congressional Budget Office.
• And no family making less than $400,000 will see their taxes go up a penny.

Reducing the Deficit

• The Inflation Act will achieve hundreds of billions in deficit reduction.
• The deficit is projected to fall by more than $1.5 trillion this year after falling by more than $350 billion last year.
• 126 leading economists – including 7 Nobel Laureates, 2 former Treasury Secretaries, 2 former Fed Vice Chairs and 2 former CEA Chairs – have said reducing the deficit will help fight inflation and support strong, stable economic growth.

https://www.whitehouse.gov/briefing...5/by-the-numbers-the-inflation-reduction-act/

 

Mark this spot.
It will be fun in a year to see how much propaganda and lies about bidens pig bill will be exposed.

 

Biden approval rating ticks up 3 points in one week: poll
by Caroline Vakil - 08/17/22 2:54 PM ET

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President Biden’s approval rating ticked up 3 percentage points in the past week, according to a Politico-Morning Consult poll released on Wednesday, as Democrats scored a major legislative win with the passage of their climate, health care and tax reform package.

The poll showed that 42 percent of registered voters said they approve of the job Biden is doing as president. The same poll released last week showed Biden’s approval rating was at 39 percent.


At the same time, the number of registered voters who said they disapproved of his job performance dropped from 59 to 56 percent.

More people in the latest poll also said the country was on the right track — 30 percent, compared to 25 percent last week. Seventy percent of registered voters said it was on the wrong track, compared to 75 percent the previous week.

The latest poll is likely welcome news for Democrats less than three months ahead of November’s midterm elections. Presidential approval ratings are considered one indication of how the president’s party will perform in elections, though Biden’s numbers remain underwater and Democrats still face other headwinds.


The survey was conducted in the days after House Democrats passed a sweeping health care, tax reform and climate bill, with every member of the caucus voting in favor. Senate Democrats had passed the bill through reconciliation the previous week.


It was a key win for the president and his party after a year of trying to pass various versions of a larger climate and social spending bill and being stymied by Sen. Joe Manchin (D-W.Va.) because passing the measure through reconciliation required the support of all 50 Democrats.




The surprise deal between Manchin and Senate Majority Leader Charles Schumer (D-N.Y.) was a slimmed down package, but it still contained some of Biden’s campaign promises and significant climate investments.

The Politico-Morning Consult poll was conducted between Aug. 12-14, among 2,005 registered voters. The margin of error is plus or minus 2 percentage points.

https://thehill.com/homenews/campai...l-rating-ticks-up-3-points-in-past-week-poll/

 

Oh congradulations joe!
42??
EXCELLENT!
*laughing!

 

Irrational anger is a sign of dementia.

 

joey biden is the poster boy for dementia....

 

Fox’s Lisa Boothe Triggered Hearing Biden Is ‘Getting the Job Done’ in Heated Exchange: ‘I’m Going to Pull My Hair Out!’
By Zachary LeemanAug 19th, 2022, 12:55 pm
339 comments



In a Friday segment for The Faulkner Focus, Fox News’ Lisa Boothe and David Carlucci, a Democrat and former New York state senator, found little to agree on, with Boothe asking at one point, “Is this guy for real?”

“Yup,” guest host Trace Gallagher informed Boothe as Carlucci defended bail reform as a “work in progress.” Things came to a head in the close of the segment Gallagher turned to the $500,000 taxpayer-funded security fence that is being put at President Joe Biden’s Delaware home.


Gallagher asked Carlucci first if there was an “optics” problem with the fence in light of the migration crisis at the southern border and whether Biden has spent too much time away from the White House.

Carlucci offered nothing but praise for Biden, while Boothe shook her head in shock.

“I think the president is doing the job that the people elected him to do,” Carlucci said. “He’s had momentum. He’s had success. We have the Inflation Reduction Act, new healthcare measures for veterans. We’re fighting against climate change, so it doesn’t matter if he’s in the White House or Delaware, President Biden is getting the job done and much to the opposition of Republicans.”

Boothe responded by joking she was ready to pull her hair out and accusing the 79-year-old Biden of suffering from cognitive decline. She also blasted the security fence as hypocritical.

