In case you missed it, Elizabeth Warren is trying to perk up her sagging poll numbers by unveiling her “truly transformational” plan to eliminate the scourge of student loan debt:
Student loan debt is crushing millions of families. That’s why I’m calling for something truly transformational: Universal free college and the cancellation of debt for more than 95% of Americans with student loan debt. Read all about it here: https://t.co/IG9J5CiNb7
— Elizabeth Warren (@ewarren) April 22, 2019
Anyone with even a fundamental understanding of economics and how they work should have no problem seeing the flaws in Warren’s reasoning and policy proposals. Everyone else should just read this thread from author, entrepreneur, and CNBC contributor Carol Roth:
Thread/
Progressive Dems like Elizabeth Warren and Bernie Sanders seek to gain power and buy votes by addressing symptoms, not root causes of problems.The problem with college debt is several-fold. Colleges are “selling” educations that are more expensive than they are worth.
— Carol Roth (@caroljsroth) April 22, 2019
If people received jobs that validated the costs of those educations, they’d be able to pay it back with no problem.
Also, students and their parents are not understanding return on investment of education and taking out far too much debt via the product’s worth.
— Carol Roth (@caroljsroth) April 22, 2019
This is made worse by the government being willing to lend with no direct criteria (for example, loaning more for an engineering degree vs. a social work degree).
— Carol Roth (@caroljsroth) April 22, 2019
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Forgiving college debt on the tax payer’s dime does not address these problems and shirks personal responsibility, transferring it to other people. If there should be any responsibility transfer, it is to the colleges.
— Carol Roth (@caroljsroth) April 22, 2019
Let the colleges forgive the loans, since they sold ones that didn’t generate an ROI.
— Carol Roth (@caroljsroth) April 22, 2019
Then, get the government out of the lending game, make colleges have skin in the game, increase education and transparency on ROI of education debt and debt in general and allow loans to be tied to relevant factors (GPAs, degrees, etc.).
— Carol Roth (@caroljsroth) April 22, 2019
The same goes for healthcare. We need to address the cost of healthcare, not just try to make it “free”, which we know will ultimately bloat costs and decrease quality.
— Carol Roth (@caroljsroth) April 22, 2019
Here’s a quick quiz. How much do you think it costs for the following procedures on average?
Lasik surgery?
Breast augmentation?
Knee replacement?— Carol Roth (@caroljsroth) April 22, 2019
Lasik-Less than $2k an eye
Boob job-$3700 (less than $2k a boob)
Knee replacement-$49,500 per knee (around $100k for both knees)Guess which is covered by health insurance and which aren’t?
Allowing for competition, transparency and having the recipient pay brings costs down— Carol Roth (@caroljsroth) April 22, 2019
We need to be addressing root causes of problems to find solutions, not throwing money at symptoms.
Someone who is such a "policy wonk" as Warren claims to be should understand that. Grandpa Commie of course doesn't care to understand that- it's not part of his grift.
— Carol Roth (@caroljsroth) April 22, 2019
And this is not just an indictment of Dems. The GOP has dropped the ball and not been able to put a simple healthcare plan forward that could pass Congress in a decade, during which time they have bitched and whined incessantly. It’s an embarrassment for them.
— Carol Roth (@caroljsroth) April 22, 2019
At the end of the day, we don’t need bad solutions; we need free market solutions. Competition and transparency brings prices down and quality up. Interference with those forces drives prices up and quality down.
— Carol Roth (@caroljsroth) April 22, 2019
Can she get an “amen”?
This is a good rational thread, don't know your political leaning but thank you for this.
— Alexa* what time is it? (@2019isstupid) April 22, 2019
I try to focus on principles vs. parties and politics. 🙂
— Carol Roth (@caroljsroth) April 22, 2019
That's a refreshing focus!
— Alexa* what time is it? (@2019isstupid) April 22, 2019
Indeed.
I love this thread and this is why I follow you. This is not a republican / democratic discussion. This is a systematic failure on both sides and it is getting out of control
— Chris Brooks (@cbrooks1113) April 22, 2019
More government involvement won’t solve these problems, but it will definitely exacerbate them and create countless new ones.
Great thread.
— Cindy Rekoon (@PopNFood) April 22, 2019
This is excellent insight….
— Tony Jones (@wajones99) April 22, 2019
Fantastic, thank you!
— Milwaukee Paint-Shaker? (@Cemoto78) April 22, 2019
Where have you been all my life?
— Toast (@Toastcat4618) April 22, 2019
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