Wednesday on CNN’s Newsroom, Sen. Elizabeth Warren (D-MA) declared with a straight face that people who paid off their loan debt and now will have to bail out those who didn’t, thanks to the president’s debt “cancellation” plan, that the plan is popular and debt cancellation leads to “more economic activity.”
Asked about Sen. Mitch McConnell’s (R-KY) remark that the plan is “a slap in the face to working-class families,” the multi-millionaire socialist Warren responded, “Look, I’m not at all surprised that Mitch McConnell is attacking this. And the reason he’s attacking it is because it is very, very popular, popular among Democrats, Independents, Republicans, popular.”
How out of touch does a politician have to be to believe that the idea of student debt cancellation is popular? Warren is either clueless or blatantly gas-lighting the American public.
“And you know why?” she continued to blather. “Because I don’t think there’s anybody left in America who doesn’t know somebody who isn’t struggling with student loan debt. This has become a part of our country now, people for whom their only sin was to want to try to get an education and not be in a family that could afford to write a check for it. And what we’re saying is, as a nation, we can do better than that. We can invest in our people. We can help our people. And ultimately, what the data show us is that because of student loan debt, there are many people who don’t move out of their mama’s basement, who can’t save up money to buy a home, who don’t start small businesses, who don’t start a family. You relieve the debt burden some for those people, and we have more economic activity. In other words, canceling student loan debt is good for the people whose debt is canceled. But it is also good for our economy and the rest of America.”
Fact check: this will not be good for the economy. There is no honest economist who believes this will be a boost for the economy. It will simply be another burden the Democrats have foisted on the middle class.