Drudge Retort: The Other Side of the News
Tuesday, January 14, 2020

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

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Nothing like buying votes, huh? In this case a potential 42 million of them.

#1 | Posted by goatman at 2020-01-14 11:36 AM | Reply | Newsworthy 3

Soooo what about those that paid off their loans?

#2 | Posted by AndreaMackris at 2020-01-14 11:41 AM | Reply | Newsworthy 1

#2

What about them?

Why are republicans such bitter pissants?

This is why we can't progress as a nation.

Because of butthurt people who want others to have the same burdens they had/have.

#3 | Posted by ClownShack at 2020-01-14 11:44 AM | Reply

federal student loans up to $50,000 for 95% of those with outstanding student debt, or 42 million people.

So. It's only for federal loans. Doesn't affect private loans.

And it's for people owing less or up to $50k.

Sounds great.

Ridding these people of debt will help them a lot.

#4 | Posted by ClownShack at 2020-01-14 11:48 AM | Reply

"Ridding these people of debt will help them a lot.

#4 | POSTED BY CLOWNSHACK "

And ridding others of their (non-student loan) debt would help them as well.

#5 | Posted by goatman at 2020-01-14 11:50 AM | Reply

""Ridding these people of debt will help them a lot.
#4 | POSTED BY CLOWNSHACK ""

There is about $1 trillion in outstanding student federal loan debt. Are you so naive as to think that the US can just easily absorb that? You libs whine every time Trump causes the national debt to go up that much -- and rightfully so. But you have no problem allowing people, (well some people) who took out loans and knowingly going into debt to let the American taxpayers pay for their obligation.

Also, these people are better educated and therefore are making more money and living a better lifestyle than those who didn't choose to go into debt to better themselves.

How elitist of you, Clownshack. Why do you hate the poor so much? Why do you want to forgive the richer people's debt?

#6 | Posted by goatman at 2020-01-14 11:58 AM | Reply | Newsworthy 1

"Nothing like buying votes, huh? In this case a potential 42 million of them."

But it's ok when it is 2.5 trillion dollars in tax cuts that is the price of the votes of Republicans. Anyone who really wants to boost the American economy would support the forgiveness of student loan debt. More homes, cars, merchandise would be purchased by those who are burdened with student loan debts today. It would be sort of like entering the 21st Century where great nations educate their citizens. Let us compete with China, Germany, many other modern nations.

#7 | Posted by danni at 2020-01-14 12:07 PM | Reply | Newsworthy 1

"Why do you want to forgive the richer people's debt?"

Why don't you want to forgive the debts of struggling Americans who studied and worked to get ahead but are now just paying off student loan debt?

#8 | Posted by danni at 2020-01-14 12:08 PM | Reply | Newsworthy 1

Quite honestly some of the issues surrounding student loan debt are ridiculous. I know a young man with a law degree, brilliant mind, he can't take the bar exam because he is somewhat in arrears on his student loan. So gee, what could help him catch up on his payments and pay off his debt? Right! Taking the bar exam and being able to practice as a lawyer. We live in a nation where "Catch 22" is the norm not the exception.

#9 | Posted by danni at 2020-01-14 12:10 PM | Reply | Newsworthy 1

SporkGoat just being (R)tarded.

#10 | Posted by aborted_monson at 2020-01-14 12:15 PM | Reply

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"Why don't you want to forgive the debts of struggling Americans who studied and worked to get ahead but are now just paying off student loan debt?

#8 | POSTED BY DANNI "

For the same reason I don't expect my mortgage debt to be paid off by someone else. They, like I, took out a loan knowing we would have to pay it back. I struggled a few periods in my life when I got laid off and things got real tough. Should you and the rest of the American taxpayers have started making my house payments for me?

And these people who owe student loans. I wonder how many TVs they have in their houses. I wonder if they live in a McMansion. I wonder if they have boats and fine imported cars? I ask because I know people who live like this and have student loans. One is my son. Do you feel you and I should be paying their loans for them making it easier for them to get that boat paid off?

#11 | Posted by goatman at 2020-01-14 12:19 PM | Reply

--is 2.5 trillion dollars in tax cut(s

*drink*

That's a drop in the bucket compared to the tens of trillions of new spending Democrats want, like 16 trillion for Sanders new green scheme alone.

#12 | Posted by nullifidian at 2020-01-14 12:21 PM | Reply

"SporkGoat just being (R)tarded.

#10 | POSTED BY ABORTED_MONSON "

Profound.

