In a February 2021 presser organized by an advocacy group called Student Debt Crisis, Chuck Schumer and Elizabeth Warren feigned outrage that “the government is making profits off of our students”. Schumer expressed shock over the 7% interest rate, which the government is charging. He said, “The president can fix this in the flick of a pen and eliminate anguish for 44,972,000 people”. Outraged, he continued, “The student loan debt time bomb could throw millions of families over a financial cliff.” At that time, the current total of current loans was $1,562,042,944,000.
While 7% is outlandishly high for either private or government loans, especially during a pandemic, how is it possible that Schumer and Warren are suddenly shocked about the total cost of any government project? They have both been around forever! And, they are just now noticing this little $$-trillion glitch? Or, are they of the opinion that to pay-off school loans will provide another 44,972,000 happy, pro-Democrat voters for 2022?
