Posted on 04/24/2019 4:28:17 AM PDT by Kaslin
Presidential contender Elizabeth Warren's strategy is to win the Democratic nomination by promising the most free stuff. Monday, she upped the ante. She's offering a whopping $50,000 student loan forgiveness for nearly everyone who borrowed for college or graduate school. That's old-fashioned Tammany Hall-style bribery -- handing out dollars to buy votes.
Warren's proposal is designed to buy a lot of them. One in 6 American adults are saddled with college debt. It's bigger than credit card debt or auto loans. Magically erasing student debt is Warren's ploy to win over college students, adults in their 20s and 30s struggling with their loans and millions of parents left holding the bag.
Warren's giveaway will cost taxpayers $640 billion. It's a poke in the eye of every assembly line worker, waitress, truck driver and other taxpayer who never got to college because they went to work instead of going into debt. Why should they now have to pay someone else's college loans?
Sure, families swamped with college debts deserve sympathy. But Democrats aren't leveling with them or the public about what's causing this problem.
House Financial Services Chair Maxine Waters tries to pin the blame on the banking industry. When Waters had several banking CEOs appearing before her committee, including JPMorgan Chase's Jamie Dimon and Citigroup's Michael Corbat, she demanded their plan to fix the student loan crisis. After an embarrassing silence, they had to remind her that banks no longer make student loans. The Obama administration took over student lending entirely in 2010.
In Monday's announcement, Warren tried to vilify the federal government for "pushing families that can't afford to pay the outrageous costs of higher education towards taking out loans." There's a sliver of truth to that, because Uncle Sam makes loans to virtually all comers, regardless of their ability to repay the money. But Warren leaves out the biggest culprits, the colleges themselves.
Colleges hike their tuition every year because they can. The feds have been willing to increase loan amounts to match whatever colleges charge. The result? Every dollar loaned inflates tuition by another 60 cents, according to Federal Reserve research.
In this heartless scheme, students are mules, carrying dollars from Washington, D.C., to campuses nationwide. Never mind if they ever graduate or land jobs to pay back their loans.
The more money colleges rake in, the more extravagantly they spend. Federal loans help bankroll exorbitant salaries for college presidents. The University of Louisville's president takes in nearly $4.3 million, while Columbia University's president gets $3.9 million. Awash with money, colleges spend way more on nonteaching staff than on teachers. Six-figure salaries for diversity officers, admissions and financial aid managers and layers on layers of other administrators, all on the gravy train.
Yet these high-priced administrators can't manage to get students to graduate. A shocking 34% of public college students can't make it through a four-year program in six years. They fail, still saddled with loans to repay.
Warren wants taxpayers to forgive up to $50,000 in loans for anyone earning under $100,000 a year, with smaller loan forgiveness for higher earners. That's the wrong idea.
Looking ahead, it would be fairer to require colleges to refund a portion of the loan money to Uncle Sam when a student doesn't make it to graduation. Colleges need to have skin in the game so they'll try harder to get students through the course of study and into the working world.
But don't expect to hear that kind of idea from Warren, herself a college professor and member of the ivory tower establishment. Instead, she's proposing more freebies. She's offering free tuition in all public colleges and universities, partly paid for by federal tax dollars and partly by the states -- a huge unfunded mandate that will hit state taxpayers hard.
Finally, Warren warns that under her free college plan, all public institutions must admit students regardless of their immigration status or criminal record. Democrats are redefining themselves as the party of ex-cons, illegals and voters who want free stuff.
“What about A students that can not afford college, or their parents can not afford to send them to college. Shouldn’t they get some help?”
The word “education” doesn’t appear in the Constitution a single time.
I’m just saying.
L
And even if by some freak of nature she outlasted all the other democRATS and then beat Trump for the presidency, this free college and student loan forgiveness idea will go nowhere.
She would need support in both houses of Congress to agree. It would never pass.
And finally, there is no pot of gold that the US is sitting on that can be used to come up with the trillions that would be needed to fund this joke of a campaign promise.
All this is about is trying to get some traction for her campaign because she is not doing well in the polls.
"Hey, hey. Look at me. I will give you everything for free."
She committed a self-inflicted fatal wound by trying to convince people she was a high-cheekboned American Indian, when, in fact, she is nothing more than a 1/1024th liar and schemer to line her own pockets.
She will be one of the first democRATS to drop out of the race becasue no money will be flowing her way.
Don't be so sure here. If Faux-cahantas did manage to get to 270 next November, she's more than likely gonna bring along enough nut jobs in the down ballot elections to give her the votes to make it close. And, depending on how persuasive the longbeards like Occasionally Coherent can be, this piece of crap-tastic legislation could get pulled off. :(
Enough of the "iffa', coulda', woulda', shoulda' and then it might happen" thinking.
1/1024th Lizzie is going nowhere.
My comment was based on YOUR hallucination that Faux-cahantas could win in November, 2020. If the country is that screwed up that she actually wins, I'm guessing there are going to be a whole lot of Congressional and Senatorial races that could go to equally unqualified idiots who think Occasionally Coherent is mainstream.
I happened to read an article in this morning's bird-cage liner noting that the percentage of young voters went up significantly in the last election cycle. If this trend continues, the millenials who want everything for nothing could become an important voting block in 2020 and beyond.
Millenials may want all the free stuff and vote in enough numbers to elect a Warren or Sanders or some other "everything will be free if you vote for me" democRATic candidates, but they will still not get their free stuff.
These free-giveaway everything promises will go nowhere because, one, the country doesn't have the trillions it would require to fund it and two, there will not be enough "top 1%ers" to pay for it any of it.
If the millennials get their way and demand their free goods and services, the rich will flee and/or shelter their income and wealth.
They are being convinced by these Marxist democRATS that there is a golden goose who will make their lives work free and give them whatever they want for nothing.
There is not.
Couple of things here.....why should taxpayers who never went to college have to fund this? If some of that $640,000,000 (I think that was the figure)isn’t spent on protecting our border, that college degree might not help. How many of those graduates(assuming they DID graduate)are actually working in their chosen fields? What about Warren promising this to get elected got elected & then can’t deliver on her promise? Who in their right mind would vote for Fauxcahontas anyway?
There is always a way and if someone wants it bad enough they will find that way. If not why not find a trade or one of the many other avenues to success. The government is not the answer.
You mentioned that about every trade is screaming for technicians. Some of them might be screaming for a long time as they don’t pay that well. I was one for many years & learned the hard way. Still, if you can find the right job & get apprenticeship type training, it’s probably a better deal than college. I was in the automotive trade & saw a few young techs overdo it on tool purchases & ended up with a big bill & possibly repossession of their tools. That particular trade requires a lot of tools, but some went a bit out of control on it.
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