Small business group files suit over Biden student loan plan

[Omaha Steve]

Source: AP

By JILL COLVIN

WASHINGTON (AP) — A small-business advocacy group has filed a new lawsuit seeking to block the Biden administration’s efforts to forgive student loan debt for tens of millions of Americans — the latest legal challenge to the program.

The suit, filed Monday by the Job Creators Network Foundation, argues the Biden administration violated federal procedures by failing to seek public input on the program. It’s one of a handful of suits that have been filed by conservative business groups, attorneys and Republican lawmakers in recent weeks as the Biden administration tries to push forward with its plan to cancel billions in debt before November’s midterm elections.

Elaine Parker, president of Job Creators Network Foundation, slammed the program as executive overreach and complained that it does nothing to address the root cause of rising debt: the “outrageous increase in college tuition that outpaces inflation every single year.”

“This bailout is going to affect everyone in this country because of the mass size of the program,” she said. “And everyone should have the opportunity to provide their views to the government.” She added: “These universities need to be held accountable for this student debt crisis.”



FILE - President Joe Biden speaks about student loan debt forgiveness in the Roosevelt Room of the White House, Aug. 24, 2022, in Washington. The Congressional Budget Office estimates that President Joe Biden’s plan for student debt cancellation will cost about $400 billion over the next 30 years. The estimates were issued Monday in response to a request from Republican lawmakers who oppose Biden’s plan because of its cost. (AP Photo/Evan Vucci, File)


Read more: https://apnews.com/article/business-education-lawsuits-personal-taxes-small-948e5c9ee802bc865f66c2ab28328035

[PSPS]

1. LOL. "Job creators." Elaine Parker is a full MAGA.

[bucolic_frolic]

2. Oh, yes, allow the Business Gods to weigh in: Job Creators Network Foundation

What have they done except promote their own agenda? Surely not a philanthropic cabal

[50 Shades Of Blue]

3. And student loan forgiveness injures this group... how, exactly?!

[Lonestarblue]

7. That is my question. They have suffered no harm, how do they have standing?

[PatSeg]

8. It would seem to me

that loan forgiveness on such a large scale would benefit most small businesses. It would put more money into the economy, while helping people get out of debt. Seems like a win-win to me.

[IthinkThereforeIAM]

14. Exactly...

... having those payments and any FICO score downgrades because of loans owed, would open the doors for more purchases, ie... major purchases such as car purchases, EV or not.

How can the economic dynamics be totally ignored by these, "business men/women"?

[PatSeg]

22. Yes, seems it undermines their own financial success

Their attitude is rather mindboggling. Politics run amuck again it seems.

[LT Barclay]

26. Unless they're afraid that it will stop folks from scrambling for any low paying job they can find,

Last edited Mon Oct 10, 2022, 11:45 PM - Edit history (1)

or maybe 2 or 3 jobs?
I used my GI Bill to get a degree in what I thought would be a good career in Physical Therapy. Not lawyer or even fast food manager level, but enough to support my family.
Now with what insurance companies are doing to healthcare, I'm wishing I'd done something else.

[PatSeg]

28. It is such a shame that

people have to make career choices based on health insurance. I don't envy young people these days. There is little or no long term security in most occupations. It must be very stressful.

[Javaman]

15. it would be one less thing for them to complain about Biden LOL nt

so now they have created a new way to complain about Biden. LOL

[OnlinePoker]

20. Lowers the number of people willing to work second jobs for minimum wages to pay loans.

You have to keep the peons beholden to the generosity of their business owner overlords.

[Aviation Pro]

4. Fine, all of these motherfuckers have to pay back their PPP loans

And we're raising the vig to 50%.

[William Seger]

5. The real "job creators" are consumers with money to spend

No matter how rich the fat cats get, they DON'T create jobs unless they can sell their products and services to consumers who can afford them. This is the fundamental idiocy of the "trickle-down economics" scam.

[Turbineguy]

6. Sounds very republican

harm millions to benefit a few.

Zero sum.

[HillbillyDaoist]

9. Sounds like a MAGA fronted group

These fuckers are okay with the government bailing out basically every financial institution and corporation but when it comes to the average American who, like me, is saddled with enormous debt because they thought an advanced degree would help their future, then they get their fucking panties in a wad. FUCK THEM ALL and a pox on on their goddamn children.

