Elizabeth Warren Needs You To Help Her "Blow Debt Free College Wide Open"

Tyler Durden's picture

In “Cancel All Student Debt — The Petitions Begin,” we outlined The White House’s plan to explore “new bankruptcy options” for former students who, by virtue of an anemic US economic “recovery” or by virtue of their having majored in a subject that was exceedingly unlikely to land them a good job in any economy, find themselves in dire financial straits. On the heels of that, the calls began for the government to simply “cancel” the country’s $1.3 trillion student debt pile. Here, in what is a classic passage, is how we assessed the situation:

Sure, why not: leaving aside the very touchy topic of personal responsibility and accountability, in a world in which record debt is merely "replaced" by even more debt, and in which profits are privatized but losses are always socialized with taxpayers and future generations bearing the brunt in the form of a record $18.2 trillion in public debt (and some $7 trillion more if one adds the government-backed GSEs which one should), why not go ahead and "cancel" the debt. And don't bother trying to explain the simple math that debt is never cancelled, as every liability is someone's asset, and that asset holder will demand to be made whole in the form of more debt elsewhere or else, like Hank Paulson in 2008, it will scream mutual assured destruction and threaten to blow up the world unless bailed out.

Since then we’ve gone on to elaborate on the math behind underreported delinquency rates and taken an in-depth look at IBR, the “dirty little secret” that could end up costing taxpayers billions over time. 

Finally, we highlighted a plan by Presidential candidate Bernie Sanders which would tax stock trades in order to make college free for everyone.

In the (perhaps misguided) spirit of free college for all we bring you the following from Senator Elizabeth Warren who wants you to “stand with her” to make “debt-free college” a reality.

Stand with Elizabeth Warren: Support debt-free college


Join Campaign For America's Future and support Brian Schatz, Elizabeth Warren, Raul Grijalva, Keith Ellison, and other progressive leaders in Congress to get the debt out of college. These progressive champions are launching a new resolution to build support for debt-free college:

 

"Resolved, that Congress supports efforts to ensure that, through a combination of efforts, all students have access to debt-free higher education, defined to mean having no debt upon graduation from all public institutions of higher education."

 

Our goal is simple: Get Congress on record in support of debt-free college and spark a movement to make it a reality. This resolution can be the start of something big -- but we need your support to blow it wide open. Are you with us?

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Anyone who has ever dreamed of "blowing something wide open" with Elizabeth Warren can do so by clicking here.

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ZippyBananaPants's picture

If someone wants to blow something, I'm in!

remain calm's picture

We are doomed. What kind of ass holes vote an Elizabeth Warren into office? Look dumb fuck voters of the USSA, someone voted that dumb cunt into office so she could promote these dumb fucking ideas. You get what you deserve and you can only thank yourselfs. This will only resolve with a crisis and then a revolution.

Stackers's picture

Hey Beth, the program is already up and running for decades now.

It's called .... Get A Job.

James_Cole's picture

Free education? Fuck that, dump a few more trill into that sandpit ISIS / Cartoon group whatever the fuck US&A enemy du jour. I hear it's been workin' real great for the past fifteen years. 

MiguelitoRaton's picture

Some of that student debt went to pay her outrageous salary as a professor. Shall we assume she will pay all of that Daley back with interest to do her part?

vie's picture

Yes.  The problem is not enough people going to college...  We need more people going to college, so they can work as bar tenders and pizza delivery men.

Gobbler's picture
Gobbler (not verified) vie May 28, 2015 11:15 PM

Elizabeth is my baby.  She's the only politician I know--except Bernie Sanders--who despises Wall Street.  You want to see bankers put in jail?  Then vote for her.  Elizabeth for President.

jbvtme's picture

a free ride for the future know-it-all collectivist bureaucrats who will micromanage every detail of your socialized lives.  need to come in out of the rain?  "we have an app for that"...

Silver Bul's picture
Silver Bul (not verified) jbvtme May 29, 2015 5:01 AM

I have always thought that education was one of the next big bubbles, but was wondering what might push it into the stratosphere. That next level which bubbles always fall from, I think this will do.  I don’t think I will have to save much for my 2 year old daughter to send her to collage, it will pop by then. 

