YOU’RE OUT OF LUCK.
ELIZABETH: HILLARY VAUGHN, GREAT
REPORTING, THAT SO MUCH.
WITH US CONGRESSWOMAN NANCY
MACE, ME TOO ARNOLD WITH THE
ASSOCIATION OF SCHOLARS.
THANK YOU FOR BEING ON.
CONGRESSWOMAN, IT’S A FULL TIME
JOB TRACKING THE PRESIDENT’S
WHOPPERS AND MISTAKES.
HE SAYS THE DEFICIT IS COMING
DOWN.
IT IS COMING DOWN BECAUSE
PANDEMIC SPENDING PROGRAMS BY
THE GOVERNMENT ARE GOING AWAY.
WHAT DO YOU MAKE OF THE BIDEN’S
BAILOUT OF THE STUDENT DEBT FOR
THE UPPER BRACKET?
>> JOE BIDEN IS POURING ON
GASOLINE ON THE DUMPSTER FIRE
THAT IS INFLATION.
IMAGINE THIS, ONE OF MY VERY
FIRST JOBS WAS A WAITRESS AT THE
WAFFLE HOUSE.
EVERY WAITRESS NOW ACROSS THE
COUNTRY WILL PAY UP TO $20,000
OF STUDENT LOAN DEBT FOR SOMEONE
GOING TO GRADUATE SCHOOL TO GET
MBA OR LAW SCHOOL OR COLLEGE OR
UNIVERSITY.
IT IS OUTRAGEOUS, MAKING FOLKS
BLUE-COLLAR WORKERS, HE WILL
HAVE THEM PAY FOR THE COLLEGE OF
OTHER PEOPLE IN THIS COUNTRY.
ELIZABETH: TO THE
CONGRESSWOMAN’S POINT, IT IS NOT
FOR "JOE THE PLUMBER."
MIDDLE CLASS JOE IS NOT "JOE THE
PLUMBER" RIGHT NOW.
IT IS NOT FOR ELECTRICIANS OR
HAIRDRESSERS WHO WENT TO TRADE
SCHOOLS OR AMERICANS WHO
VOLUNTEER FOR THE MILITARY.
WHAT DO YOU MAKE OF ALL OF THIS?
IT IS UNFAIR.
>> IT IS UNFAIR AND
UNFORTUNATELY DEBT FORGIVENESS
IS NOT GOING TO PREVENT FUTURE
STUDENT DEBT CRISIS.
IN FACT IT WILL ACTUALLY
INCREASE THE COST OF COLLEGE.
THAT IS BECAUSE STUDENTS WILL BE
EMBOLDENED TO BORROW MORE IN
STUDENT LOANS.
AS THEY BORROW MORE THEY MAY
EVEN DELAY PAYMENT BECAUSE WHY
PAY IT OFF?
YOU MIGHT AS WELL HAVE DEBT
FORGIVENESS AND FOR THE COLLEGES
THEY HAVE INCENTIVE TO INCREASE
THERAPY TUITION BECAUSE THEY
KNOW THAT STUDENTS CAN SIMPLY
TURN TO THE FEDERAL STUDENT LOAN
SYSTEM TO OFFSET INCREASES IN
PRICE.
SO REALLY THIS IS JUST UNFAIR
AND IT IS NOT RIGHT.
ELIZABETH: IT DOESN’T STOP FAT
CAT ACADEMIC GOUGING RIGHT,
TUITION GOUGING OF MIDDLE-CLASS
FAMILIES FOR THINGS LIKE
FIVE-STAR CAFETERIAS ON CAMPUS
OR, YOU KNOW, THESE EXPENSIVE
GYMS AND THE LIKE.
LET’S WATCH OUT THE PRESIDENT
WALKED AWAY FROM QUESTIONS ON
THIS ABOUT HOW UNFAIR IT IS.
WATCH A TAXPAYER ASKED THE SAME
OF SENATOR ELIZABETH WARREN.
WATCH THIS.
>> IS THIS UNFAIR TO PEOPLE WHO
PAID THEIR STUDENT LOANS OR
CHOSE NOT TO TAKE OUT LOANS?