[oldsoftie]

10. But that last sentence is right; when are these colleges going to be asked about tuition?

Tuition rises faster than just about any other metric. Even MEDICAL costs. Charging students huge amounts of money for degrees that too many will find useless. When will THEY be brought before Congress and asked to explain where all that money goes?
Not to mention all the wasted time & money on unesscesary courses

[MichMan]

19. You haven't seen anything yet.

Now that payments on future loans are capped at 5% of discretionary income, tuition is going to skyrocket. Students are going to owe the same amount in payments regardless of how much they borrow. Anyone with a brain will borrow the max amount possible.

Colleges will figure out that and raise tuitions accordingly, thus sticking it to the taxpayers.

[oldsoftie]

24. Exactly. When some advantage is given, someone is right there to absorb it..

Pretty much making it MEANINGLESS.

[Genki Hikari]

29. And who determines what degrees are "useless?"

Or what courses are "unnecessary?"

You know what courses are unnecessary in college, because so many of the people taking them are the stupidest people on campus?

Business courses. Why are colleges wasting resources teaching vocational school material like that? Ship all that off to a vocational schools, and let college get back to focusing on real subjects that teach people how to think, rather than merely how to be mindless automatons to corporate power.

Also: Send the sports programs to the vocational schools, and replace them with personal fitness programs. The college and the students would only benefit from that.

[Genki Hikari]

30. And, by the way, ever see the studies on Bachelor degree pay

10 years after graduation?

Guess which major is making the most money at that point?

Go ahead. Guess.

.
.
.
.

Philosophy majors.

Yeah, the first few years are lean, but the ladder up is steep. This is because they have the skills employers actually need: The ability to do complex thinking and to communicate well. Few have to do those things as well as a philosophy major.

Most majors, even art history majors, wind up with good jobs, eventually. They may not be working in the direct field of their major, but they're probably working somewhere, and doing fine.

My stepsister, with her "useless" Spanish degree + 10 years of backpacking through Central and South America?

In the 90s, she landed a six-figure job with an international law firm. She had everything they needed in helping the lawyers craft rock-solid contracts: thorough knowledge of dialects and customs that she picked up while "wasting" time in Latin America living and working with locals as a "mere" bartender or waitress to fund her travels.

She was making a hell of a lot more money than the vast majority of those who scoffed at such "useless" degrees and how she was "wasting" time on "useless" lifestyle choices.

[Yo_Mama_Been_Loggin]

11. Job Creators Network Foundation

That's an Astroturf name if I ever heard one. People go into business to make money not to create jobs.

[NJCher]

18. that's what I thought, too

When the name is constructed for PR over any practical objective, it stands out like a sore thumb.

So I went to their web site and confirmed my suspicions of astro-turf. Their "partners" are chambers of commerce, the "American Chemical Council," whatever that is, etc.

It appears to be an all-purpose front to criticize Democratic policies and possibly scam donations.

There might be one other purpose, though. In their objectives section, they say it's to

"Involve employees in the fight to defend free enterprise.
Inform employees how government policies impact America’s jobs.
Inspire employees to become more informed citizens."

When I worked in corporate America as a webmaster, I would occasionally get requests to put up material favorable to republicans. It was almost always a scare about how some Democratic proposal would cause them to lose their job. Maybe now the RNC has organized a central platform to disseminate this info to employers to scare employees.

(just an aside--their request always got "eaten" by the staging platform and never made it to the intranet). Heh.

[enki23]

12. We need find some groups to sue the government over the PPP loans.

.

[pnwmom]

13. What is their standing to file this lawsuit?

The last group to file a lawsuit like this got it tossed out for not having standing.

[Orrex]

16. Each and every member of that group should go fuck themselves

And then they should go fuck each other. And then they should go fuck themselves again.

[ratchiweenie]

17. It's good to give millions to bankers but it's "too far" to bail out students. The QOP has such

sick values.

[lonely bird]

21. "Small business" my ass

https://en.wikipedia.org/wiki/Job_Creators_Network

Fuck these people with a rusty rasp.

[littlemissmartypants]

23. Going to affect a lot of people...

Yep and in a good way. But they don't seem to be able to stand or stand for anything good.

Quelle surprise!

❤️ pants

[Mysterian]

25. Reich-wing nazi propaganda group

"Job Creators Network Foundation"

The writer who describes it as a "small-business advocacy group" is spouting nonsense. It's a reich-wing group with ties to Newt Gingrich.

[Strelnikov_]

27. Gee, they seem like a bona-fide grass roots organization. No astroturf there n/t