Canceling $50,000 in student loans for racial justice?

| July 30, 2021

This is an action that Elizabeth Warren is pushing for. She wants Joe Biden to cancel $50,000 in student loans. Chuck Schumer is in the same argument and insists that all that Joe Biden had to do was to whip out his pen and make it reality. However, in a “broken clock is right twice a day” moment, Nancy Pelosi disagreed. One reason she advanced was that it would not be fair for somebody to pay taxes on a loan that someone else’s children agreed to.

From the Daily Wire:

“And I’ll tell you why: it’s because of the people who need that debt canceled. 40% of the folks who are carrying student loan debt don’t have a college diploma. They tried, but life caught up with them. They had babies or someone in the family got sick. They were working three jobs — and now, they’re earning what a high school grad earns, but they are paying on college loans.”

Warren also claimed that the policy is an “economic justice issue” and a “racial justice issue.”

“African-Americans borrow more money to go to school, more money while they’re in school, and have a harder time paying it off when they get out of school,” she asserted. “Canceling $50,000 of student loan debt would help close the black-white wealth gap for people with student loan debt by twenty-five points. And for Latinos, by twenty-seven points.”

The article paints a picture that the Democrats are in debate mode about this issue. However, Elizabeth Warren, “The Squad”, and other hard progressives represent “the next waypoint” that the Democratic Party is headed to. The Daily Wire has more on this story here.

From YouTube, Me Me Meme:

Category: "Teh Stoopid", Liberals suck

Comments (30)

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  1. Slow Joe says:

    I am still trying to process that video…

  2. Green Thumb says:

    If they made this move, they would alienate almost all Republicans and about half of Democrats.

    Might be surprised what most moderate Democrats think about this idea.

  3. Roh-Dog says:

    President Reagan said it best, “Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.”

    How’s the government’s subsidizing ed and regulating student loans going? Guess how much of those ‘Junk Bonds’ are over at the Fed.

    I hate this clown world.

    (Me Me Meme is top kek! Earned a Brown Star with Tendies in the Great Meme War of 2016.)

  4. Martinjmpr says:

    My only thought is that this whole idea of “let people get college educations for free” is going to backfire spectacularly.

    Back when it was uncommon to have a college degree, having a degree made a potential job candidate stand above other candidates.

    But once everybody has a college degree, the “value” of a bachelors degree will be zero.

    “Oh, you’ve got a degree? So do the other 50 applicants for this job.”

    Actually, I’d say it’s already backfired given the number of people with worthless degrees who now realize they were lied to.

    The people who are really pushing this are not the borrowers, it’s the colleges and universities to live in (justifiable) fear that people are finally figuring out just exactly what a con most of “higher education” is, and sooner or later are going to turn on the colleges that promised them “a better life” if they got that sheepskin.

    • Sparks says:

      Good points Martinjmpr. I will add that most college degrees now are worth zero in the job market. Unless you graduate with a degree in a STEM field, the majority of degrees have no value to employers. Those in “Communications”, “Women’s Studies”, “Black Studies” “Psychology”, “Interpersonal Relationships” and the list goes on, are worth less than a QUALITY high school diploma and an order of magnitude less than an apprenticeship in a trade such as welding, plumbing, electrical, sheet metal, HVAC, and machinist.

      The guy who starts out of high school at the local Les Schwab tire store will make more money in his lifetime and have a greater pension than almost every generic college graduate at the end of their career.

      Last note, free education will lead to perpetual students. I saw them in the late ‘6os and ’70s and I am sure they still exist. They change majors like socks and seemingly want to be on campus the rest of their lives and that will become the norm if college becomes free. JMHO.

      • MI Ranger says:

        I saw those in the 80s but they were Trust Fund kids that were told it would run out when they got their degree. This one guy I knew had been in school for eight years and was one to three credits short of 13 degrees. He had to be very careful not to take a class that would qualify him for a degree.

      • A Proud Infidel®™ says:

        I myself dropped out of college to Enlist in the Army, went into the Blue Collar field afterwards and now I make more there than I would have if I had gotten a Masters Degree in the field I was studying!

