Sanders Faces Criticism from Dems, the Media Over His Student Loan Forgiveness Plan | NTK Network Sanders Faces Criticism from Dems, the Media Over His Student Loan Forgiveness Plan

Sanders Faces Criticism from Dems, the Media Over His Student Loan Forgiveness Plan

“Bernie Sanders is Running on a Plan to Bail Out Rich Kids,” the Washington Post’s editorial headline read.

By NTK Staff | 06.26.2019 @1:00pm
Sanders Faces Criticism from Dems, the Media Over His Student Loan Forgiveness Plan

Sen. Bernie Sanders is facing significant blowback from members of his own party as well as the media for a plan he unveiled this week. Sanders wants to cancel $1.6 trillion in student loan debt owed by 45 million people.

While the proposal sounds nice in a fantasy-land kind of way, Democratic lawmakers are saying it’s unrealistic. Sen. Jon Tester (D-MT) called the plan “Trumpian,” meant as an insult.

“Higher ed is out of control cost-wise, we’ve got to do some things about it, but you can’t just say it’s going to happen. You have to have a plan to make it happen,” he said. “I agree with what he’s trying to do here, but I don’t think just saying it makes it happen.”

“It is a lot of money,” he added.

But Tester is not alone. Sen. Mark Warner (D-VA) also criticized the plan for its high costs.

“I worry about the $23 trillion in debt. If we simply move more of that debt at the national level onto young people’s backs, that’s going to be a burden you’re still going to have to absorb as well,” Warner told The Hill.

Those Democrats were joined by the Washington Post editorial board on Wednesday. While also concerned about the costs of this plan, the Post takes particular issue with the fact that the proposal would primarily help the wealthy. The piece titled, “Bernie Sanders is Running on a Plan to Bail Out Rich Kids,” goes after Sanders for being short-sighted on the impacts of this bill.

In short, the democratic socialist candidate is running on a plan to bail out doctors, lawyers and their children to the tune of hundreds of billions of dollars — while touting it as middle-class payback for the 2008 Wall Street bailout. Yes, Mr. Sanders would pay for his plans with a tax that fell mostly on the investing class; the point, however, is not the origin of the money but the alternative uses to which the money might be put. In that regard, it makes no sense to transfer so much of the revenue from one group of well-off people to another, when you could spend the $2.4 trillion on, say, pre-K schooling for poor children, college assistance for low-income young adults — or any of several other worthy public purposes whose benefits would reach a needier swath of the American population.

The Post called Sanders’ plan a “formula for a massive upward redistribution of the nation’s limited resources,” and even noted they preferred the plan of Sanders’ far-left rival, Elizabeth Warren.

It’s a stinging rebuke for a presidential candidate who finds himself slowly falling behind Warren in the polls.

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