More Student Loan Give-A-Ways

Chris breaks down the latest $4.28 billion in student loan forgiveness for public service workers, including teachers and law enforcement officials. Highlighting the disconnect between higher education costs and career choices, he challenges the fairness of taxpayers shouldering the burden of others’ debts. Markowski emphasizes the importance of personal responsibility, return on investment in education, and the broader implications of government spending. www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it will have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
No, Biden's giving away more cash. Well, Obamas giving away
more cash. Here's the headline. Biden continues to student loan
gravy train on his way out the door. They announced
that there're another four point two eight billion dollars of
student debt relief to fifty five thousand public service workers,

(00:43):
including teachers, nurses, and law enforcement officials. From day one,
my administration and I promise to make sure that higher
education is a ticket to the middle class, not a
barrier to opportunity. Uh huh. Because of our actions, millions
of people now have breathing room to start a business,
say for retirement, and pursue life plans they had to

(01:06):
put on hold because of the burden of student loan debt.
Wait a second, here, these are all government you said,
these are government workers. You're giving these loan things. To
correct me if I'm wrong. Don't they all have government pensions? Yeah?
I think they all have I think they all have
government pensions. If I'm not mistaken, Listen, I'm tired that

(01:30):
they pull this crap all the time. If you're working
for a nonprofit or your public servant. Why why because
you decide to go into that rena. I get a
kick out of this thing. Teachers teachers, Okay, you decide

(01:52):
to be a school teacher? Side to be a school teacher? Okay,
you know going in, you know, going in again, my
father was a school teachers. You know what it costs.
You know, you know what you're going to get paid
as a school teacher. Correct, you kind of know that
going in now. My father had a second business, had

(02:12):
other things that he had going on. But again, you're
gonna top out there. So if you decide you want
to be a school teacher, might you choose a direction
where you're not going to spend an exorbitant amount of
money on your education? I laughed. I remember saying I

(02:33):
remember this when I was in college. Okay, I was
aware when I was at Syracuse University private school, they
have a school of education. Well, what is the uh,
what's the going rate at Syracuse now? It's like ninety
thousand dollars a year? Why Why would you Why would
you go to Syracuse University and get a degree in education?

(02:58):
Done may and he said, you have the money, you
don't give it. Dam If you're not looking for that
return on investment like you should, why would you do that?
It doesn't make any sense. Again, this is the Biden

(03:20):
administration that is again handing away our money. Now I
mentioned we talked about it. It was yesterday day before
Elizabeth Warren in her new bankruptcy bill, which is actually
a cherry on top with all of this, the government
took over the student loan business, basically taking tax dollars

(03:43):
and lending our tax dollars out to children. Now they
want to say you can discharge that in bankruptcy court.
It's either that or Biden's going to try to give
the money away. I'm still trying to get my arms
around this. What are we up to now? One point

(04:04):
four one point five trillion dollars in student loan debt outstanding?
This is it again. It's it's stupid. I've explained this here.
We've talked at length about the cost of higher education.
Why would you allow your child your child, Let's say
your child doesn't know what he or she wants to

(04:26):
do for a living, and you're going to allow your child,
not knowing what they want to do, to go into
debt six figures. So when they're twenty one years old,
rather than hitting the ground running, they're going to hit
the ground trying to run with a massive ball and

(04:47):
chain attached to their leg. You have to do things.
Is a right way and there's a wrong way of
doing things. And you must look at return on investment again.
Why all these kids I can't can't get out from
underneath my student loans, Well, you took them out. Not

(05:08):
every school in the country is you know, ninety thousand
dollars plus. If you have to go maybe little by
little and go part time, you do that so you
can work along the way. You know, I understand taking
a couple steps backwards and take many steps forward, but

(05:29):
you're doing it wrong. You're burying yourself for what. It
doesn't make any sense, Nor does it make any sense
that the taxpayers, many of us that took out student
loans that we could afford paid them back, worked our
way through school, now have the burden of paying for

(05:52):
not just our own kids education, but for other kids education.
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