“I’m going to pull my hair out. Inflation, baby food shortage, an invasion at the southern border. Everyone’s lives are worse off because of this man, and they’re hiding him in the basement just like they did in 2020 because this is a guy who shakes the hands with air,” she said. “He probably thinks his name is Brandon from time to time. He’s clearly in cognitive decline. He should not be in the White House, he should be in a retirement home somewhere.”

Watch above via Fox News

https://www.mediaite.com/tv/foxs-li...heated-exchange-im-going-to-pull-my-hair-out/

 

White House breaks silence on Mar-a-Lago search with leak to CNN: report

Bob Brigham
August 19, 2022



President Joe Biden / Official White House photo by Cameron Smith.


In the moments after the FBI executed a search warrant at Mar-a-Lago, the administration stressed that President Joe Biden had no advance warning and the White House learned about the law enforcement action from Twitter. But now a "senior administration official" is speaking on the subject through anonymous quotes given to CNN.

The network reported, "White House officials have privately expressed deep concern over the tranche of classified material taken to former President Donald Trump’s home in Florida, including some documents that are only meant to be viewed only in secure government facilities, CNN has learned. As more information has emerged in the days since FBI agents combed the former President’s private residence, current administration officials have become increasingly concerned about what Trump took and whether that information – some located in a basement-level storage facility at Mar-a-Lago – could potentially put the sources and methods of the US intelligence community at risk."

Kaitlan Collins, Kevin Liptak, and Natasha Bertrand were the reporters on the story's byline.

The senior official told the network, "there is deep concern."

IN OTHER NEWS: Trump may shift midterms from a referendum on Biden to one on him — and torpedo the GOP: analysis

The concern reportedly extends to the intelligence community.

"Intelligence officials have also expressed concern about what Trump might have taken, according to a source with direct knowledge of the matter," CNN reported. "Intelligence community representatives have had discussions with the Justice Department, congressional intelligence committees, and the National Archives in recent months about potentially missing sensitive documents, the source said."

CNN noted, "White House officials have steadfastly maintained near-silence on the matter, insisting it is for the Justice Department to comment on the ongoing investigation."

Read the full report.


https://www.rawstory.com/white-house-mar-a-lago/

 

Well sometimes the irony is just more than we can ignore.
Biden building $490,000 taxpayer-funded security fence around beach house (msn.com)

The Department of Homeland Security awarded a company $456,548 to install the fence in September of last year, according to USAspending.gov. Since the original payment, costs have crept up to $490,324.

"Due to the need to maintain operational security, the U.S. Secret Service does not comment on the means, methods or resources used to conduct our protective operations," the Secret Service told Fox News when reached for comment regarding the construction.

BIDEN ADMINISTRATION TO FINISH PORTION OF TRUMP'S BORDER WALL FOLLOWING PRESSURE FROM DEMOCRAT

According to USAspending.gov, there have been two additional payments on top of the original $456,548 that led to the current total. A payment of $6,844 was made on Nov. 30, for "SUPPLEMENTAL AGREEMENT FOR WORK WITHIN SCOPE," specifically the installation of three "6X6 GRAVEL PADS AND CRANE SERVICES." The latest payment was made on June 8, to the total of $26,933, for "ADDITIONAL WORK."

The anticipated end date for the construction is given as June 6, 2023.

CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER

Biden is expected to head back to the $2.7 million Delaware beach house on Saturday, Fox News reported.

 

Biden's Closest Aide Throws Him Over and Makes for the Exits
By Nick Arama | Aug 23, 2022 6:45 PM ET

AP Photo/Manuel Balce Ceneta

It’s been a constant flood out the doors from aides fleeing the offices of Joe Biden and Kamala Harris. As we previously reported, there have been more than 30 senior staffers who have thrown over Biden and Harris since they started in office

Add one more to the list. The man who has been, in some ways, the closest aide to Joe Biden is now heading for the exits at the end of the week to a job at the Transportation Department.

Stephen Goepfert has been Biden’s “bodyman” since his 2020 campaign. A “bodyman” is a personal aide who follows him around from morning to night, helping him with anything he might need, carrying anything, and looking out for him. That can be a busy job with a normal person in the office, but if you think about how confused and messed up Biden often seems, it has to have been a nightmare always trying to cover his back.

