Elizabeth Warren says her plan to eliminate student loan debt can bypass Congress

CNBC.com ^ | 2/14/2020 | Tucker Higgins & Annie Nova

[mykroar]

Presidential contender Sen. Elizabeth Warren said on Tuesday that she would begin to forgive student loan debt on the first day of her administration, using legal tools that would allow her to bypass Congress.

The announcement, which comes just weeks before voting begins in the first primary and caucus states, adds urgency to legislation she introduced over the summer to cancel the bulk of the nation’s outstanding student loan debt.

That bill, introduced with Rep. James Clyburn, D-S.C., would forgive up to $50,000 in student debt for individuals with household incomes under $100,000. But Warren wrote in her plan on Tuesday that the U.S. Education Department already has authority to cancel student debt, “and we can’t afford to wait for Congress to act.”

“I will start to use existing laws on day one of my presidency to implement my student loan debt cancellation plan that offers relief to 42 million Americans — in addition to using all available tools to address racial disparities in higher education, crack down on for-profit institutions, and eliminate predatory lending,” she wrote in the plan."

[mykroar]

“I will start to use existing laws on day one of my presidency to implement my student loan debt cancellation plan that offers relief to 42 million Americans — in addition to using all available tools to address racial disparities in higher education, crack down on for-profit institutions, and eliminate predatory lending,” she wrote in the plan."

Rainbows and Skittles for all.

[Levy78]

Good thing grey beaver will never be president.

[Diogenesis]

grey beaver OWES reparations to Native Americans
for here theft. repeated theft encouraged
by Law Schools (for THEIR benefit).

[SMARTY]

Rainbows and Skittles for all. It’s an old concept-it’s called ‘THEFT’.

[A_Former_Democrat]

Dishonest, fraudulent, racist, sexist, tyrannical and stupid beyond description

[HighSierra5]

You’re wrong. She will be president of the local dingbat association.

[MNJohnnie]

So what Warren’s spending plans up to now? $70 trillion?

[Kickass Conservative]

If I had a Time Machine and the power to do so, I would have made Student Loans Illegal.

A byproduct of this of course would eliminate For Profit Liberal Indoctrination Centers, AKA Elitist Institutional Universities.

[Cowboy Bob]

How about forgiving $1,000 in student debt for each illegal turned in to ICE. It’s a win-win opportunity.

[PGR88]

So millions of Americans have a collective $1.5 Trillion in student debt, most of it guaranteed by Fed.gov, which itself is in debt for $22 Trillion (not counting any future promises also)

Now we have a socialist candidate saying that as President, she can just eliminate that debt with the stroke of a pen.

These are the perverse fruits of the Federal Reserve and our printed, fiat currency.

[goldstategop]

Why stop with student loans? Why not general debt forgiveness? We should all start with a clean slate.

What makes students special?

[BBQToadRibs]

Do I get reimbursed for the student loan debt I paid off in full?

[Zathras]

All spending starts in the House.
Separation of Powers.

[BwanaNdege]

Bribery may just buy her the Presidency, right?

/S

[Political Junkie Too]

What kind of Constitutional scheme allows Congress to loan taxpayer money and then let's the President allow the loanee to keep it?

That's just plunder of the treasury.

-PJ

[Starstruck]

Sounds like high crimes and misdemeanors.

[dhs12345]

Is this plan retroactive? If it is, for those of us who scrimped and saved and paid our own way... I am expecting the feds to write me, and all people like me, a check for $120K.

[goldstategop]

This is vote buying of a Democrat constituency. Nothing more nothing less.

With OPM.

[Rurudyne]

Cut all federal funding, end loan guarantees, require repayment of student loans (no bankruptcies for student loans).

People getting “educations” in especially what amount to hobbies should only pay with their cash on hand, / pay as they go. Or get a scholarship from a private source.

[Wuli]

Warren is a wannabee dictator.

All anyone need do is look at her brainchild, the Consumer Financial Protection Bureau which she got lumped into an omnibus bill in the first Obama administration. She had hoped she would be appointed by Obama to head that brainchild of hers.

And how is the Consumer Financial Protection Bureau set up (as she designed it)??

1. It is accountable to no one.

2. It is not dependent on Congress or the President for its funds; it merely draws what it self-determines for its budget from the federal reserve.

3. Its mission is unlimited by design, as to what it’s area of financial oversight actually is.

4. Its first act was to tell every possible financial related enterprise that they must turn over copies of all financial transactions executed by or passing through their enterprise and continue to do so on a regular basis. Compiling a financial database encompassing anything handling money anywhere in the U.S. economy - just so it can go fishing in it however it wants, presuming guilt is there, everywhere; it just must be fished out.

5. It makes its own table of organization, and other than the appointed head again answers to no one as to who and how many jobs it has, or why.

In terms of true “independence” it is supreme in Washington D.C., a veritable legalized dictatorship.

The only restraint possible is a new law that revokes the law that created it. Conservatives need to demand from the GOP just why that did not happen in the two years they held the majority in the House & the Senate - 2017 & 2018.