Go Liz, the only way we can prove this socialist BS wrong is to cause our system to break and crash!!!  More free stuff with no way to pay for it please.

Vagabond's picture

We already have mostly free education, it's called the Internet.  Get into the 21st century Elizabeth... college degrees are nothing but a piece of paper.

Georgia_Boy's picture

"Our goal is simple: Get Congress on record in support of debt-free college and spark a movement to make it a reality. This resolution can be the start of something big -- but we need your support to blow it wide open. Are you with us?"

My response also is simple: What are you going to do to about the out of control costs?

Took Red Pill's picture

George Carlin says it best.  Here he is on education and politicians;

https://www.youtube.com/watch?v=hYIC0eZYEtI

 

yellowsub's picture

Yeah well, obviously the majority has taken his political rants during his stand up as nothing more than entertainment value.  

 

Omen IV's picture

The bankers got a - get out of Jail Card..... free

thamnosma's picture

You Marxists suck even more than those bankers. Hell, you can't even get laid at Komsomol camp.

SilverFish's picture

You dum dum. I don't know who is worse..........these fools that talk about a world where everything is free and nobody demands payment for the work they do, or the fools who follow them.

 

Bernie Sanders??? The guy who thinks it's bad that there are 29 different kinds of deodorant available, when there are starving children in the US, as if lowering the varieties of deodorant would somehow shift more money towards food for hungry people? The guy has no fucking clue what he's talking about. It's like he sees a problem for what it is, then turns around and calls for more of the same thing that caused the problem in the first place.

 

What Warren and Sanders need to realize, is that although Wall Street is corrupt and able to fleece the taxpayer so easily, it's only because the government set the game up to allow them to do it.

James_Cole's picture

What Warren and Sanders need to realize, is that although Wall Street is corrupt and able to fleece the taxpayer so easily, it's only because the government set the game up to allow them to do it.

Newsflash, wall street = government in the US. 

It's the same shit in any banana republic / 3rd world country - governments are controlled by the elite families. When the government is not controlled by a small group of concentrated financial interests it tends to work better for the people. See: history. 

SilverFish's picture

It still goes back to government having the power to make the rules you live by in the first place. As long as that exists, the uber wealthy will always find a way to get what they want, either by completely taking it over directly, or just by paying off the elected officials and watching from the sidelines. Either case......they get what they want.

When the legislators set the rules for buying and selling, the first thing to be bought and sold are the legislators.

James_Cole's picture

It still goes back to government having the power to make the rules you live by in the first place.

You're missing my point. Would you really call the assad family a 'government' in the sense that the US has a 'government'? Yet all economy flows through them and their 'rules.' Uzbekistan has a problem with government regulations or autocratic ruling elite + allied business interests? 

Whatever group has concentrated economic power writes the 'rules' everywhere in the world, only bulwark against this is a equilibrium power on the other side (i.e. government by the people). 

When the legislators set the rules for buying and selling, the first thing to be bought and sold are the legislators.

The TPP is being written by (un-elected non-government) corporate lobbyists, as a lot of law seems to be. Legislators get to vote up or down depending on how much cash has been stuffed in their pockets but they don't write the laws. In other countries with this issue it's more explicit, the legislators being entirely symbolic - the rulers do what they want all the time. In the US it's just most of the time.  

mtl4's picture

She is the biggest darn marxist going and the whole bankers in jail thing is just a complete smokescreen for her agenda........Elizabeth, you need to stimulate small business, not just transfer student debt onto the .gov books.

Ward cleaver's picture

LMFAO, yeah free education to go with our new free shit credo financed by the non stop printing machine. How these assholes think more kids going to college helps is incredible. My future daughter in law just had her wedding dress altered, cost $900. I had my stairs repaired by a bricklayer, cost $3,500. Why don't kids look to trades other than college? Oh yeah, they're all going to write a killer app or start a hedge fund and become zillionaires without working. Lord I'm glad I'm 60 and not 20.

