Bernie Proposes Cancelling ALL $1.6 Trillion In Student Loan Debt

Bernie Proposes Cancelling ALL $1.6 Trillion In Student Loan Debt

so Bernie Sanders unveiled a plan to eliminate all college debt now this is interesting for a number of reasons Elizabeth Warren released a somewhat similar plan maybe a month or so ago and you know people were fawning over that plan rightfully so because it's good but Bernie decided I'm gonna one-up her and that's what he did so let me give you some of the specifics this is from Vox they say senator Bernie Sanders proposal to make college free in the United States just got bigger he wants to erase all student debt to all one point six trillion of it the Vermont senator will unveil the most ambitious higher education plan in the Democratic 2020 presidential primary so far on Monday it's today the proposal would make two and four-year public and tribal colleges and universities tuition-free and debt-free and erase the roughly 1.6 trillion dollars in student loan debt currently owed in the u.s. paid for by attacks on Wall Street currently about 45 million Americans have student loans this would cancel debt for all of them regardless of their income or assets that's a notable difference from senator Elizabeth Warren's free college proposal which also provides broad debt relief but caps it for households with incomes over two hundred and fifty thousand dollars Sanders is proposing funding streams to states tribes and historically black colleges and universities to allow them to eliminate undergraduate tuition and fees the bill would also increase spending on work-study programs and build up federal grant programs for low-income students for additional costs related to getting an education from housing and transportation to buying books that's awesome now they go on to say the following the proposal would cost two point two trillion dollars over ten years which Sanders says would be paid for with his wall street tax Sanders proposed a Wall Street speculation tax in 2016 which would raise small levees on buying and selling stocks bonds and derivatives it's a proposal that many experts estimate could raise hundreds of billions of dollars annually Sanders office cited progressive economist Robert pollens projection that the tax would bring in two point four trillion in revenues over ten years so that's for when they inevitably throw at you and throw at him hey go pay for it hey go pay for when they say that you you say okay Wall Street Wall Street transaction tax done raises enough money we're good money let's move on so there is an answer I just want everybody to know that now stop and think do they ever say that when it came to for example the multi trillion dollar tax cut that the Republicans and Donald Trump just gave to corporations and the rich did anybody say how are we gonna pay for it is anybody screaming now you know how are we gonna pay for our eight interventions that we're currently doing we're on the brink of war with Iran has anybody said well hold on now not only did they not attack us but how are you pay for this they never say that when it comes to stuff that they view as moral necessities now the things that they view as moral necessities are not moral necessities but it just goes to show you that the deficit scolds it's more of a trick it's more of a tactic than a genuinely held belief but notice they always trot that out when it's a program for regular people in other words they try to say we can't do it because what we can do we can't pay for it but they never say it for you know the things that are immoral and the things that are kind of baked into the cake of empire already so this article from Vox I'm gonna leave it in the video too Crypton box and you can take a look they go into insane amounts of detail I think that what Bernie and his team did is they anticipated all of the stupid you know counter arguments and they have an answer for everything and I love that because I don't know if you guys remember in 2016 he proposed you know a free college bill this goes further this also eliminates all student loan debt but like some of the responses were oh it's racist plant what the why is it racist and they said well you know a lot of the historically black colleges and universities they're private and when you talk about free public college or what about the historically black colleges and universities you're leaving them out I guess that means you're racist I'm not kidding these are actual arguments that were made by people another point that they make is to try to stop the debt forgiveness oh but what about the people who already paid this isn't fair to them I love Ken clippings teen took to Twitter yesterday and he said retweet this if you know you've paid off your student loan debt but you'd still want free college for everybody from here on out and debt forgiveness for the people who still have college debt and of course everybody was like yeah go for it I'm not like offended I'm not pissed off this is wonderful this is what we should do this is what should have been the case for a long long time so see this is this is the bread and butter stuff guys this is the stuff that wins elections this is left economic populism that's what this is and basically what Bernie's trying to do and you all know this is he's trying to say let's create a society where the bare minimums are taken care of because that's what virtually every other modern civilization has done so you're we're gonna take certain things off the table and then after you have those things off the table we have what's viewed as more of a fair race and then you can go ahead and race and I am a big proponent of that idea and this is exactly what Bernie's plan does here I mean it really is a giant scandal that we have people in their 50s and their 60s still paying off student loan debt in order to try to get ahead in life you have to dig yourself into a giant hole I mean it's sort of a weird version of like indentured servitude in a way it's like oh you want to make it okay well first get massively in debt and then maybe maybe not make it cuz there are no guarantees