Goepfert also has to have some stories that must be something, if he ever wanted to spill to anyone in the media. If you’ve worked at the White House but are willing to give it up to go to some undeclared position in the Transportation Department, when usually one works all one’s career to get to the White House, you know that it must have been tough. But we’ve seen this often, when it comes to people who want out of working for Biden and Harris.

https://twitter.com/Phil_Mattingly/...rows-him-over-and-makes-for-the-exits-n616685


“You’re literally at the border of where the President’s privacy and public duties sit — you have to have the right touch and right skill set,” Steve Ricchetti, a counselor to the President, told CNN. “Stephen has had the ability and the willingness to help the President navigate everything he did throughout the day. That ends up being a critical role.”

That’s one way of putting it. Caretaker for someone who should have retired long ago is another.

Biden put out a statement about Goepfert leaving.

“From the campaign to the White House, Stephen Goepfert has been by my side,” Biden said in a statement. “In moments big, small, and extraordinary, he’s been a trusted and loyal confidant who everyone counts on and who always delivers.”

“Jill and I will miss Stephen, but we’re proud that he will continue to serve the American people in his new role in the Biden-Harris administration as he continues his career in public service,” he continued.

Goepfert will be replaced by the White House receptionist, Jacob Spreyer.

https://twitter.com/HCBright10/stat...rows-him-over-and-makes-for-the-exits-n616685

They can keep replacing the people surrounding Biden and Harris, but the problem isn’t truly the staff. The problem is Biden, Harris, and the policies. There’s only so much lipstick you can put on the pig. The policies are still a failure–no matter how much you try to replace the staff or retool the messaging.

 

And here Shooter thought Jill was Joes body man.

 

Poll: Biden approval surges, rebounds to highest level since May

Andrew Romano
·West Coast Correspondent
Wed, August 24, 2022 at 10:32 AM



A new Yahoo News/YouGov poll shows that President Biden’s job-approval rating has shot up 5 percentage points since early August — its largest and most sudden change to date.

The president’s disapproval number, meanwhile, has fallen by 3 percentage points. Never before has Biden’s overall rating shifted that much in a matter of weeks.

The survey of 1,563 U.S. adults, which was conducted from Aug. 18 to Aug. 22, comes amid a run of good news for Biden and Democrats — a list that includes plummeting gas prices, the killing of a top al-Qaeda leader and the recent passage of landmark climate legislation paired with a popular plan to lower prescription drug prices. Biden’s improving numbers likely reflect these developments. (The president subsequently announced that his administration would cancel $10,000 in student-loan debt for Americans earning $125,000 or less per year.)


President Biden gathers with House Speaker Nancy Pelosi and Rep. Mark Takano after signing the PACT Act on Aug. 1. (Chip Somodevilla/Getty Images)
If Democrats are lucky, such numbers could mark the end of a prolonged summer slump for the president. As inflation soared, recession fears loomed and a gridlocked Senate stalled the president’s agenda, Biden’s approval rating ticked down on every Yahoo News/YouGov survey from June through August. Earlier this month it bottomed out at 35% approve to 56% disapprove among all Americans.

But now, days after signing his signature Inflation Reduction Act into law, the president seems to be gaining ground.

To be sure, Biden’s overall rating is still negative: 40% approve to 53% disapprove. That is his best number, however, since May, and it appears to signal two welcome trends for the White House: improving perceptions of the state of the U.S. economy and rebounding confidence in Biden among Democrats and independents.


Although views of the economy and the direction of the country remain gloomy overall, recent downward trends have reversed. Since early August:

● the number of Americans who rate the state of the economy as excellent or good is up 8 points (21%)

● the number who rate the economy as “poor” is down 9 points (to 46%)

● the number who say the economy is "getting worse" is down 12 points (to 51%)

● the number who say the economy is "in a recession" is down 5 points (to 48%)

● and the number who say the country is "generally headed in the right direction” is up 5 points (to 23%)

These are still not the kind of numbers any president wants to see heading into election season. But they coincide with rising approval ratings for Biden himself on an array of key issues: inflation (+7 points, from 26% to 33%), the economy (+5, from 30% to 35%), climate change (+4, from 38% to 42%) and race (+4, from 36% to 40%). A slightly larger number of Americans (41%) also approve of the job Biden is doing on “health care.”

Republican opposition to Biden has been nearly unanimous throughout his presidency — no surprise in such a partisan and polarized age. But the reason Biden’s numbers cratered over the summer is that Democrats and independents were increasingly objecting to his performance as well.