So you don't have the brains to rebut a retarded person. Wow. What does that make you? Sub-retarded?

Now go cry to rcade and tell him that when you attacked me, I responded. Maybe you'll get me thrown in jail again.

#13 | Posted by goatman at 2020-01-14 12:21 PM | Reply

"That's a drop in the bucket compared to the tens of trillions of new spending Democrats want, like 16 trillion for Sanders new green scheme alone."

The only thing more expensive than the Green New Deal is to do nothing.

#14 | Posted by danni at 2020-01-14 12:25 PM | Reply | Newsworthy 1

"A Washington Post review of the major spending proposals of the leading Democratic presidential candidates found 10-year costs ranging from about $4 trillion to more than $50 trillion. The annual federal budget now is about $4.5 trillion."

Go ahead, repeal the 2 trillion tax cut. Now all you have to do is find another 48 trillion to pay for Sanders and Warren's plans.

#15 | Posted by nullifidian at 2020-01-14 12:30 PM | Reply

"Go ahead, repeal the 2 trillion tax cut. Now all you have to do is find another 48 trillion to pay for Sanders and Warren's plans."

""I'd say that it is *way* too early to even pretend to put cost estimates on the Green New Deal.' It's at this point a still-amorphous construct," said Josh Bivens, director of research at the labor-funded Economic Policy Institute, in an email to FactCheck.org."

Right now, it is just a bunch of ideas but conservatives are already trying to convince us not to even think about doing anything to combat global climate change because they haven't yet been given permission by Fox News to even acknowledge there is such a thing. How can you hold an intelligent argument with people who can't even admit there is a problem when we can see evidence of it every day, all over the world.

#16 | Posted by danni at 2020-01-14 12:48 PM | Reply

And bypassing Congress would be a good thing? I don't care if you are a Democrat or a Republican, a liberal or a right winger, none of us should be cheering on an executive agenda that is put into place by bypassing the legislative processes of Congress. Congress serves a critical purpose. This is something that many Americans, with their dim of Congress, seem to have forgotten.

#17 | Posted by moder8 at 2020-01-14 02:58 PM | Reply

Uhhhhh wait. We're impotent. We mean IMPORTANT. See, look, we just passed a non-binding resolution regarding war with Iran. See? See?!? That act alone shows we're impotent. (Damn it) We mean IMPORTANT!!
--you know who

#18 | Posted by catdog at 2020-01-14 03:11 PM | Reply

Allow student loans to be discharged in bankruptcy under much more lenient terms than now. This takes care of hardship cases and will make lenders think twice about loaning a lot of money for degree unlikely to pay off.

No limit forgiveness of unsecured loans is fraught with moral peril.

#19 | Posted by bored at 2020-01-14 03:21 PM | Reply | Newsworthy 1

And bypassing Congress would be a good thing?

I don't support bypassing the democratically elected House, but i absolutely support bypassing the malapportioned Senate.

#20 | Posted by JOE at 2020-01-14 03:21 PM | Reply

Cheers Congress is king. We need a weak executive not a strong one. Ceremonial not a real king if you will.

#21 | Posted by Effeteposer at 2020-01-14 03:22 PM | Reply

Two things:

A) will that forgiven debt be taxed by the IRS like standard forgiveness programs? The vast majority of those being forgiven won't be able to afford the bill to the IRS.

B) there are other things that could and should be done first. Namely, drop interest rates back to where they were (~2.5%) instead of 6.5%+ and make grades repayment easier to attain.

#22 | Posted by jpw at 2020-01-14 03:31 PM | Reply

11, yes, if I get to go out on water with him.

#23 | Posted by Petrous at 2020-01-14 05:13 PM | Reply

That's a drop in the bucket compared to the tens of trillions of new spending Democrats want, like 16 trillion for Sanders new green scheme alone.

#12 | Posted by nullifidian

Except one is debt yet to be incurred and the other is debt incurred.

Do try to keep up, dotard.

#24 | Posted by jpw at 2020-01-14 05:23 PM | Reply | Newsworthy 1

And bypassing Congress would be a good thing? I don't care if you are a Democrat or a Republican, a liberal or a right winger, none of us should be cheering on an executive agenda that is put into place by bypassing the legislative processes of Congress. Congress serves a critical purpose.

See the thread about the EPA. Congress CREATED this.

#25 | Posted by MUSTANG at 2020-01-14 05:24 PM | Reply

-"compromise and modify" federal student loans......

why say it that was if you're going to truly "eliminate" them?