  5. Only Army Mom says:

    Let me see if I understand this.

    Black and Brown people can’t graduate from college, so give it to them for free so whatever college is attained is equally worthless?

    Or is it, Black and Brown people can’t graduate from college because they’re not smart enough, resourceful enough or we don’t give them enough free stuff for them to graduate?

    How is either one of these statements anything but incredibly offensive and inherently racist?

    • Slow Joe says:

      Because Democrats are never racist. They understand the plight of the people who are not white and priveledged as Democrats are. They fight for the poor and the disadvantaged, at least in their minds.

    • MI Ranger says:

      I would really like to see the statistics to back up Ms. Warren’s claims. That “African-Americans borrow more money to go to school, more money while they’re in school, and have a harder time paying it off when they get out of school”. Is it because they are getting ripped off by for profit schools that offer worthless degrees? Can anyone say Trump University law suites? [I list this because they got exactly what they signed up for, and it did not appear to be accredited so what did they think it was?] Sounds like that Education Secretary needs to start doing their job and going after these scam “schools”.

      We need tradesmen and women. We need to promote their education! My Bachelors in Economics is about useless, and as far as what I am doing now so is my MBA (until I actually start my own business). I can just imagine what that degree in Art History, or (you name it) Studies will get you!

      • Fyrfighter says:

        Funny you say that, my sister has a masters in some ancient history, and she is a worthless basement dweller (my fathers basement) at 40 yrs old, and all she does is nanny (no idea who could be stupid enough to allow her near their children), riot with antifa/ blm, and actively work with some organization that assists illegals subvert our laws.. Her degree is worth less than an equivalent weight of toilet paper..

      • Dennis - not chevy says:

        I have three young relations with BA’s. One is doing well in his chosen major. The other two are not working in their majors. After they graduated they found, either, they didn’t like what they were doing, or, they found out it didn’t pay what they thought it would. Either way, they have both found good paying jobs in totally unrelated work and are not looking for handouts.
        It turns out they were smart enough to graduate with honors and smart enough to take care of themselves without government intervention.

        • Fyrfighter says:

          I’m currently working to finish my bachelors, as money allows.. I am taking that approach because:
          1. I refuse to take out a loan
          2. I wasn’t smart enough / family circumstances didn’t seem to allow me to do so before my GI bill expired
          3. My current department doesn’t have an education benefit
          4. Scholarships have been nearly impossible to find at my age (or again, maybe i’m not smart enough lol)
          But my degree is in the same field I’ve been in for 35+ years, and I find that if I want to make it to executive levels, a degree is now required

      • A Proud Infidel®™ says:

        “We need tradesmen and women.”

        True, that’s why one sees Headhunters recruiting at Trade Schools far more often than at four year universities!

  6. Hack Stone says:

    Hack Stone said it before, and will day it again; if you expect Hack Stone to pick up the tab for your education, Hack Stone gets some say in what degree you pursue, how much you spend on incidentals, and gets to review your school transcripts. That’s never going to happen though, we will continue churning out graduates with degrees in gender studies who are only qualified to empty the trash at Starbucks. They can’t even figure out how to use the coffee press.

    • Dennis - not chevy says:

      That’s how it worked in tuition assistance. You fail the course; you pay Uncle Sammy the money.

  7. KoB says:

    Oh.Hell.NO! I have paid way yonder over and above my fair share of taxes to support the deadbeat POCs of this Country. Enough is enough!

    Just today, while in the K Roger Store a young male of color was in the checkout line in front of me. He had a bottle of milk, a box of cereal, and a dozen eggs on the conveyor belt. Right behind those items was a 6 pack of cold beer, a pack of Newports, and a bag of chips. Cashier rang up the FIRST (ht 2 Hack Stone) items which he paid for with a WIC type check. He then took the cash back from the WIC voucher and paid cash for the other items. And yep, he was wearing Air Jordans, dreads, shorts showing his drawers and holding an IPhone. LBJ, you helped build this.

    OH.PHUQUE.NO!

    • The Stranger says:

      Was the beer at least Yuengling or was it swill of the same caliber as a certain velocity challenged individual around these parts favors?🤣🍺

      • KoB says:

        Swill. You nailed it. Butt Lite.