Those trends also appear to be turning around. Since early August, Biden’s approval is up 6 points among Democrats (to 78%) and 7 points among independents (to 33%). The contrast between Democrats and Republicans is especially stark. Among Democrats, perceptions of the economy as excellent or good have increased 11 points over the past few weeks, while “right direction” responses are up 9 points (from 37% to 46%). Among Republicans, those same numbers have barely budged (+4 and +1, respectively).

Passage of the Inflation Reduction Act is likely playing a role here. All three of its major reforms — investing hundreds of billions of dollars in slashing greenhouse gas emissions; lowering prescription drug cost by letting Medicare negotiate prices; raising revenue and reducing the deficit by closing corporate and high-income tax loopholes — are popular with the public.

But they have become more popular only in recent weeks. Americans now favor the law’s climate provisions by 19 points (49% to 30%); its tax provisions by 32 points (54% to 22%); and its prescription drug provisions by 50 points (64% to 14%). Overall, they favor the new law by 19 points (48% to 29%), with Democrats in favor by 73 points (80% to 7%) and independents in favor by 9 (41% to 32%).


As a result, while a majority of Democrats and Democratic-leaning independents (55%) said in early August that they would prefer to see “someone else” other than Biden as their presidential nominee in 2024, that number has fallen 6 points since then (to 49%); the number who say they would prefer Biden (32%) has increased by 5. A few weeks ago, 45% of Democrats — a plurality — said Biden is “not changing enough about America”; today a 42% plurality says he is changing America “by the right amount.”

The question now is whether Biden’s improving numbers can help Democrats avoid a blowout in 2022 — the fate that typically befalls a president’s party in midterm years.

In part that depends on forces over which the president exerts little control. Gasoline prices have been steadily declining for months, and Americans are very aware of this fact, with twice as many now saying the cost of gas is going down (48%) rather than up (24%). Likewise, the annual inflation rate slowed to 8.7% in July from 9.1% the month before.

Yet for now, just 15% of Americans say inflation is getting better rather than getting worse (51%). Given that far more Americans select inflation (32%) as the "the most important issue when thinking about this year's election" than anything else, much of what happens in November may hinge on whether prices continue to ease — or resume their precipitous ascent.

Another factor that could help keep Democrats afloat in November is enthusiasm. Typically the party that doesn’t control the presidency picks up seats in the midterms because their supporters are really motivated to vote against the president — and the president’s supporters aren’t particularly motivated to vote for more of the same. But experts say the end of Roe v. Wade and the rise of Republican candidates echoing Trump’s stolen election lie may be leveling the playing field. Why? Because they give Democrats a reason to turn out as well: to stop long-established rights from being taken away.

The Yahoo News/YouGov poll tested this theory in two ways. First, respondents were asked who has "changed America more" over the past year or two: "Democrats, who control the White House and Congress" or "Republicans, who control red states and the Supreme Court." Among Democrats, the results were evenly split — a striking testament to the perception that even though their own party holds power in Washington, D.C., the other party has been pushing its agenda just as forcefully through courts and statehouses.

The second test was a series of questions meant to gauge political passion and engagement by asking whether Americans are “angry,” “enthusiastic,” “satisfied” or “dissatisfied” with a series of recent developments. The two that elicited the most anger were “the U.S. Supreme Court overturning Roe v. Wade" (34%) and "efforts to overturn the 2020 election" (36%) — both top Democratic concerns. The corresponding Republican sticking points — “Joe Biden's response to inflation" and "the FBI searching Donald Trump's Mar-a-Lago home" — generated a smaller number of angry responses (30% and 24%, respectively).

Broken down by party, the results are nearly indistinguishable, with Democrats just as angry about the end of Roe v. Wade (56%) and efforts to overturn the 2020 election (59%) as Republicans are about the Mar-a-Lago search (55%) and Joe Biden’s response to inflation (58%). Asked to select “the biggest threat to the future of the United States” from a list of eight options, a big plurality of Democrats (37%) choose Donald Trump; 20% choose Republicans. Combined, the exact same number of Republicans pick either Joe Biden (26%) or Democrats (31%).