I like Warren....but I just don't believe her on this issue.

#26 | Posted by eberly at 2020-01-14 05:27 PM | Reply

Soooo what about those that paid off their loans?
#2 | POSTED BY ANDREAMACKRIS

Excellent point.

It would be unfair to those blacks and women who never got to vote, to give blacks and women the vote now!

Signed,
Deplorables.

#27 | Posted by snoofy at 2020-01-14 05:30 PM | Reply

"Right now, it is just a bunch of ideas campaign promises"

ft.

#28 | Posted by eberly at 2020-01-14 05:33 PM | Reply | Newsworthy 2

And bypassing Congress would be a good thing? I don't care if you are a Democrat or a Republican, a liberal or a right winger, none of us should be cheering on an executive agenda that is put into place by bypassing the legislative processes of Congress. Congress serves a critical purpose. This is something that many Americans, with their dim of Congress, seem to have forgotten.

#17 | POSTED BY MODER8

Thank you! I'm sad I could only give that 1 NW flag.

#29 | Posted by JeffJ at 2020-01-14 07:08 PM | Reply

I hate to say it (ha ha) but I think Goatman makes good points on this. We definitely need to address the crippling student debt...and behind that, the soaring cost of higher education...but I have misgivings about simply wiping it out. And I say this as a guy with one kid in college and another almost there. And we're going to have a tough time paying for it all.

Maybe we need to look at ways to make the cost lower. My daughter's "sticker price" for college for one year is $40,000. That's insane. Fortunately, she's a straight A student and receives about 2/3 of that in scholarships. Otherwise, no way could she go.

#30 | Posted by cbob at 2020-01-14 07:24 PM | Reply

30 | POSTED BY CBOB AT 2020-01-14 07:24 PM | FLAG:

I'm. In the same boat on simply wiping out the debt. Here's where I get rubbed the wrong way though.... personal responsibility is good for everyone - EXCEPT - when my tax dollars go to bail out a greedy bank who got themselves in a pickle, well, because they were greedy.

But I do agree with you and Goat. I also agree with another poster up thread that in certain hardship situations, the loans should qualify for bankruptcy. Like cancer or becoming disabled.

#31 | Posted by lfthndthrds at 2020-01-14 07:44 PM | Reply | Newsworthy 1

"I hate to say it (ha ha) but I think Goatman makes good points on this. We definitely need to address the crippling student debt...and behind that, the soaring cost of higher education...but I have misgivings about simply wiping it out."

Bottom line, lenders have made a fortune lending lots of money to people who will have little chance of paying it back.

A few years ago, there was something posted here on Drudge by a journalist explaining why he wouldn't repay his college debt. He had gone through undergrad at Columbia, followed by grad school at NYU. Currently, a 4 year degree from Columbia will cost you just under $300k. a Graduate degree from NYU will cost you around $43k (tuition only). Upon graduation, the newly minted journalist quickly realized he was not going to make more than around $30k a year. And wanting to live in NYC, that's pretty much poverty.

Loaning a liberal arts student $300k for tuition is not a good investment. Actually, loaning anyone that much is probably a bad investment. I think the US might be the only place where that would be permitted.

#32 | Posted by madbomber at 2020-01-15 03:09 AM | Reply

"My daughter's "sticker price" for college for one year is $40,000. That's insane."

That's insanely cheap!

I have two daughters. If I can get them out the door for $80k, awesome! I might already be there actually...I haven't checked in a few years.

I was planning on about $500k for both, which for me would be unattainable. I might have a third to half of that by the time they head off to college.

#33 | Posted by madbomber at 2020-01-15 03:14 AM | Reply

Soooo what about those that paid off their loans?

#2 | POSTED BY ANDREAMACKRIS

Government: "Ma'am, this disease is crippling your children. But for $5 per child, we can immunize all children so they'll never get the disease."

ANDREAMACKRIS: "It would be morally unfair to all the children already crippled by the disease to protect the future children!"

#34 | Posted by Sycophant at 2020-01-15 11:12 AM | Reply

Insanely stupid. Congress needs to start the Warren impeachment process now so articles will ready on day one.

#35 | Posted by visitor_ at 2020-01-15 11:19 AM | Reply

Blue collar worker: I couldn't afford 40,000 per year tuition so I worked my way through trade school.

College graduate: There's no way I can pay back my 400,000 loans on my Doctorate of Grievance Studies degree with my job as a barista.

Warren: Let's erase that debt!

