‘Game of Loans’ author denounces Bernie Sander’s proposal to eliminate student loan debt

‘Game of Loans’ author denounces Bernie Sander’s proposal to eliminate student loan debt


WHOLE COUNTRY TALKING. TODAY DEMOCRATIC PRESIDENTIAL HOPEFUL BERNIE SANDERS IS EXPECTED TO PROPOSE ELIMINATING ALL $1.6 TRILLION OF STUDENT DEBT IN THE U.S. ABC7 NEWS.COM/VOTE. GO THERE AND LET US KNOW WHAT YOU THINK OF THE IDEA.>>WE HAVE BEEN ASKING ALL, MO, IS THAT EVEN POSSIBLE? JOINING US VIA SKYPE TO HELP ANSWER THAT QUESTION IS THE AUTHOR OF GAME OF LOANS. BETH ACRES. HIGH BETH. THANKS FOR BEING THERE. >>HI. THANKS FOR HAVING ME. >>I NOTICE YOU HAVE STRONG OPINIONS ABOUT BERNIE SANDERS’S PROPOSAL. WHAT DO YOU THINK?>>WELL, UNFORTUNATELY, I CAN’T BE AS ENTHUSIASTIC ABOUT THIS PLAN AS I THINK A LOT OF OTHER PEOPLE ARE TODAY. IF I AM A YOUNG PERSON GRADUATING WITH STUDENT DEBT — WE KNOW 70% OF PEOPLE WHO FINISH COLLEGE HAVE STUDENT DEBT OR THE PARENT OF A STUDENT WITH STUDENT DEBT I AM GOING TO BE EXCITED. AS I AM LOOKING AT THE BIGGER PICTURE WHAT I LIKE TO POINT OUT ABOUT THESE SORTS OF PLANS IS THEY ARE GIVING A LOT OF BENEFIT THAT’S GOING PAID FOR WITH TAXPAYER DOLLARS TO PEOPLE WHO PROBABLY NEED IT THE LEAST. SO PEOPLE WHO HAVE COLLEGE DEGREES IN THIS COUNTRY ARE AMONG THE MOST WELL OFF. THEY ARE A MINORITY IN HAVING THE PRIVILEGE OF HAVING A COLLEGE DEGREE. WE KNOW THAT COLLEGE DEGREES ALLOW PEOPLE THE ACCESS TO HIGH EARNINGS AND IT IS THAT HIGHER EARNINGS THAT JUSTIFIES THEM BORROWING IN THE FIRST PLACE. WHILE THERE ARE DEFINITELY PEOPLE WHO ARE STRUGGLING WHO WILL BENEFIT FROM LOAN FORGIVENESS PROPOSAL WE NEED TO BE COGNIZANT THIS IS A LOT OF MONEY TO SPENT ON A PLAN WHERE THE BENEFITS ARE NOT TARGETED PRECISELY TO THE PEOPLE WHO NEED THEM THE MOST. >>BETH, I TOTALLY UNDERSTAND WHAT YOU ARE SAYING HERE AND I UNDERSTAND YOUR VIEWPOINTS ON THIS. DO YOU THINK THIS IS EFFECTIVE AS A POLITICAL MOVE WITH 45 MILLION PEOPLE IN AMERICA WITH STUDENT LOAN DEBT, WHETHER THEY WILL EVENTUALLY BE ABLE TO PAY IT OFF OR NOT? DO YOU THINK THIS IS GOING TO APPEAL TO VOTERS WHO SAY, HEY I HAVE GOT $50,000 IN DEBT. I CAN PAY IT, SURE, BUT I DON’T WANT TO. HE HAS MY VOTE.>>YEAH, I THINK THERE IS NO DOUBT THAT THIS IS A GOOD MOVE POLITICALLY FOR BERNIE SANDERS. SO RECENTLY SENATOR WARREN ENDORSED A STUDENT LOAN JUBILEE PLAN THAT GAVE BROAD FORGIVENESS TO PEOPLE WITH STUDENT LOBE DEBT. IT WAS NOT AS GENEROUS AS THE ONE THAT SANDERS ENDORSED TODAY. I WAS EAGER TO FIND OUT WHAT PEOPLE THOUGHT OF THAT WHEN THE POLLING NUMBERS CAME OUT. I THOUGHT FOR SURE PEOPLE WITH LESS EDUCATION WHO WERE LESS WELL OFF WOULDN’T BE SUPER KEEN ON THE PLAN BECAUSE AS I SAID BEFORE IT IS GIVING BENEFITS TO PEOPLE WHO ARE ALREADY DOING PRETTY WELL. I WAS SURPRISED TO SEE THAT MORE THAN 50% OF VOTERS WERE SUPPORTIVE OF A BROAD BASED STUDENT LOAN FORGIVENESS PROPOSAL. AND EVEN PEOPLE WHO HADN’T GONE TO COLLEGE THEMSELVES THOUGHT IT WAS A GOOD IDEA. I THINK IT SHOWS IS THAT THE WAY WE TALK ABOUT STUDENT DEBT IN THIS COUNTRY HAS PEOPLE REALLY SCARED ABOUT WHAT THE INDIVIDUAL IMPLICATIONS ARE GOING TO BE, WHAT THE IMPLICATIONS ON THE BROADER ECONOMY ARE GOING TO BE, AND THEY SEE THIS AS A GOOD SOLUTION. I THINK THAT DEMOCRATS ARE PROBABLY MAKING THE RIGHT MOVE IN TRYING TO APPEAL TO THAT CONCERN.>>YEAH. IT SEEMS LIKE JUST ABOUT EVERY DEMOCRATIC HAS A STRONG OPINION ABOUT THIS. AND MOST OF THEM HAVE A PLAN. I THINK BETH IS RIGHT. IF THIS IS THE WAY THEY ARE GOING TO GO, AND IF WE GET A DEMOCRATIC PRESIDENT IT IS LIKELY WE WILL

