A PayScale survey of 248,000 people reported that “two-thirds of employees report having regrets when it comes to their advanced degrees.” The number 1 regret was student loan debt. Although it may seem obvious that decisions which led to huge amounts of debt would be highly regrettable, what is not obvious is how it can determine our next President.
CBS News identifies “the findings illustrate why education loans burdening millions of Americans have become a hot-button issue among some Democratic presidential candidates.” Democrats are the party of taking from the rich and give to the poor, so a candidate appealing to those who are part of the $1.6 trillion nationwide student loan debt can be quite powerful.
Just this week democratic presidential candidate Bernie Sanders proposed a plan to “impose a tax on Wall Street trading and use the proceeds to erase that $1.6 trillion of debt.” This is a dangerous promise for Republicans. It’s easy for Sanders and other candidates to make promises by appealing to the empty pockets of voters. There does not have to be any validity or truth to the empty promise. All voters need to hear that one of their most tremendous burdens will vanish in the blink of an eye. That is a powerful lie that translates into votes.
The numbers are unambiguous: “about 70% of college students graduated with student loan debt this year, averaging about $33,000 per student.” College graduates are of legal voting age so if 70% believe all their woes will be solved at the drop of a ballot, we are in trouble. The article also says it’s not just new and recent graduates but also “baby boomers are taking on student loan debt either to help cover college costs for their children or to retrain themselves for a workplace transformed by increased automation, cloud computing, and other labor-saving technologies.”
Democrats seem to be more concerned about getting jobs for illegal immigrants than their own constituents, forcing them to rack up debt. Additionally, CBS reports that “some Americans age 62 and older are using their Social Security benefits to pay off more than $86 billion in unpaid college loans.”
Republicans better be prepared to combat the persuasive “free money for all” platform liberals love to lean on.