        Back when I was working for a living I’d hit the K Roger on Wednesday that was nicely located on my way home. Medium sized store, well stocked cause the truck showed up very early that morning and by the time I got there the shelves were full. The Mayor of Color had moved the Police Substation office located inside the store (complaints from POC customers that felt intimidated) and provided tax money to open a nail salon owned by, you guessed it, a POC. Many a time, I’d be in the checkout line and see the multitudes of WIC type vouchers being used to buy a small quantity of WIC approved items, get cash back, then the person would either pocket the cash, or buy non WIC items with it. The shop lifting got so bad ($250K+ a month) that Corporate finally closed it down. Then came the hue and cry over the “Food Desert” that was created. Dumbazz Mayor tried to file a lawsuit to force them to reopen. Lawers (and the Judge) told him to piss up a rope. City Council offered all kinds of financial incentives for another grocery store to move into the building. No joy there. It’s now a climate controlled self storage place.

        • A Proud Infidel®™️ says:

          Back in the 80s when I worked at a grocery store, I couldn’t count the amount of times I saw someone pay for multiple purchases of groceries with food stamps and use the cash change to buy cigarettes, beer or lottery tickets.

  8. Commie-Tsar says:

    When I applied for admission to UC Berkeley, I identified myself on all my student loan paperwork as a transexual Lithuanian immigrant maned Moesha… so if this works, my loans for my failed degree will be paid off at least twice!

  9. The Stranger says:

    By the way, this may have gotten lost in the shuffle last week, but a certain individual who was previously featured on this blog is getting attention:

    https://www.linkedin.com/posts/excelsior-college_matthew-mcconaughey-celebrating-our-inductee-activity-6824757132357898240-I4Q7

    Here’s the original post from back in 2016:

    https://valorguardians.com/blog/?p=68477

    Apparently, she’s parlayed her story into a trusteeship at a school that caters to military and veterans.

  10. Poetrooper says:

    When it comes to providing taxpayer-funded financial relief, Ol’ Poe cannot think of a more undeserving group of assholes than recent college graduates (and that assessment goes back a coupla decades).

    These assholes totally disrespect us (Boomers, as Lars likes to call my generation) and all other generations until their own selfish demographic, as well as vocally calling for our demise, and yet they want us to underwrite the cost of their worthless degrees?

    Ol Poe’s solution to this complex issue is really simple:

    Fuck ’em…

    • Hack Stone says:

      Have George Soros pay their tuition. He seems to have more than enough money that allows him to select candidates in every local election in the country. Surely he wouldn’t mind helping out these Students Of Color who are facing the inherent racism of higher education.

    • A Proud Infidel®™ says:

      I’m sure that more than a few of them have spent five to seven years in college for a four year degree in something like Gender Studies, Lesbian Dance Therapy or Underwater basket Weaving and feel like they’re owed a break as well as a six digit salary and keys to the Executive Washroom because those who got Degrees in something like Engineering have an “unfair advantage”.

      • The Stranger says:

        Are Executive Washrooms still a “thing” or did they go the way of the 3-Martini lunch? I’m always late to the party, I get into technical sales and not only are the Friday afternoon “customer lunches” a thing of the past (long time gone), but because of ‘Rona, we’re not doing in-person product training at our manufacturing plants or our national sales meeting.

        • A Proud Infidel®™️ says:

          Instead of “Executive Washroom” maybe I should have said “a Country Club membership”?

  11. ArmyATC says:

    Folks are screaming for a “free” college education? Fine! How about a “GI Bill” for national service? To receive it one must serve at least four years in national service with a government organization such as the military (which already has a program as we all know), FEMA, National Park Service, or similar.

  12. Hack Stone says:

    Have any of these politicians considered the impact that $50,000 worth of free college tuition will have on the “adult entertainment business”? As we all know, all of the people working as strippers are only doing it for college tuition. So if they don’t need to dance to pay for school, who will fill those open jobs. And let’s not forget how this will impact up and coming artists such as Hunter Biden.