Ignatius's picture

Yes, let's not divert funds from the critically important, trillion dollar War on Terror.  Who will put their hands down my pants at the airport if not a well funded TSA?  Who will listen and record all my calls and transactions, but a fully funded NSA?  Is $50 billion/yr really enough for the CIA to stop all the shoe and underwear bombers?  And the military?  Personally speaking, I'm not done bombing and droning Iraq, Afghanistan, Libya and Syria, not as long as building or a peasant is still standing.  Who will stand with Israel and their extermination of the Palestinians if not a well funded Old Glory?

I say, kick out the last wobbly leg of an affordable education and upward mobility.  Hey, the Chinese need jobs too, so we may as well send the rest of what's left of our manufacturing jobs to Asia, as our rulers would most definately approve.

 

Ajax_USB_Port_Repair_Service_'s picture

Remain Calm is getting down votes from people that want you and me to pay their loans. No thanks! Pay your own damn loan! Nobody forced you to take the money. YOU SIGNED THE DAMN CONTRACT! PAY UP! Oh, got excited there. Gotta remain calm. Ohmmmmmmmmmm

Kiwi Pete's picture

You didn't mind borrowing for the entire cost of the Iraq war. So why don't you pay that back?

ThroxxOfVron's picture

Grandma has a cookie for you!

-Just don't ask who she stole it from!

StychoKiller's picture

Meh, it would work, but ONLY if Professors and Administrators teach/administrate for FREE! :>D

rubiconsolutions's picture

Hey Liz..who pays for all this? Just curious because the last time I looked outside there was no money growing on my trees.

Freddie's picture

They don't care.  Colleges are the biggest scam.   Their buddies are all tenured professors.  College is the new new welfare.   The stuff that goes on in govt research grants wastes hundreds of billions.  The public has no idea.  This is at all colleges including premier research insitutions.   Much of the research is garbage but this is easily solved as they are endlessly churning out new grant requests for something else.

It is criminal what goes. on.

Buckaroo Banzai's picture

College has grown into a world-class scam. Here's a scathing indictment of NYU-- published by annoyed members of NYU's own faculty!-- about what a swindle that University has turned into. Of course, as the saying goes, "you can't con an honest man", and in this case, the marks (students and their parents) are completely deluded and probably deserve what they get.

“A real estate development/management business with a predatory higher-education side venture.”

Angry Faculty Savage New York University

thamnosma's picture

Thanks for that! Got my BFA from that place. Later in life I worked for a college in California I described in almost those exact words. Probably applies to many of them.

fallout11's picture

Also, consider the perverse incentivization at work with Warren's suggestion:
When everyone has a free college degree, what exactly will be the value of said degree?
Value largely derives from scarcity (and utility, but we'll skip that part for now). This will make a degree as useless as a high school diploma.
America does not need more college educated fry cooks, cashiers, bartenders, coffee pullers, waitresses, or store clerks..... 

http://www.zerohedge.com/news/2015-05-28/what-happens-when-millennial-tr...
"College degrees (even graduate degrees) have become so commonplace (thanks in part to the proliferation of student loans) that they are no longer sufficient in and of themselves to guarantee their holders will find good jobs." - Newsweek Magazine

Dewey Cheatum Howe's picture

A lot of Universities are also nothing more than public sector tentacles of DARPA so they operate just like a government agency since the money flows nonstop for most research projects regardless of merit. AT least the original intent was firewall R&D from the real economy with the payoff down the road after the students working on the R&D implemented it in the real world. Universities got greedy and pocketed the subsidies and loaded up the cost of doing business on the students. Now add in the fact humanities including psychology was monopolized by certain agencies (the second the propaganda matrix and devolution became prioritized over evolution) from tech you see the schism in real time and real world happening before everyone's eyes in what one calls the 'economy'. Delusion is not education and institutions feed delusion.

MIC complex is probably the biggest subsidizer of 'public' education.

