Elizabeth Warren is desperate to beat back her socialist competitors and win the Democratic nomination for president, so desperate in fact that she’s now promising to cancel student loan debt unilaterally, without Congress, on the first day she’s in the White House:
THE HILL – Presidential candidate Sen. Elizabeth Warren (D-Mass.) on Tuesday pledged to cancel student loan debt for 42 million Americans on the first day of her presidency by bypassing Congress and using an existing authority from the Department of Education.
Warren had already unveiled a plan to cancel up to $50,000 in loans for about 95 percent of student borrowers, but her plan, unveiled in a Medium post on Tuesday, details for the first time how she would accomplish it.
The presidential candidate said she would use the Higher Education Act, which gives the Department of Education “to modify, compromise, waive, or release student loans.”
“We’re facing a student loan crisis — one that’s holding back our economy and crushing millions of American families,” she said in her post.
“The Department of Education already has broad legal authority to cancel student debt, and we can’t afford to wait for Congress to act,” she added. “So I will start to use existing laws on day one of my presidency to implement my student loan debt cancellation plan that offers relief to 42 million Americans.”
“We can’t afford to wait for Congress to act…” Of course, because she knows Congress will never act to erase student loan debt. No, this is really just Warren’s desperate attempt to try and bribe millions of Americans to vote for her.
The problem is if she unilaterally canceled all of this student loan debt without Congress, who she needs in order to pay for this, I suspect it would probably collapse the entire borrowing system. Which is probably what she wants in order to force the hand of Congress to pay for free higher education. Which would then collapse America…