Posted on 01/14/2020 9:36:55 AM PST by tcrlaf
Sen. Elizabeth Warren (D-Mass.) has already pledged that, if elected president, she would erase student-loan debt for the vast majority of the 45 million borrowers in America. On Tuesday, she went one step further, saying she would use executive authority to begin wiping out student debt on the first day of a Warren presidency.
She appears to be the first 2020 presidential candidate to have a day-one plan to use presidential executive authority on student-debt relief. In all, borrowers currently hold more than $1.5 trillion in student-loan debt in this country, a slow-motion crisis that economists say dampens home purchases, starting new businesses, saving for retirement, and even getting married.
Warrens new plan says the Department of Education has the authority to modify, compromise, waive, or release student loans under the nations flagship law for colleges and universities, the Higher Education Act. This authority, Warrens plan says, provides a safety valve for federal student loan programs, letting the Department of Education use its discretion to wipe away loans even when they do not meet the eligibility criteria for more specific cancellation programs.
(Excerpt) Read more at rollingstone.com ...
Her mouth just wrote a check her a*& can’t cash
How about government debt? Anybody for reducing that?
When the Democrats control the House, the House is the most powerful branch of government, and can do whatever it wants.
When the Democrats control the Presidency, the Executive Branch is the most powerful branch of government, and can do whatever it wants.
Yep, from you and me...the lenders!
Squaw Big Pander Rat wants to spend big wampum
Leave the tax payers alone.
Shades of Roman emperors buying off the mob.
Are we that close to nightfall?
Universities have already been paid. Its the lending institutions shareholders who are going to get robbed if the phoney Indian gets her way.
So, there’s a poor schmo that just got finished paying off $75k in student loan debt and now all outstanding loans are forgiven.
Is he/she gonna raise hell?? ‘What about Meeee??’
How is this going to work? Lenders aren’t going to magically write down all these loans? Remember how long it took lenders to write off non-performing mortgage loans? Years and years. They couldn’t afford to write them all off at once; otherwise they would all look insolvent.
So, the government (repeat with me now: ‘We’re here to help you’) will have to step in and guarantee/pay off some, if not all, of the debt. This will be a bailout on a high order.
And where will all this forgiveness come from, dear reader? Why, out of the pocket of you and me and every other responsible, law-abiding citizen, that’s who.
Free handouts are only free to the recipient.
Ok so she gets some of the college crowd, if they bother to vote. But just dumped those who may have wondered who will actually pay this passed-on debt.
It’s Elizabeth Warren, staring in PANDERPALOOZA, because by God, if you are soft minded and easily manipulated, she has a hand out for you...
If Democrats can’t earn your vote, then by God they will buy it!!!
Why would the re-elected President Trump invite her to the White House?
The people, that's who. Promise people something free and they check their brain at the door.
Plus, it's for the children.
But who is going to lend the money in the future? The government directly?
A lot these people owing this debt are going to consider there personal situation whole lot more important than whats right for the country.
Exactly.
Lots of questions. Where is she getting the funds to pay off the debt? The budget for the current fiscal year has already been approved. Waving a wand by executive Order means zippo. Can't re-purpose defense money. Therefore, in order to forgive debts on the first day, she needs to take money from civil programs. Now that should be interesting. If you think building the wall was hard... Fed courts are going to be very busy issuing injunctions.
It is illegal to pay a couple of your own bucks to buy votes. It is somehow noble, honorable and legal to spend billions of dollars stolen from other people.
Oh Lizzy, Lizzy, the economy is not really your forte and the farce about “student loans” is exposed.....anything else you want to talk about?
I have saved enough for my grandchildren’s college. If Warren is elected I can use it for something else.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.