Originally published at: https://boingboing.net/2024/02/22/the-new-york-times-reminds-you-not-to-trust-their-reporting.html
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Christ, what assholes
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The NYT cares more about its most desired audience, many members of which are bankers and multi-millionaire or institutional investors. They do not want the idea promoted that debt jubilees are popular.
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@mspie500 posted the breakdown…
“beleaguered” came and went, then later “amid high expectations” got added as they narrowed in on their message i guess.
i think “despite republican opposition” would have been a better sentence ender.
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The grey lady has fallen, indeed!
The fact that the story here is whether or not this progressive, life-changing action has garnered praise instead of the story being about the progressive, life-changing action itself is effing ridiculous.
Smdh.
If it weren’t for Wil Shortz, I would have no business with NYT at all.
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Fixed it for ya.
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They seem to be more focused on building a market for their Games right now than their journalistic integrity.
https://www.axios.com/2024/01/29/wordle-nyt-games-news-media-layoffs
ETA: Full disclosure: I am a daily NYT crossword puzzle solver, and I occasionally play their other games. I don’t have a problem with their games. I think they’re mostly pretty well done. I just wish they’d put as much care into their journalistic integrity.
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I haven’t trusted them since their Iraq invasion cheerleading.
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Shame that the Times has gone so downhill that they are trying to build reader base by buying games a’la wordle/spelling bee instead of improving their severely declining journalistic and professional standards.
The only difference between the post and the times these days as far as i can tell is the post has bigger letters and more colors.
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They’ve also got Eric Kim.
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As much as 0.06% of all student debt, affecting up to 0.3% of all people who have student debt. Perhaps that’s why Biden’s piecemeal efforts have garnered him little praise.
Specifically, it applies to people who borrowed less than $12,000 through one specific loan program (SAVE) and have been making monthly repayments for at least ten years.
The math also seems a little wonky. The White House estimates 150,000 people may qualify. $1.2b would work out to $8,000 per person eligible. The idea that people who borrowed less than $12,000 and have been making monthly payments for ten years still owe $8,000 on average probably merits a little discussion too. Like for instance “What kind of unspeakable evil exactly is this SAVE program in which ten years of payments reduces the principle by less than a 1/3?”
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“It makes a difference to this one.”
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IDK the structure of the SAVE program, but one example of this would be “a fixed rate 5% 30 year $12k loan.” Under those terms (which would be pretty normal for a mortgage, if long for student loans) it’d take 15 years to pay off a third of the principle.
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This is only one of the ways the Biden administration has moved to reduce student debt. Other fixes, like to PSLF program, have done a huge amount as well.
Getting that loan forgiven, even 8k, is going to be life changing for a lot of people. Life changing.
The Biden administration also redid the repayment structures, so people have to pay less of their monthly earnings to the loan.
They are going to make it (have already done so?) so any interest on a income driven repayment plan that isn’t paid in full by the monthly payment goes away. Which is huge. That’s how so many smaller debts ballooned into larger and larger ones, even though people were in the income based repayment plans.
Recertification of income was a hassle and a way many borrowers ended up in trouble. They missed the deadlines and the paperwork was nightmarish. Now borrowers can give permission and the IRS will automatically send their income info each year.
The Biden administration has also kicked the DOE’s borrower complaint division into high gear. They ended the relationship with FedLoan, which was one of the worst loan management companies. Which put the others on notice that the DOE is paying attention and the tactics to prevent timely repayment aren’t going to be permitted any more.
Anecdotes are not evidence but the efforts by the DOE under Biden to fix student loans have changed the lives of multiple people I know and myself.
The entire package of changes by the DOE deserves much better press. It is making the lives better, fixing injustices in how loans were previously administered, and fixing things for future borrowers too.
Edit: oops, forgot the link for an article that breaks everything down. Psst: Joe Biden Has Solved the Student Debt Crisis | Washington Monthly
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Why aren’t the GOP and SCOTUS also responsible for that failure to wipe out all debt? Are yo under the impression that the president is a dictator who can just decree stuff and it happens? Because that’s not how it works.
The administration is figuring out ways they can move forward legally in the constraints they are under. I don’t understand why you believe he be able to wave his hand and wipe out all student debt?
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Biden’s opponent, who openly aspires to that status, wouldn’t have student debt relief of any degree on his list of priorities.
But, hey, Biden isn’t a true progressive, so let’s let the other guy get into office. /s
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Thing is, I get people being pissed off about us continuing to sell arms to Israel. It fucking sucks. But Trump is going to support a greater Israel project, which will mean the full on ethnic cleansing of Gaza AND the West Bank. It will be an even larger bloodbath, for sure.
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I get very frustrated with those who plan to not vote, or vote for a spoiler, because they feel Biden is too pro-Israel. At this point the only result one is making more likely if one takes any action other than voting for Biden is a Trump presidency — which would be far, far more unconditional in support of Netanyahu & his ilk doing their absolute worst. We might not like it, and we might acknowledge that he’s nowhere near where we’d like him to be, but the political reality in the US right now is that Biden is the best option for peace and for the Palestinians.
And yes, sniping at Biden as if his current student loan efforts aren’t constrained by Supreme Court shenanigans is similarly dumb. His opponent would be happy to kick student loan borrowers to the curb if it made his banker friends happy.
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I found Leeja Miller’s video on third parties helpful for thinking about this:
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