and you know take a shitty job that you don't want to take but you need it because you're gonna use that to help pay off the debt that you got into just because you wanted to further yourself and and you know better yourself and create a career it's a really backwards system the incentives are all up I mean could you really blame somebody if they said well I don't I don't even really want to go to college because I gotta go massively in the hole to do that it's kind of a reasonable reaction so what if we did what other developed countries have done and we said college is gonna be free and there's you know a process there's steps you know this isn't like you know you wave a magic wand and everything's taken care of no there-there are steps but what if we did that and what if we said hey eliminate the 1.6 trillion dollars in student loan debt that's what's called a debt Jubilee you have any idea the the economic upsides of this I mean this really is going to be a shot of adrenaline into the ass of the economy because you have a lot of people who are kind of held back because of that debt and maybe they can't lease a car or maybe they can't you know put a down payment on a house you know maybe they're stuck living in their their parents basement they're in so many ways the millennial generation specifically they are kind of shackled to their student loan debt and it's kind of like a failure to launch situation but through no fault of their own because the previous generations they had a situation where college was much more affordable higher education was much more affordable and it also wasn't as necessary to really get a job so there was a system that was more conducive to success back in the day and now what Bernie's doing is he's trying to honestly what this is selling the American dream now they're gonna try to the responses of course gonna be nonsense of it as well so what you're those own bad and they're gonna have nothing of substance to say but the reality is Bernie should take that mantle of I'm the candidate of the American Dream I'm a big fan of stealing the framing that is you know sometimes the old-school corny ass cheesy hokey framing but it resonated at a time like I don't know what why wouldn't you say I am the candidate of the American dream that's what this is and this goes above and beyond um Elizabeth Warren's plan which again is pretty much what you'd come to expect from Bernie but to have him lay it out is just awesome so and it also puts other people in a position where okay you want to come out against it go ahead like it draws a line in the sand and says this is one of the things that it means to actually be on the left you want to disagree by all means go right ahead and disagree let me know how that works out for you so it's forcing people to take sides and you're gonna have it ii 'it's like the breakfast cereal Hickenlooper and john delaney and you know mainstream media they're gonna fall on the side of the broken and grotesque and disgusting status quo just because things are the way they are right now doesn't mean that like you can smugly scoff at it and act like that's how it should be that's not an argument it's not our argument to say well if like this now so why would why would we do something like fix the problem it's already like this so it is what it is that's how dumb people think and that's how people who are culturally brainwashed think they are shackled to the status quo and they're unable to break free and and view a positive future so I love this plan from Bernie Sanders again you could read all of the specifics I'm going to leave the link in the video description box and it really does go into excruciating detail they really anticipated all of the counter arguments and they have responses for absolutely everything and you know one of the things Bernie says the example he uses is well we bailed out Wall Street and didn't ask any questions and had no strings attached they could do whatever the they want to do they took that money and oftentimes they turned around and gave bonuses to the same people who bank corrupted their respective companies that's what they did and nobody said how are we gonna pay for it they said oh my god it's necessary because if we don't do it the economy is totally well okay you open the door and use that argument so it's Bernie gonna say the exact same thing about student loan debt hey we have to do this it's a moral necessity if we don't do it sorry but the economy will be totally so this is a bailout of the people not of Wall Street a bailout of the people I don't know about you guys but I'm tired of bailing out the military-industrial complex I'm tired of bailing out Wall Street I'm tired of giving eighty billion dollars in quantitative easing to the big banks per year I'm tired to giving four billion dollars a year to ExxonMobil they get bailouts all day long we have corporate socialism in this country aka corporatism well what if we actually spent tax money our money on the people in a way that made sense I said it before I'll say it again I would love I would pay my taxes with a smile on my face if I knew when I was doing it you know what this money's going towards it's going towards health care I'm gonna treat kids with cancer with this check that I'm writing I'm gonna pay off somebody's student loan debt and give them a shot at a better future I'm gonna pay for somebody's free college I'm gonna pay for you know somebody's guaranteed vacation time if this is what the money was going for I think we'd all enjoy paying taxes you'd use it as a civic duty but know when your money goes towards endless wars and Wall Street bailouts everybody's pissed when it comes time to pay their taxes cuz it's like look at what the you're spending it on I'm contributing to a giant war machine and an empire among many other things so I love this move from Bernie I think it's wonderful I think it's great that he one-upped Elizabeth Warren make no mistake about it guys there's one Bernie Sanders you understand there's one Bernie Sanders so you know don't be fooled by diet Bernie Sanders because it ain't the original

