Democrats dissembled about the costs of their student loan takeover in 2010, and now they’re deceiving Americans about their drive for student debt cancellation. But South Carolina Rep. Jim Clyburn, a member of the House Democratic leadership, gave away the game over the weekend.
Progressives seem to have figured out that sweeping student loan forgiveness isn’t popular with Americans who didn’t go to college or who repaid their loans. Hence they now say that canceling $50,000 per borrower will be a boon for the working class. Sen. Elizabeth Warren says 40% of borrowers with student loan debt never completed college. If she were a company, the Federal Trade Commission could sue her for false advertising.