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Elizabeth Warren Says She Would Eliminate Student Debt On Day 1 Of Her Presidency


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Really Liz? How can anyone take this seriously? Will of the people (aka the legislature)? Who cares?

 

https://www.huffpost.com/entry/elizabeth-warren-student-debt_n_5e1d0001c5b6640ec3d994fc

 

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Sen. Elizabeth Warren (D-Mass.) has said that she would wipe out student loan debt for a vast majority of the nation’s borrowers. On Tuesday, she unveiled a plan to do it starting day one of her presidency. 

Warren’s plan posits that existing laws give the Department of Education broad, though currently neglected, power to cancel student loan debt through the Higher Education Act. The plan says Warren would immediately order her secretary of education to take advantage of these rules. 

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4 minutes ago, BatteryPowered said:

So...on day one she would cripple the lending/banking industry, probably leading to a massive bailout.

 

Brilliant.

Awwww.....what would those poor banks do?  :o  They might have to buy used Bentleys!  The horror!

 

Bail out the people, not the banks!

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32 minutes ago, superds77 said:

Really Liz? How can anyone take this seriously? Will of the people (aka the legislature)? Who cares?

 

https://www.huffpost.com/entry/elizabeth-warren-student-debt_n_5e1d0001c5b6640ec3d994fc

 

"

Sen. Elizabeth Warren (D-Mass.) has said that she would wipe out student loan debt for a vast majority of the nation’s borrowers. On Tuesday, she unveiled a plan to do it starting day one of her presidency. 

Warren’s plan posits that existing laws give the Department of Education broad, though currently neglected, power to cancel student loan debt through the Higher Education Act. The plan says Warren would immediately order her secretary of education to take advantage of these rules. 

"

We know this will never happen..

Obama promised to close Gitmo on day #1....

How did that go?

 

Warren will buy and bribe anyone to get their votes.

 

Tell us..

Do the people that paid their student debt get a refund?

Do doctors making $200k a year get forgiveness too?

 

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2 minutes ago, RollingRock said:

Awwww.....what would those poor banks do?  :o  They might have to buy used Bentleys!  The horror!

 

Bail out the people, not the banks!

 

Yet again you demonstrate you inability to think more than one step ahead.  Total student loan debt in the US is $1.47 TRILLION.  What do you think is going to happen to those institutions when they have to write off that debt?  The financial hit will be HUGE...many of the ones who survive the initial blow will quickly be unable to meet federal regulation minimums to stay open When they fold, the businesses that rely on them for LOC funding take a huge financial hit that will probably shut many of them down (significant hit to employment numbers).  It would also inflict a huge blow to all other types of lending as the surviving institutions cannot fall beneath balance sheet requirements.  That means hundreds of thousands of people can't get home mortgages...which impacts the home construction business.  Add that to the blow to small businesses and you could see a significant reduction in commercial construction...business won't want to expand in that climate.

 

 

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39 minutes ago, superds77 said:

Really Liz? How can anyone take this seriously?

 

So she is going to pass on other people's debts to other people.

 

I guess she never heard there is no thing as a free lunch.

 

17 minutes ago, RollingRock said:

Awwww.....what would those poor banks do? 

 

If you don't like banks making $$$... don't use them.

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