That’s not the usual midterm dynamic, and it may help explain why “the Democratic candidate” (45%) continues to lead “the Republican candidate” (39%) by 6 points when registered voters are asked who they would vote for in their district “if an election for U.S. Congress were being held today” — despite a national political climate that continues to favor Republicans and approval numbers for Biden that remain underwater, even as they show some signs of improvement.

https://www.yahoo.com/news/poll-bid...nds-to-highest-level-since-may-163225038.html

 

Only delusional despicables working overtime to spin propaganda would declare a 40% approval/53% disaproval rating for biden as good news. Or that gas prices dropping from $4.00 a gallon to $3.89 as "plummeting". Especially when they were $2.75 a gallon at the end of 2020.

But say, we can consider this bit;
Poll: Biden approval hits new low as more Americans say they would vote for Trump (yahoo.com)
The survey of 1,541 U.S. adults, which was conducted from June 10-13, found that if another presidential election were held today, more registered voters say they would cast ballots for Donald Trump (44%) than for Biden (42%) — even though the House Jan. 6 committee has spent the last week linking Trump to what it called a “seditious conspiracy” to overturn the 2020 election and laying the groundwork for possible criminal prosecution.

 

This family of 3 were flying Trump flags from their vehicle next to the Biden Bus when it drove through Texas during early election 2020, providing what mainstream media called the "Biden Bus Escort" and of which President Trump tweeted, "I LOVE TEXAS!" The civil lawsuit by staffers on the bus simply means the politicians suing are looking for financial compensation for being triggered by the family's exercise of Free Speech. Democrats claim the couple banded together with others on a public highway with the intention of suppressing minority voter rights. The plaintiffs also accuse the couple of premeditated assault, claiming they had a plan to run the bus off the road even though this never occurred. Filed under the KKK Law in federal court, this suit could have huge national implications and set legal precedence for how the left targets Trump supporters and Conservatives who simply exercise Free Speech in the future.

The Fight to Defend Free Speech: Our Story
As Americans witness the current Administration weaponizing the DOJ against their political opponents, and those who support said opponents, defending Free Speech is more important than ever. Robert and Joeylynn Mesaros truly understand what it takes to fight this fight, having personally suffered the political persecution and abuse of the progressive left's attempts at silencing political opposition.

Robert and Joeylynn Mesaros are your average blue-collar Americans; they are working hard to raise their 11-year-old son, Jude, with Christian conservative values. These high school sweethearts never would have imagined when they said, "I do", 15 years ago, that they would later go head-to-head with Biden-Harris Campaign staff, White House officials, and Democrat politicians to defend Free Speech for their family and yours.

The Mesaroses were recently catapulted into the fight to defend Free Speech as Biden-Harris campaign staffers and Democrat politicians filed a frivolous lawsuit against them in federal court under the Ku Klux Klan Law of 1871. The family of 3 were merely flying Trump flags from their vehicle next to the Biden Bus when it drove through Texas during early election 2020. You may remember the viral video of what mainstream media called the "Biden Bus Escort" when President Trump tweeted about it saying, "I LOVE TEXAS!"

The lawsuit came as quite a shock, especially since there are no criminal charges. This is a civil complaint, which in simple terms means the politicians suing Robert and Joeylynn are looking for financial compensation for being triggered by the family's exercise of Free Speech. The plaintiffs suing Robert and Joeylynn lie claiming the couple banded together on a public highway with the intention of suppressing minority voter rights. The plaintiffs also maliciously accuse the couple of premeditated assault, claiming they had a plan to run the bus off the road. These are complete fabrications, none of which ever occurred. Such outright lies filed under the KKK Law in the federal court system could have national implications and set a legal precedent for how the left targets Trump supporters and Conservatives who simply exercise Free Speech in the future.

The couple faces over $200,000 in legal defense fees alone as they have the burden of proving these are frivolous accusations. Robert and Joeylynn tapped into their son's college fund, set aside dreams of opening their own plumbing company, and cashed out their 401K, using the money to retain their attorney. They are fundraising to cover the remainder of extremely costly legal defense fees and need your help.

The Mesaroses have an optimistic attitude amidst the oppression as they believe God has called their family to boldly stand up in the face of tyranny to maintain our God-given freedoms for generations to come. They expect to ultimately see a victory for Americans' First Amendment rights.

