Total outstanding student debt now stands at $1.65 trillion dollars.
But the solution is all too simple for Bernie Sanders. He tweeted in response, “We should cancel it.”
That’s the solution, just cancel $1.65 trillion dollars of debt. What could go wrong?
The idea that you can just solve this problem by canceling the debt shows how clueless these people really are. Pretty much “sling-blade” mentality.
Student debt is the number one financial asset of the federal government. There is no bigger money maker in the asset column or the government’s balance sheet.
And in case you missed it, the government isn’t in great financial shape. At $22 trillion dollars, the national debt is larger than the entire US economy.
Cancel the student debt, and you’re wiping away a trillion dollars that the taxpayers will have to pay for.
That’s bigger than the direct costs of the Iraq war. It’s bigger than the 2008 TARP bailout.
The whole thing is really a sad state of affairs. But countless people will buy into Bernie’s two-word solution… cancel it.
Sonia Rina Landry is a passionate entrepreneur, speaker, author, and personal development coach. She is an outspoken advocate of the free market economy and has helped countless clients identify their core values, envision and realize goals that resonate with those values. She oversees several businesses online and offline.