Warren Wants Loan Amnesty
Willis Eschenbach observes:
Elizabeth Warren; Cancel Student Debt in Next Stimulus Package
That headline is a lie, and an example of successful propaganda.
There is no way to "cancel" such a debt. You can only shift the burden
somewhere else. In this case, she's proposing shifting it to the
taxpayer.
But of course, even Indian Lizzie knows that saying something like:
"TAXPAYERS SHOULD BE FORCED TO PAY FOR STUDENT LOAN SCOFFLAWS WHO
WASTED THEIR SCHOOL YEARS STUDYING THE STUNNING INSIGHTS OF LEFTHANDED
LITHUANIAN LESBIAN POETS"
... mmm, probably wouldn't sell all that well.
Here's my student loan program.
If you borrowed it, pay it back.
Why is this so hard to understand? It's what I and everyone I know has had to do if we borrowed money.
What's next? Is Fauxcahontas going to force taxpayers to pay mortgage loan scofflaws?
Finally, this is a CORONAVIRUS stimulus package. I fail to see the
connection with the students, other than through Lieawatha. I despise
this habit of sleazy politicians loading up important bills with sleazy
pork, and she's one of the worst.
Posted by: Timothy Birdnow at
10:36 AM
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1
How about this for a rule? A politician comes up with a scam like Lizzie did. She doesn't get elected. BAM... she has to enact her scam personally -- as in, she has to pay for those student loans herself. How? I have no friggin' idea, but ask her -- she wanted YOU and ME to pay for them, now it's on her. And don't let her off the hook.
Y'see, politicians are NEVER made to pay for their mistakes. That's one error of our system.
Posted by: Dana Mathewson at July 21, 2020 09:53 PM (tUvF0)
2
Well, actually the debt can be cancelled. The court (or lawmakers) can simply send a piece of paper to the holder of the loan saying that the loan will not be paid - that it no longer exists. Happens all the time in bankruptcies. And in reality nothing is lost. The money never existed in the first place. It was not real money, was never anything but a ledger entry, made when the loan was granted.
Posted by: Bill H at July 21, 2020 11:31 PM (vMiSr)
3
That was the folly of modern credit, Bill. It's "money" and not wealth.
Posted by: Timothy Birdnow at July 23, 2020 07:01 AM (/2j6O)
4
I agree Dana; there has to be accountability for wasting taxpayer money like that. Until government officials are held accountable (and not just at the ballot box but personally) we will never see an end to the usurpation of power and theft of private wealth.
Posted by: Timothy Birdnow at July 23, 2020 07:04 AM (/2j6O)
5
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