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43 thoughts on “Bernie Proposes Cancelling ALL $1.6 Trillion In Student Loan Debt

  1. Sure, tax Wall Street, see how fast those companies move out of the US – just look at NYC, losing companies with mounting debt.

  2. I agree on many things with Bernie, but not on student debt. Sure I could get on board with subsidised funding to equal the playing field for poorer families but making tertiary educating free is just stupid.

    Why should someone get to go to university taking a completely useless major (gender studies for example) and then have said qualifications (even the useful ones) not even help that person get a job in the field they want.

    There are other issues such as, what happens when someone drops out of tertiary education (waste of money ) and why should the person who decided to enter employment, often in a lifelong career be disadvantaged by doing so.

  3. Andrew Yang's freedom Dividen is a way better idea. Bernie is only giving people money that had an advantage in the first place. What about all the people that did not go to school. What do they get. Everyone gets a $1,000 a month under Andrew Yang's plan. This will help pay off student loans. Everyone else can pay on what ever debt they have generated. If not then this is unfair to the rest of Americans.

    Andrew Yang 2020.

  4. Millions of dimwitted people will flock to universities to attend courses such as – "Gender Studies", "Lesbian Synchronized Swimming", "How to Decorate Your Safe Space", "The Rape Culture Made Me Do It" ….and so on. Hilarious.

  5. So, here is how it works:

    B lends money to A.
    B is waiting for payment from A.
    Government comes in and says NOPE. A doesn't have to pay you anymore. Go suck a lemon.

    For the life of me I can't figure out how THE FUCK such a plan wouldn't be unconstitutional as hell!

  6. I've seen some of your Chomsky videos. This one is particularly useful and interesting. I think you'll want to do a video on it:

  7. What i think is funny is you can learn everything you need learn from a couple of books. maybe 120-180 dollars of books. That has everything you need to learn. So you are spending 100,000 on someone speaking the words in the book in a lecture hall and couple of tests. maybe a couple of labs if you do science.

  8. He should make Wall Street start their own savings account for their own bailout instead of stealing it from taxpayers.

  9. I'm sure that the Pelosi/Schumer mafia will be as receptive to this as they are to anything with the word Green in it. Unless you're talking about the green lobbyist cash in their pockets.

  10. Man learning about Bernie Sanders in 2014 changed my life cause I really got involved in learning what i could about politics as policy and Bernie has been great at unveiling new policy to help the middle class

  11. There’s no substance here. This is basically putting the mess under a carpet. Not actually dealing with the problem but just hiding it under taxes. There’s so much more to this than just deleting the trillion dollar debt with no consequences.

  12. I read that a lot of student debt been sold off and changes hands as a sellable asset? Smelled a bit like “selling children for profit” to me, but what do I know. Where I live education is freely available to all (though the English did try profitising education – but Scots aren’t so criminally stupid)

  13. The stupidest argument I've heard against free college is that "rich people might take advantage of it."
    Yeah, all those wealthy families that are so eager to send their kids to a public college. Don't even get me started on all those well-known community college legacies. "Gosh, honey, we really wanted to send you to UConn, but it's not free, so we'll just have to send you to Yale instead."

