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 Student Loan 'Forgiveness'?
Chilzany 151 posts, incept 2021-09-16
2022-04-30 18:30:16

@Starrynight,

I kinda like your idea, but my mind typically goes to the what-ifs before I jump fully on board. The what-if that comes to mind for your proposal, is the ones benefitting from current state budget, if they saw their elected politician(s)/ state/county/city employees personally benefitting bigtime from budget cuts, would see that as corruption, hand in taxpayer pockets.

And if the budget cuts resulted in employees suddenly without jobs, but the decisionmakers personally benefitting financially from job loss among colleagues/underlings, I can just imagine some of the job losers/others not doing so well in private sector going hunting with nearest available tool capable of rectifying their sense of "fairness".

It'd be a sell job heavy lift on the part of budgetary decisionmakers to persuade people on the short end comparatively speaking, truly see the longrun benefits to their own short pockets and in the interim help develop an interim survival path for them to follow, before those people would even begin to accept shortrun huge benefits going into decisionmakers' pockets vs their own smaller pockets.

The interim survival path could be something like a job retraining program that would actually address true trade/technical skills in short supply at state or county level. I saw that happen in the 80s, early-mid 90s when the timber industry was in major decline in this part of the country. It seemed to help at least some people.

Plenty of advance notice, like a year or 2 (state bienniums for example) would be a huge help for transition, so people can mentally prepare and perhaps financially prepare for major changes coming that would affect them directly or indirectly.

I lived through such an experience years back-2 year advance notice. It created the motivation and acquisition of financial knowledge sufficient for me to hurry up and pay off my house early so I could afford to take a lower paying job if necessary and stay in the area if push came to shove, since I couldn't afford to relocate anywhere I'd want to for same quality of life and cost of living at the time (back when the pre-08 housing market was screaming ever higher).

In the end, the employer's budget crisis resolved itself while I was still selectively job hunting during the timeframe I was given to prepare, but by the time the projected job loss date arrived, I had a paid off house and had choices regardless.

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