Who is going to pay for that?

Blue collar worker raises hand.

#36 | Posted by visitor_ at 2020-01-15 12:48 PM | Reply

36

That's exactly why this is such a bad idea. The GOP will be able to recruit millions of middle class workers who couldn't afford college and we are going to bail out their friends who did go and racked up debt and got it all written off....and knowing THEY are paying for it.

Now, that may not be a 100% accurate assessment of what happens but that doesn't matter....that's how its going to be spun.

IOW, loyal democrats will not be so loyal if they do this........

#37 | Posted by eberly at 2020-01-15 01:07 PM | Reply

Nothing like buying votes, huh? In this case a potential 42 million of them.

#1 | Posted by goatman at 2020-01-14 11:36 AM | Reply | Flag:

You mean like:

"No one will lose coverage. There will be insurance for everybody. Healthcare will be a "lot less expensive" for everyone " the government, consumers, providers. "

"I'm not going to cut Social Security like every other Republican and I'm not going to cut Medicare or Medicaid."

"Allow individuals to fully deduct health insurance premium payments from their tax returns under the current tax system."

"The Trump plan will rewrite the tax code to allow working parents to deduct from their income taxes child care expenses for up to four children and elderly dependents."

"Everybody is getting a tax cut, especially the middle class."

"The 3.8 percent Obamacare tax on investment income will be repealed, as will the alternative minimum tax."

"No family will have to pay the death tax."

#38 | Posted by Nixon at 2020-01-15 01:17 PM | Reply

38

Yes, like that.

#39 | Posted by eberly at 2020-01-15 01:24 PM | Reply

How about meeting in the middle? (Unheard of these days I know). Don't forgive the loans, but make the interest rate 0%.

#40 | Posted by The_Finn at 2020-01-15 02:51 PM | Reply

scontent-dfw5-2.xx.fbcdn.net

#41 | Posted by MSgt at 2020-01-15 09:28 PM | Reply

#41 posted by a guy cheering the packing of courts with unqualified ideologues to force his worldview on the rest of us.

#42 | Posted by jpw at 2020-01-16 07:52 AM | Reply

"#41 posted by a guy cheering the packing of courts with unqualified ideologues to force his worldview on the rest of us."

Really?

Just curious what's been forced upon you.

#43 | Posted by madbomber at 2020-01-16 10:52 AM | Reply

Blue collar worker: I couldn't afford 40,000 per year tuition so I worked my way through trade school.
College graduate: There's no way I can pay back my 400,000 loans on my Doctorate of Grievance Studies degree with my job as a barista.
Warren: Let's erase that debt!
Who is going to pay for that?
Blue collar worker raises hand.

#36 | POSTED BY VISITOR_

Why pretend like that?

Why act like college loans, many carrying 8-9% interest rates, aren't insane? Why pretend state schools aren't charging $20-30K a year for an undergrad degree while jobs aren't paying more than $50-70K after graduation?

Do you REALLY think the issue with student loan debt in this country is people getting degrees like a Doctorate of Grievance Studies?

Maybe if you had set foot on a college campus, you'd know every undergrad major is suffering and the major is only a part of the education. It's having the education, i.e. the ability to read, write, do basic math and think critically that matters, that comes with the degree that matters.

Do you really just want everyone to have a 1-2 year trade degree? To hell with having educated citizens?

And we wonder why we can't compete with foreign countries economically? It's idiots like Visitor killing our education system.

#44 | Posted by Sycophant at 2020-01-16 12:11 PM | Reply

-Why act like college loans, many carrying 8-9% interest rates, aren't insane? Why pretend state schools aren't charging $20-30K a year for an undergrad degree while jobs aren't paying more than $50-70K after graduation?

I agree with you but what Visitor is pointing out, in part, is the political reality of forgiving loans for some and pissing off kids who paid off their loans and/or went to trade school...just so some ------- who didn't pay his loans off gets a free ride. Again, very easy to make that political spin out of it.

let me put it this way...do you think forgiving those loans will represent a political advantage for democrats? Not promising to do it while campaigning...rather, actually forgiving the loans?

and again....I agree higher education needs a massive overhaul in this area.

#45 | Posted by eberly at 2020-01-16 12:19 PM | Reply

If you have already paid off your student loans, want to make Liberal heads explode and also guarantee a refund of money? Start claiming you have PTSD from paying off your student loans or are offended that they weren't paid before. Then you will HAVE to get a refund because, bless your wittle heart, the Liberals owe it to you. I, for one, can't wait!!! I mean, I still have $16k to go out of $44k but I'm excited to be able to get it all back just by claiming I have been offended.