Just like you, Robert and Joeylynn have a right to voice their political opinions, regardless of what party they choose. We cannot allow others to silence people who have a different opinion from them. Your financial support to win this precedent-setting legal battle is critical as Robert and Joeylynn hold the left accountable for weaponizing the judicial system against average Americans and in keeping Free Speech free for everyone.

https://freespeechdefender.com/

 

Here’s what’s inside Biden’s historic student debt forgiveness plan
“I’m keeping with my campaign promise, my administration is announcing a plan to give working and middle class families breathing room as they prepare to resume federal student loan payments in January 2023,” said President Joe Biden.
by Shirin Ali & Adam Barnes | Aug. 24, 2022



Story at a glance

• The White House announced an expansive plan to tackle the national student debt crisis on Wednesday.

• It includes loan forgiveness of $10,000 for federal borrowers who earn less than $125,000 annually.

• Pell Grant recipients are eligible for $20,000 in loan forgiveness, with the same $125,000 income cap.

President Biden is directing the Education Department to forgive $10,000 in federal student loan debt for nearly all U.S. borrowers, an unprecedented decision that will affect millions of borrowers with immediate financial relief.

The Biden administration formally announced its highly anticipated student debt forgiveness plan Wednesday, which will forgive $10,000 for every federal student loan borrower who earns less than $125,000 annually.

The administration is also cancelling up to $20,000 for those student borrowers who received Pell Grants, applying the same income cap.

“I’m keeping with my campaign promise, my administration is announcing a plan to give working and middle class families breathing room as they prepare to resume federal student loan payments in January 2023,” Biden said on social media.

Here’s what the plan includes.

$10,000 in debt forgiveness for all federal borrowers
Federal borrowers who earn less than $125,000 and did not receive a Pell Grant will be eligible to have $10,000 of their student loan balances forgiven. This will likely eliminate the balances of at least 15 million borrowers.

$20,000 debt reduction for Pell Grant recipients
Millions of borrowers who received Pell Grants during college and meet the administration’s income requirements will see 20,000 removed from their balances. Data shows around 7 million students receive Pell Grants each year.

Extends pandemic-related pause on student loan payments
The administration is also extending the federal moratorium on student loan payments for a sixth and final time. Payments will resume in January 2023, concluding the pause which has spanned more than two years and two administrations.

Overhauls income-driven repayment plans
The Education Department is proposing a new rule that would reduce future monthly payments for lower- and middle-income borrowers from 10 percent to 5 percent of discretionary income.

It would also raise the amount of income that’s considered nondiscretionary, therefore protected from repayment. The proposed rule is also tackling interest, so a borrower’s loan balance will not increase as long as they are making their required monthly payments.

The new rule would forgive loan balances after 10 years of payments, instead of the current 20 years under many income-driven repayment plans for borrowers with original loan balances of $12,000 or less.

If approved, the rule would apply to borrowers with undergraduate degree loans and graduate degree loans.

Eases loan forgiveness under Public Service Loan Forgiveness (PSLF) program
The Department is proposing a rule that would allow more payments to qualify for PSLF, including partial, lump sum and late payments and allowing certain kinds of deferments and forbearances.

Tackles college accountability

Nearly 2 million fewer students have enrolled in public school

• 
  Here’s how often you should exercise

• 
  Most people infected with omicron variant ‘didn’t know they had it,’ study finds

• 
  Dodge discontinuing gas-powered muscle cars

• 
  New algorithm can track mental health through skin

The department is proposing to reinstate and improve a rule to hold career programs accountable for leaving their graduates with unaffordable debt — like when DeVry University was found to have defrauded nearly 1,800 students after making widespread, substantial misrepresentations about its job placement rates.

The Department also said it intends to act against colleges that have contributed to the student debt crisis, including publishing an annual watch list of the programs with the worse debt levels in the country. This is in addition to requesting institutional improvement plans from colleges concerning debt outcomes that outline how the college intends to bring down debt levels.


https://thehill.com/changing-americ...idens-historic-student-debt-forgiveness-plan/

 

So lets see.

We've paid people not to work, in fact, made it worth more for them not to work than to work during the pandemic. And we saw what that did to the economy when they finally stopped using covid as a reason to kill the economy.
Then we paid people's child care, even if they weren't working.
Then we passed a pig bill to pay off political cronies under the guise of global cooling global warming climate change climate crisis climate shift.
And we've nearly doubled the IRS budget in the name of catching tax cheats.
Now we pay off all the student debt.
Meanwhile the nations debt continues to zoom, approaching $31 TRILLION and no plan to even stop it from growing, much less pay it off.

So, despicables, who is going to pay off our debt?