The minute they removed the firewall between fantasy land and reality putting the all seeing Ai(eye) in charge of everything all the current problems started from education right down to the 'real' economy. At least prior you could localize and isolate problems like these when they started to happen.

Dewey Cheatum Howe's picture

Since people around here want to hang banksters by lamposts, don't forget to also include whole entire humanities departments at these universities. The linguists, cognitive behaviorists, psychologists along with the computer science departments are some of the biggest collaborators in the devolution of humanity through their direct contributions to the propaganda matrix.

WOAR's picture

Pay for what? If the education isn't providing a purpose (i.e. getting you a job, that requires qualified personel), then it is essentially worthless.

Simply stop paying the schools for tuition, period, and shut them down.

The forced scarcity of degrees afterwards will cause Bachelor's/Associate's degrees to become worth something again.

Achilles Heel's picture
Achilles Heel (not verified) WOAR May 29, 2015 2:20 AM

Beer Pong is expensive

StychoKiller's picture

Speaking from experience are ya?

fascismlover's picture

What happened to this woman?  Is this how fast people are corrupted there?  She used to be a person.  Now she is just like any other automaton there.  I didn't doubt it would happen but I am surprised at how fast it happened...this is just the latest example.  I am guessing the real Liz is in the witness protection program somewhere or worse.   

Buckaroo Banzai's picture

She was never a "person", she's always been a lying sack of shit, you just didn't realize it until now. She was a lying sack of shit the day she claimed she was American Indian to help her get into college. Princess Lie-awatha, Princess Faux-cahantas... she can go fuck herself. I would have had more respect for her if she just came out and said, "Sure, I lied about being an Indian-- so what? What's wrong with taking advantage of racist admission policies? Fuck 'em if they can't take a joke!" But no, she denied everything. Fuck her and the birchbark canoe she paddled in on.

fascismlover's picture

You are correct but I did agree with some of what she said at one time.  That time is no more.  I guess if you start from the very beginning of a person and do not ignore those things, no matter the current message, it was pretty much inevitable where we are now with her.  Her and every other lying pos in any position of power today (or in any day).  Evil bubbles up..always.

thamnosma's picture

Just because someone hates bankers doesn't make them your friend. Communists are dangerous lying fucks.

buzzsaw99's picture

moar free shit, YAY!

Freddie's picture

Fix a wrecked economy and no jobs for kids, caused by big govt and endless corruption, with more big govt. 

stormsailor's picture

yeah, let everybody go to college free 7 years after i paid for my last childs college education.  god damn my fucking luck.  

Miffed Microbiologist's picture

I hear you. My eldest just paid off her loans after 3 years of very hard work and living very frugally. Part of me is proud but I do feel I have raised a kid to be responsible in a world where this is no advantage and, in some cases, personally detrimental.

We instilled the idea of debt as slavery to our kids. To be avoided if possible but if needed, used properly and responsibly. Sound advice in a sane world but now? I really don't know if I did the right thing anymore.

Miffed;-)

stormsailor's picture

know your thoughts very well, i raised my children as an eagle scout, citadel grad, navy officer.  do not lie,cheat,steal, nor tolerate those that do.  work hard, study hard, stand on your own feet. you are the captain of your ship and your hand guides the tiller, etc. etc. etc.

 

but i sometimes think i have hobbled them in the world we now live.

 

they pay and everyone else skates along for nothing and i sometimes feel anxiety about how i raised them, and what i put into them.

you enjoy myself's picture

unforunately, you know its coming.  there's a reason the feds hijacked the student loan market from private industry.

ThroxxOfVron's picture

"yeah, let everybody go to college free 7 years after i paid for my last childs college education.  "

 

I think the fact that you actually came up with the money to pay for college has been duly noted by Mx Warren.  

See: Liz needs votes -and you are good at paying for stuff other people need!

Farmer Joe in Brooklyn's picture

We are truly going full retard.

But, hey, what's a few more trillion..??

The numbers are so mind-bogglingly big that I can almost understand (not forgive) the average American's apathy towards our exponentially-rising national debt numbers.