Car Owners Fall Behind on Payments at Highest Rate on Record

Re:Car Owners Fall Behind on Payments at Highest Rate on Record by Salgat on Tuesday October 24, 2023 @11:42AM (#38000728)

Some of these bailouts make sense. In 2008 these "bailouts" were loans that were paid back in interest. The COVID stimulus was given to everyone below a certain income threshold, so it was effectively a progressive tax cut. The student loan relief is an attempt to fix predatory loans (although it's not a complete solution, it does help though), and while I paid back my loans fully, I don't wish those loans on anyone, especially not those without a high paying job. The PPP loans were very abused, and while they are prosecuting quite a few over it, most of that money is gone forever. The only answer I have for that is not to vote in the politicians who enabled it.

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Re:Car Owners Fall Behind on Payments at Highest Rate on Record by nickelbob on Tuesday October 24, 2023 @05:36PM (#38006010)

Sad that you're getting downvoted. OP's post is essentially "People who made different choices than me should be punished."

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Re:Car Owners Fall Behind on Payments at Highest Rate on Record by throwaway31338 on Wednesday October 25, 2023 @02:07PM (#38016064)

Don't want to "punish" anybody. Those bailouts are all over now. I'm just tired of coming out on the losing end and would like to make something from this crisis, versus just paying for it.

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Re:Car Owners Fall Behind on Payments at Highest Rate on Record by nickelbob on Thursday November 02, 2023 @12:53PM (#38116448)

How sure are you that you were on the losing end? What even is the "losing end" of a bailout?

Rising tides lift all boats. Do you know any people who worked on wall street? Then they were helped by a bailout. Do you know any people who worked with the people who worked on wall street? Then they were helped by a bailout. Etc....

Maybe there's a favorite restaurant of yours that stayed open throughout COVID because of PPP. Or there are people who you know who kept their jobs because of PPP.

Maybe there are favorite products of yours that have been created or will be created by people who were able to start companies after their student loans were forgiven.

My point is that these bailouts aren't only helping the people/companies that were directly impacted - we're all connected so it's rare that helping so many people doesn't indirectly affect you in some way.

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