12 thoughts on “‘Game of Loans’ author denounces Bernie Sander’s proposal to eliminate student loan debt

  1. This author is just a troll claiming it isn't possible, but, it's possible to clear out the student loan.

  2. First of all, KGO – FUCK YOU.
    You stupid fuckers are once again, smearing a progressive idea because you are fucking paid shills for the corporation that owns the station. We all understand the narrative is to paint progressive ideas with the crazy paintbrush simply because it undermines your fuckhead company's ability to make money.

    Secondly, the stupid idiot you brought on is obviously some kind of a shill for corporate industry. The idea that this debt will BENEFIT ONLY A FEW PEOPLE is PATENTLY INACCURATE. She's fucking lying.
    The debt relief will help at least three generations of college graduates who are SUFFERING BECAUSE THEY CANNOT THRIVE IN THEIR CAREERS BECAUSE OF THE TREMENDOUS DEBT THAT THEY OWE. Insofar as helping the people it should be helping — listen to her 'logic'. It makes no sense. The debt relief is TO HELP EVERYBODY because this relief package is a PRELUDE TO FREE COLLEGE FOR ALL. The debt relief will EXACTLY HELP THE RIGHT PEOPLE because they are the ones who owe money to banks to finance their education. Realize that this debt currently CANNOT BE DISCHARGED AS BANKRUPTCY — IT'S NOT A REASON FOR BANKRUPTCY AS CLEARLY STATED IN CURRENT AMERICAN LAW. This act would mollify that policy by completely forgiving it. The borrower wouldn't get a bankruptcy on their credit report.

    Why the FUCK do you bring on guests like this? They are there clearly protecting corporate interests and your report absolutely does nothing to inform your viewers as to the viability of this bill. YES…you stupid fucks. IT IS POSSIBLE. The only reason why it is pie in the sky is YOUR FUCKING CUNT CORPORATE OWNERS TELL YOU TO PUSH THIS NARRATIVE. The ONLY thing this bill needs is the proper number of votes for it to pass.
    Chances are with this Republican administration, a vote tomorrow would not allow it to pass. But…there are more opportunities to get this bill passed in the future after the stupid orange president leaves office. The idea of debt forgiveness is now part of the consciousness of American people and will not go away.

    BAD FUCKING REPORTING KGO. This is why you cunts are down in the ratings. FUCK YOU.

  3. Use that money for the Reparations instead. $1.6 trillion divided by 42 million African American population is $38,000 per person. Why is Bernie against the Reparations? This student debt cancelation benefits mostly white middle class. Government shouldn't pay for somebody's personal debt. College grads will benefit from higher income than non-college grads. It's very very unfair.

  4. This author's whole point is, degree holders have the potential to make money. So, lets burden them with debt. The debt is real & money making potential is just what it says, its just potential, not real

    Other than that, it hides quite a lot of other variables

    1. Why should the banks make money in the process of students taking debt? Banks are borrowing this money directly from Feds. If so, we do you need the middleman taking cut from every student?
    2. What if the market is down & your degree is worthless?
    3. What if the market doesn't need your skills as almost everything is being automated?
    4. What about the cost on society of having large chunk of uneducated people because they cant afford education?

    Instead of burdening students with debt, How about this alternate strategy

    1. Give an opportunity for everyone to educated via free tuition
    2. Since, its free to get educated, you will have an extremely large pool of educated workforce
    3. Which will create even bigger larger pool of taxpayers as you have much larger educated workforce

    This second strategy created a virtuous circle unlike the current model, which is, screw students & enrich banks

  5. She is just living in alternative reality. Many people after college won’t be able to make the money. They have to work two three jobs sometimes . Teachers for example have to struggle for their everyday life let alone the high interest predatory student loans. Not everyone has the talent or interest to go to engineering school 😡😡😡😡

  6. I paid my loans off for my accounting degree 4 years ago at 29… took me 6 years… I paid for mine and I shouldn't have to subsidize someone else's women's and victims studies degree

  7. Why is it possible bail out the big banks for cheating people, but we can’t bail out the students? No one asked how we gonna bail the banks out. Smfh

  8. The fact that you start off by saying college is for the priveledged few in your own words, you totally lost credibility. Rich people ain't going to public colleges and universities in mass! They mostly go to private colleges. At least they responded to that nonsensical talking point by pointing out the scale of the issue, 45 MILLION AMERICANS! To minimize that is an absurdity

  9. I can't eat my degree, I need a job to do that and if what your saying is true I deserve a good job…

  10. It sounds like people are assuming we only have two options, subsidize loans or leave indebted students to drown. As with everything in life there are certainly more than two options if you put your mind to it.
    College tuition is hyperinflated and can be deflated. Supply and demand. Deflate excessive student loans (LOANS, NOT DEBT) and deflate tuition.
    It's not an easy or simple problem but it's made a helluva lot harder with all the sleight of hand in politics.
    You know which university advocates lowering tuition? PragerU

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