It’s a good start, what the Senator is set to propose: canceling ALL student debt in the United States.
Sen. Bernie Sanders, I-Vt., will propose on Monday eliminating all $1.6 trillion of student debt held in the United States, a significant escalation of the policy fight in the 2020 Democratic presidential primary two days before the candidates’ first debate in Miami.
Sanders is proposing that the federal government pay to wipe clean the student debt held by 45 million Americans – including all private and graduate school debt – as part of a package that also would make public universities, community colleges and trade schools tuition-free.
Sanders is proposing to pay for these plans with a tax on Wall Street his campaign says will raise more than $2 trillion over 10 years, though some tax experts give lower revenue estimates.
A few things:
The tax isn’t even necessary.
This, however funded, would be substantially cheaper than the bankster bailout from Too Big To Fail. Unlike that scheme, Sanders’s proposal would benefit the American people.
Before libertardians and “CONservatives” wail about “a deal’s a deal,” kindly consider the original terms of the underlying deals.
And, this is a good start – on the way to repudiating all $74 Trillion in existing total US debt. There’s a very simple way to do it – and to “pay it all off” – within the scope of existing law. After that’s accomplished, new debt should be illegal, in the current mode of many jurisdictions’ misdemeanor drug possession laws: catch an individual with debt, seize the promissory note and any remaining funds – for destruction; catch someone manufacturing debt, felony and hard jail time.
It will be interesting to if this gets traction.