  14. I don't think university should be free, it should most certainly be cheaper and more accessible to give a fairer race to all classes in society but it shouldnt be completely free. University is an investment that you make because it should be seen as something that will benefit you when you get older and you will go into a career where you will be able to pay the (significantly lower) debt back and then make a good life for yourself and your family and contribute positively to society. There should be more emphasis on other alternatives to university as well, here in the UK we do not get university for free but it is cheaper (although our government has proposed increases which I do not agree with) and university is not seen as the be all and end all because there are many other alternatives to university and people do not look down on you for having not attended university. From speaking to Americans, university is seen as everything in America which has created a situation where people are going to university when they dont truly have their heart in it because they are being pressured to do so and thus making it free will just worsen this situation. Overall, university does need to be cheaper to lower the burden of debt but also other programs and alternatives need to be setup like the UK has done. I am willing to be proven wrong, what do you guys think?

  15. Maybe I need to read the details. Can I get reimbursed for the $40k I repaid? Who owns the debt? Universities? The Student Loan Corporation or some quasi government entity? Big banks? Will the federal government pay all of them off? Does this include private colleges? Can I go to Harvard, Yale, MIT, UCLA, Stanford for free! Housing too? Woo hoo!

  16. So instead of a being an adult and paying back a loan that the adult willingly recieved, that adult wants to have other tax payers pay for their debt instead? Expect nothing less from an idiot like Bernie Sanders.

  17. Here is an idea for how to pay for it. QE. Quantitative easing for the students and medical debt. Same way banks got bailed out without hyperinflating the dollar.

  18. Warren's plan is the bare minimum and simply a milquetoast capitalist compromise she has set for a starting point for the debate. It's par for Warren.

    Bernie: So, it's grade-school T-ball versus the New York Yankees. Your plan is just some tepid, off-brand, generic cola. What I'm making is Classic Coke.

    Warren: If I beat you there will be no more coke.

    Bernie: Who would want to live in a world without Coca-Cola?

    [Warren and establishment laugh]

    Bernie: :
    My people tell me that your crew switched to a populist left message because of our success. You tweak your plans to make it look like mine. You already ate my proposals at every turn.

    Warren: Who the hell are you?

    Bernie: You know. You all know exactly who I am. Say my name.

    Warren: Do what? I don't-I don't have a damn clue who the hell you are.

    Sanders: Yeah you do. I'm the next president. I'm the man who pressured Jeff Bezos to pay a $15 minimum wage.

    Warren: Bullshit. Free markets and public demand pressured Bezos

    Bernie: You sure?

    [Warren looks at American people, who shake their heads]

    Bernie: That's right. Now say my name.

    Warren: You're Bernie Sanders.

    Bernie: You're goddamn right.

  19. Bernie is a shell of his former self, it was on full display at the debate. The guy had aged rapidly since he last ran.

  20. Free healthcare, free college and free housing for all. I'm voting for Bernie Sanders cause he sounds like a big communist Santa Claus.

  21. B-b-but what about my daughter who died of cancer?! We shouldn't find a cure for cancer because that would be unfair for my daughter!

    (Btw im joking about the cancer thing. Thankfully, no one in my small family have cancer!)

  22. what happens when colleges begin to expect student loan debt to be cancelled every time they spiral out of control (and thus see no reason to drive down the prices) resulting in an effective federal bailout of the populace every couple decades?

  23. Can we also give everyone a house on a lake with a white picket fence and food vouchers for life?

    While we're at it we'll need to furnish their houses too and give everyone a cute little dog.

    Then we'll need to supply people with spouses and kids.

    Also we need to supply all of this for illegals too. The moment they touch American soil they should become citizens so we need to keep a steady supply of houses for all of them as well.

  24. Comment to @michele_4trump

  25. majors in gender studies
    can't get job
    relies on far left radicals to get bailed out of loans
    conservatives: 'FUCK YOU' #trump2020

  26. Too bad Bernie doesn’t support ending our “aid” to Israel or our illegal wars on Israel’s behalf to pay for any of this.

    The guy is just as beholden as every other Zionist in “our” government.

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