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Bernie Sanders to unveil plan to cancel
all $1.6 trillion of student loan debt

Original Article

Posted By: NorthernDog, 6/23/2019 11:46:23 PM

Sen. Bernie Sanders is set to stake out uncharted territory in the Democratic presidential primary, offering up a plan to completely eliminate the student loan debt of every American. On Monday, Sanders will submit legislation that cancels $1.6 trillion of student loan undergraduate and graduate debt for approximately 45 million people. His ambitious plan has no eligibility limitations and would be paid for with a new tax on Wall Street speculation. The proposal goes further than the plan already unveiled by his Democratic primary rival Sen. Elizabeth Warren. Warren's debt relief package was subject to income eligibility levels to determine

Comments:

How do you just cancel $1.6 trillion is unpaid bills? And how long before Crazy Old Joe jumps on board?

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Reply 1 - Posted by: valinva 6/23/2019 11:52:25 PM (No. 105180)
If this were to happen, all those who have paid off their student loans including parent plus loans will sue. I will be one of them.
23 people like this.

Reply 2 - Posted by: Kowgirl 6/24/2019 12:15:27 AM (No. 105182)
And just how does Bernie propose to separate the debt incurred for actual education expenses (tuition and books) versus debt that was rolled into the cheap student loans to cover rent, car payments, spring break, entertainment, smartphones, and Starbucks coffee?
10 people like this.

Reply 3 - Posted by: Northcross 6/24/2019 12:36:47 AM (No. 105187)
Along with his full-throated support for the Green New Deal, Sanders promises to destroy the American economy faster than Venezuela collapsed under Chavez and Maduro. It pains me to know that otherwise normal people are counted among his supporters. I think, "No one could be that stupid", but they are.
10 people like this.

Reply 4 - Posted by: DVC 6/24/2019 12:40:43 AM (No. 105189)
I KNEW that this was coming when The Zero pushed for moving the loans to the feds. Damned Communists.
13 people like this.

Reply 5 - Posted by: ColonialAmerican1623 6/24/2019 12:51:42 AM (No. 105192)
Bernie, somebody has to make the doughnuts. Everybody can't be a taker like you. I used to say Bo don't know math but looks like none of the Democrats can figure out where money comes from.
2 people like this.

Reply 6 - Posted by: IdahoJoe 6/24/2019 12:56:01 AM (No. 105193)
What about the people that paid without a loan. Where is this fair to them? I would sue under such circumstances. Also, if you make all past college tuition 'free', you have to make all future tuition 'free' also. I include the quotes because someone will have to pay. Nothing is truly free. Just like my taxes that support basic education are never truly paid off, my taxation to support 'free' college will never be paid off. I would much rather have a loan that could be paid off one day rather than be taxed every year forever.
9 people like this.

Reply 7 - Posted by: JediJerry 6/24/2019 1:05:59 AM (No. 105197)
Never going to happen but its fabulous voter candy. How about he use his own money and just pay off some student loans so he can have that feel good feeling on his own.
6 people like this.

Reply 8 - Posted by: PChristopher 6/24/2019 1:14:30 AM (No. 105204)
Cancelling debt is one of the first steps in destroying an economy....'bout what I'd expect from a Soviet stooge!
7 people like this.

Reply 9 - Posted by: Proud Texan 6/24/2019 1:24:53 AM (No. 105211)
I want reparations for having to pay for my own college. and I graduated in 1981. It's MY turn.
9 people like this.

Reply 10 - Posted by: A.I. 6/24/2019 2:11:07 AM (No. 105220)
How generous of Sanders. /sarc
2 people like this.

Reply 11 - Posted by: Jethro bo 6/24/2019 2:56:14 AM (No. 105228)
If one has a retirement plan, this is a tax on your retirement. So the retirements of millions of Americans will become less just to pay for snowflakes to have cost free college party time. Just another Democrat plan to make the lives of every man, woman and child in this country as miserable as possible.
5 people like this.

Reply 12 - Posted by: Upright2 6/24/2019 3:30:08 AM (No. 105231)
Confiscate the college/university endowment funds first.
12 people like this.

