Elizabeth Warren’s campaign should be cringing.
Eleven days before the Feb. 3 Iowa caucuses, a video made a splash on social media showing a man furious over the Massachusetts senator’s much-hyped plan to eliminate the estimated $1.6 trillion in student loan debt in the country.
On her campaign website, Warren makes no bones about her plan to “cancel student loan debt on Day One of my presidency.”
But after the confrontation with the voter shown in the video, she should be having second thoughts.
A Father confronts @SenWarren
Father : My daughter is in school, I saved all my money just to pay student loans Can I have my money back?
Warren: of course not
Father: so you want to help those who don’t save any money and the ones that do the right thing get screwed? pic.twitter.com/EY8M57tj9F
— JiveBunny (@JiveBunnyMuzik) January 21, 2020
The circumstances surrounding the video weren’t clear — it was posted on Jan. 21. But the circumstances surrounding the man’s complaint were obvious enough.
“My daughter’s getting out of school, I saved all my money, so she doesn’t have any student debt,” the man told Warren. “Am I going to get my money back?”
“Of course not,” the Massachusetts senator responded.
“So you’re going to pay for people who didn’t save some money and those of us who did the right thing get screwed?” the father asked.
For Warren, there’s no way around the point. By vowing to use the powers of the presidency to end student loan debts for those who owe, it’s unavoidable that she’s not only being unfair to those who paid their debts like responsible, honest adults, but she’s also devaluing the sacrifice of those who’ve moved heaven and earth to avoid going into debt in the first place – either for their own sake or for the sake of their children.
It’s a classic case of punishing behavior that should be rewarded — if nothing else by leaving Americans free to enjoy the fruits of their own labors.
For the Warren campaign, the video presents an image of a candidate enthralled by her own dreams but being confronted by reality as it’s lived for millions of Americans.
Warren did not come out looking well, and the social media response showed it. By early in the afternoon on Jan. 23, the tweet had garnered more than 14,000 retweets and 33,000 likes.
It’s time for those of us that do the right things, that save for our future, that invest in our economy and community to say “NO MORE” to those that refuse to work or save….and especially to those politicians that want to STEAL our hard work and give it away for their benefit
— Harald Martin (@Huddy1955) January 22, 2020
She got owned. Well done, Dad. I feel you. My wife and I did the same thing. One child went out of state and graduated with no debt. The second is at a private institution and will graduate this year – no debt. This because we saved our money.
— Mesaholic (@mesaholic) January 22, 2020
There’s no denying there’s a student loan crisis in the country – thanks largely to the ease of getting student loans in the first place and the ease of avoiding repayment. (See an excellent Investor’s Business Daily editorial from 2015 here.)
The arrogant avarice of the higher education racket, with the hypocritical participation of Warren herself, a former Harvard Law professor, only made it worse.
With customers able to pay on borrowed money, colleges and universities have been able to increase their tuition and other costs in a market totally divorced from the disciplines of supply and demand. (And in gratitude for that government generosity, of course, academics essentially spit on the country that makes their cushy existence possible, but that’s a different topic.)
And Warren’s solution? Divorcing the market even further from reality by forgiving the loans of those who incurred debt.
The exchange had heads nodding all over the country.
And Warren’s campaign team should be cringing.
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