nearvideo bill Bennett on the Democrats’ proposals on school, student loans, a debt repayment.
In the year 2020 Democratic presidential hopefuls reveal their plans to tackle the student loan crisis, the Former education Secretary, Bill Bennett Monday argued against the concept of the elimination of college debt.
In the year 2020 Democratic presidential hopefuls reveal their plans to tackle the student loan crisis, the former education Secretary, Bill Bennett Monday argued against the concept of government measures for the abolition of the college debt.
Bernie Sanders announced on Monday that he hopes to cancel the $1.6 trillion student loan debt in America, and the introduction of a tax on stock-bond-and derivatives-to make trades, to take stock. Elizabeth Warren’s legislative proposal also includes loan forgiveness, with the exception that the borrowers with a household income of more than $250,000.
“I don’t think it’s good business or good policy,” Bennett, who served as education Secretary under President Reagan, said on “America’s Newsroom.”
“The problem began in the year 2007, it is sorry to say, during the Bush administration, when we moved from the private sector to the government,” he said. “The government has largely in this mess. Now you are going to try to solve it? I don’t think so,” he continued.
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He added that the plan “regressive” and a “bad idea.”
“My argument is, the more Federal aid or government spending, the higher tuition is going to go,” Bennett said. “Suppose we make college free for everyone, what are you, what is the first thing to do universities think? Increase in the tuition fees once again”, he continued.
Sanders has proposed a tax plan on financial transactions, he predicts, will be reported to the procurement of more than $2 trillion in the next ten years, Forbes. But to beat Bennett up against the idea of college, “free” because of the tax.
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“These are people who invest money in IRAs, people who save money, and the employer,” he said. “It is not free. It comes from the consumers and citizens to hide.”
Bennett dismissed the possibility that the plan, which Sanders led the morning in a speech on Monday, would ever become law.
“President Trump was supposed to shoot to be able to you pretty easily,” he said.