Reply 13 - Posted by: LadyChurchillUSA 6/24/2019 4:00:43 AM (No. 105233)
I am waiting for the next big promise to eliminate all mortgage loans. Why not? How about moving to all credit card debt? I say free food for all too and then free booze and free drugs, have I left anything out? It really will be just a little utopia with a real free for all. Now the real question is who would want to work to provide you with all this free stuff? Not one of these nitwits ever is asked or answers that question. Perhaps all those pointy headed profs will work for free. How about it? Any of them stepping forward? The education they are providing these days does seem to be worthless so maybe it should be free. The econ profs certainly should not be paid that is for sure when AOC is an example of an econ major from BU.
6 people like this.

Reply 14 - Posted by: Ratslayer 6/24/2019 7:15:22 AM (No. 105281)
Quite a nice bribery offer from Bernie Marx!
1 person likes this.

Reply 15 - Posted by: AltaD 6/24/2019 7:50:14 AM (No. 105305)
This commie wants to tax stock trades, bonds and derivatives to fund uni indoctrination for Generation Snowflake!? Oh, heck no.
1 person likes this.

Reply 16 - Posted by: anniebc 6/24/2019 8:01:31 AM (No. 105313)
Yep, me too, poster #1. It's time we start dragging foolish politicians out of power, and no longer wait to defeat them at the ballot box. They have gone way beyond their role, so dragging them out will reestablish the true role of politicians everywhere. These people make me sick with their pandering selves.
1 person likes this.

Reply 17 - Posted by: 3XALADY 6/24/2019 8:12:54 AM (No. 105319)
I've been waiting for this one and in fact, am very surprised Obola didn't do it on his way out the door.
1 person likes this.

Reply 18 - Posted by: udanja99 6/24/2019 8:51:24 AM (No. 105355)
The only way I would agree to this is if all college professors, TA’s, etc agree to fund it by teaching without pay.
2 people like this.

Reply 19 - Posted by: hammondb3 6/24/2019 8:58:20 AM (No. 105360)
Economics 101 works here on a different level as well... It used to be that a college education was not the norm. Back then, it was a notable achievement to be a college graduate. A 'free' college education will end up being like a high school diploma. Supply and demand seems to always ruin these dreams.
1 person likes this.

Reply 20 - Posted by: jacksin5 6/24/2019 9:01:23 AM (No. 105361)
So anyone who pays their debts is a sucker. How many loans will go into default this year as students decide to wait for Debt Forgiveness? What's next Credit Card Debt?
3 people like this.

Reply 21 - Posted by: raphaela 6/24/2019 9:29:03 AM (No. 105379)
Sure, go ahead and clear the debt but make the universities that sold those phony, useless degrees have to pay it out of their own pockets.
1 person likes this.

Reply 22 - Posted by: Krause 6/24/2019 9:34:02 AM (No. 105388)
Eliminating those loans means the taxpayers are losing that money. We are the government, that's our money. Do you think the people know that?.
2 people like this.

Reply 23 - Posted by: Chuzzles 6/24/2019 10:08:08 AM (No. 105420)
So Bernie is now going to yank the rug out from under millions of investors, many of whom are paying into pensions and who are retired? How does he explain that away? Remember when the democrat meme was that republicans were going to reduce our elderly seniors to eating pet food from a can because they couldn't afford actual food? Well seems to me, that is exactly what Bernie's plan is going to do if he puts that tax on all WS transactions. The brokers will simply up the churning to pay for it, and the retirees and paying into pensions will take a huge hit.
2 people like this.

Reply 24 - Posted by: JimBob 6/25/2019 3:51:36 PM (No. 106526)
Question for all L-Dotters: What program involving MONEY has the Federal Government NOT completely screwed up? Some of the ones that they HAVE screwed up off the top of my head: -Federal Budget (over $20 TRILLION in debt) -Social Security (scheduled to go broke in a few years) -Indian Trust -College Loans (now exceeds Credit Card debt) -Various 'Unfunded Mandates'..... on the order of $60 Trillion or so (If I recall correctly).... Comments? Chip in!
0 people like this.

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