#46 | Posted by humtake at 2020-01-16 12:31 PM | Reply

#43 I said TO force.

As in future tense.

#47 | Posted by jpw at 2020-01-16 12:56 PM | Reply

I paid my student loan, so if this happens I want my money back!

same way with Medicare for all. I've been paying for years just to see someone 18 get Medicare for free..........I want my money back!

#48 | Posted by Maverick at 2020-01-16 02:22 PM | Reply

"Why pretend state schools aren't charging $20-30K a year for an undergrad degree while jobs aren't paying more than $50-70K after graduation?"

I agree completely.

The only reason lenders don't care about loaning lots of money to people who will never be able to generate a significant return on that investment is that the loans are backed up by the government. So why not provide them?

"It's having the education, i.e. the ability to read, write, do basic math and think critically that matters, that comes with the degree that matters."

Matters to whom? Not employers. Not really. Employers needs employees with the skillsets required to keep their firms moving forward. And that requires far more than the ability to spell, do basic math, and speak smartly about the arts.

"Do you really just want everyone to have a 1-2 year trade degree? To hell with having educated citizens?"

Why are you assuming that tradesmen are uneducated. I can't weld. I can't fix my cars. I can't wire an office building. Can you? And they're going to make a lot more than your average student who graduates with a degree in sociology.

#49 | Posted by madbomber at 2020-01-16 02:58 PM | Reply

I personally think that the government should provide tuition assistance as a means of encouraging students to go into underserved fields, such as STEM and medicine. Not enough qualified students are going that route. But if you're going to major in something that most of us would consider a hobby, then there is not much use in putting taxpayer dollars against it.

#50 | Posted by madbomber at 2020-01-16 03:00 PM | Reply

I went to college on a full-ride ROTC scholarship. Why not propose something like that for people who don't want to go into the military? Consider medicine: provide tuition for medical school with a set follow on term of government service. The military requires four years typically. After that, these now experienced doctors could go make big money in private practice...and do so debt free.

#51 | Posted by madbomber at 2020-01-16 03:03 PM | Reply

If she's willing to forgive those who took on private loans as well there's no reason not to elect her over Sanders.

#52 | Posted by Tor at 2020-01-16 03:04 PM | Reply

Why not create airfordable National University. The Federal overseers would be required to keep tuition low. Not only would this help poor people and vastly lower loans, it would force the state universities and perhaps some private ones to lower their tuition in order to stay competitive.

#53 | Posted by goatman at 2020-01-16 04:14 PM | Reply

"I can't weld. I can't fix my cars. I can't wire an office building. Can you? And they're going to make a lot more than your average student who graduates with a degree in sociology."

You sure about that?

Sociologists:
"The median annual wage for sociologists is $82,050."
"According to the US Department of Labor's Bureau of Labor Statistics, those who professional sociologists earned an average of $35 an hour, or roughly $73,000 a year"

Welders:
"According to the United States Department of Labor and the Bureau of Labor Statistics, the median pay 2016 was $39,390 per year. As you can see, there are some welders that make up to $200,000 and more annually. These are probably very specialized, experienced and skilled welders. But most welders make much less"
"A mid-career Welder with 5-9 years of experience earns an average total compensation of $18.48 based on 2,756 salaries. An experienced Welder with 10-19 years of experience earns an average total compensation of $19.89 based on 2,552 salaries."

Plus, a welder is more likely to be exposed to carcinogens and other on-the-job hazards than a sociologist.

#54 | Posted by snoofy at 2020-01-16 04:22 PM | Reply

Sociology, Biblical Studies, Fashion Design, Theater, and anything related to art are the majors recognized as having the lowest starting salaries.

That would be OK, if they went on scholarship. But it would be completely idiotic to spend $300k on a bachelor's degree in sociology, knowing that it will be a long time before you could even hope to pay it off. It would be equally idiotic for someone to lend a student $300k to get said degree, if it weren't for the fact that the loans are backed up by the government.

#55 | Posted by madbomber at 2020-01-17 03:04 AM | Reply

The welders in the oil fields of North Dakota were making $7k per week. About a third of that was the per diem paid by the company to cover living expenses, but $4k a week is still pretty good haul for someone who likely doesn't owe a cent in student loans.

#56 | Posted by madbomber at 2020-01-17 03:06 AM | Reply

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