Worried Warren Makes New Promise: Cancel Student Debt on Day 1

Pocahontas is getting worried it seems, and out of that worry comes desperation.

Senator Elizabeth Warren made a new campaign promise on Tuesday in which she vows to cancel student debt by way of executive order on day one of her presidency, if elected.

She conveniently made her new promise mere hours before the Democrat debate was set to start in Des Moines, Iowa.

The presidential hopeful wrote in a Medium 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,” adding that she will use “existing laws” — AKA Higher Education Act — in order to carry out her plan that she claims will help 42 million Americans.

The future of our economy and the lives of a generation of student loan borrowers are at risk, and I’m committed to seeing this fight through no matter what,” she added.

Her plan reads:

I’ll direct the Secretary of Education to use their authority to begin to compromise and modify federal student loans consistent with my plan to cancel up to $50,000 in debt for 95 percent of student loan borrowers (about 42 million people).

I’ll also direct the Secretary of Education to use every existing authority available to rein in the for-profit college industry, crack down on predatory student lending, and combat the racial disparities in our higher education system.

How does she plan to pay for the cost of her proposals? Why, a new tax, of course! Behold the “Ultra-Wealth Tax,” ladies and gentleman. She believes her proposed tax will cover universal child care, universal pre-k, and free college tuition.

How is that fair, you may ask? It isn’t! Leave it to a Democrat to lobby for more taxes to pay for the “free” stuff that won’t even be used by everyone.

Warren said during a CNN town hall meeting last year, in New Hampshire:

We’re going to roll back student loan debt for about 95 percent of students who have debt. That’s part one. And part two is to make sure that we never get in this mess again on student loan debt and that is to make college universally available with free tuition and fees and to put more money into Pell grants so that students of color, so that our poorest students have real access to college and that we put real money into our historically black colleges and universities.

I wonder if this has anything to do with the fact that her rival, Senator Bernie Sanders, has also proposed to “cancel all student debt” via “imposing a tax on Wall Street speculation.”