This week, Elizabeth Warren unveiled a plan to “cancel” billions of dollars worth of student loans without involving Congress. She believes a legal loophole may allow her to erase the debt with the stroke of her pen, no questions asked.
The most obvious problem with exploiting this loophole is that it probably doesn’t actually exist. The next most obvious problem is that this would represent a seismic expansion of executive power, which would be ironic given all of the concern among Democrats that Trump wants to be a dictator.
But there are two even larger and more fundamental issues with any plan to cancel student loans.
First, there is no such thing as “canceling” student loans. What various Democrat candidates have proposed are plans to transfer, not cancel, the outstanding debt of millions of college graduates. They wish to remove the burden of the loans from the people who agreed to the loans and have received their degrees in exchange for it, and place that burden on the shoulders of people who did not agree to the loan and did not receive anything in exchange for it. Student debt will still be paid; we would just be taking the funds from someone else’s pocket.
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13 comments:
Socialism at its finest
Every election cycle the Dems come out with a new freebie to get the vote. This will appeal to many students with large loans but remember nothing is free!
Yeah, right like she would actually do it. Remember no new taxes? They all lie.
The author is pretending the loans came from somewhere. Somebody’s deposit was loaned out to a student.
That is not the care. The loans (all Lians) were created from thin air. Literally.
The banks never had the money prior to the student signing the agreement to repay the loan. We create money now, when we sign the credit application.
The US Dollar is a completely fiat currency.
It has zero intrinsic value, since Aug 25, 1971.
The bankers are criminals.
All of them. It is a con-game, a confidence game. The US Dollar is worthless.
Its funny how broken promises are made when it comes to really helping the working class but never when it involves marxist scams such as this one.
Stop this marxist communist stanglehold on our education system. You only have to look at the curriculum, to see who influences johnnys little head. From the fed on down to wico county
Cut direct education funding and issue vouchers to us for distribution.
. The super wealthy will simply keep money out of country and cut losses.
Hey Pocahontas, I have a few bills I'd like to swing your way. Can you help me with this ?
Thank you
Now we know the loans are created from thin air
The dollar has no value
The bankers are criminals
Wow
Just Wow
August 25 1971 is pretty specific there, you know?
What the heck
Sounds crazy
I think I'm a gonna have a beer and think about this.
The millions who paid their way over the past decades will want compensation if this goes as I suspect it will.
Maybe Bernie or Liz or Pelosi or Oprah could foot the bill.
If the dollar is worthless then why am I able to use it to purchase goods and services? Maybe you should just give me all of your dollars...they’re worthless after all.
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