PRESIDENT BIDEN: IS IT FAIR TO
PEOPLE WHO IN FACT DO NOT OWN
MULTIBILLION DOLLARS BUSINESSES
IF SIGH ONE OF THESE GUYS GET
ALL THE TAX BREAKS.
IS THAT FIR?
WHAT DO YOU THINK?
>> WHAT ABOUT PEOPLE WHO PAID
THEIR LOANS THOUGH?
STRUGGLE TO PAID THEIR LOANS AND
NOW OTHERS DON’T HAVE TO?
>> MY DAUGHTER GETTING OUT OF
SCHOOL.
I SAVED ALL MY MONEY.
AM I GOING TO GET THE MONEY
BACK?
>> OF COURSE NOT.
>> SO YOU’RE GOING TO PAY FOR
PEOPLE WHO DIDN’T SAVE ANY MONEY
AND THOSE OF US WHO DID THE
RIGHT THING GET SCREWED?
>> CANCELING STUDENT LOAN DEBT
IS GOOD FOR THE PEOPLE WHOSE
DEBT IS CANCELED BUT IT IS ALSO
GOOD FOR OUR ECONOMY AND THE
REST OF AMERICA.
ELIZABETH: HOW IS IT GOOD FOR
OUR ECONOMY IF OUR TAXES HAVE TO
GO UP TO PAY FOR IT,
CONGRESSWOMAN?
EVEN FORMER PRESIDENT OBAMA DID
NOT DO THIS?
>> WEALTHY ABOUT THIS, TAXPAYERS
ARE NOW GOING TO BE PAYING OFF A
STUDENT LOAN DEBT FOR STUDENTS
WHO OFTEN GO TO COLLEGES AND
UNIVERSITIES THAT ARE PAID FOR
AND SUBSIDIZED BY GUESS WHO?
THE AMERICAN TAXPAYER.
WHERE IS NANCY PELOSI IN ALL OF
THIS.
JUST LAST YEAR SHE SAID THAT
PEOPLE THINK THE PRESIDENT OF
THE UNITED STATES HAS THE POWER
FOR DEBT FORGIVENESS AND HE DOES
NOT, END QUOTE, NANCY PELOSI.
WHAT IS HER STATEMENT IN ALL OF
THIS TODAY?
HARD TO FIND BUT AGAIN THIS IS A
GOOD WAY TO GET VOTES IN
NOVEMBER.
ELIZABETH: ARE REPUBLICANS, ARE
REPUBLICANS GOING TO MOVE ON A
BILL TO TRY TO STOP THIS?
>> WELL I DON’T KNOW, I DON’T
KNOW WHAT THE LEGISLATIVE
PROCESS WILL BE TO PUT AN END TO
IT.
WE’RE IN MINORITY.
ANYTHING WILL BE STOPPED BY
DEMOCRATS LIKE NANCY PELOSI.
ELIZABETH: IF YOU TAKE BACK
CONTROL YOU MAY MOVE ON IT
RIGHT?
>> RIGHT.
IF WE HAVE DEMOCRAT CONTROLLED
SENATE THAT MAKES THINGS ALL THE
MORE HARDER TOO.
MEANS REPUBLICANS AND DEMOCRATS
HAVE TO WORK TOGETHER THAT
HASN’T HAPPENED IN LONG TIME.
ELIZABETH: NEAT FEW, DEMOCRATS
JASON FURMAN, ONE OF OBAMA’S
ECONOMIC ADVISE SOARS, THIS IS
RECKLESS, POURING HALF A BILLION
DOLLARS ON INFLATIONARY FIRE.
CAN YOU TALK TO US HOW THIS
DOESN’T STOP THE PROBLEM AT THE
FRONT END OF SOARING TUITION
GOUGING?
>> YES.
IT IS NOT PREVENTING INCREASES
IN TUITION AND THIS IS REALLY A
PROBLEM AND I THINK, WHAT WE’RE
NOT ADDRESSING HERE IS HOW TO
STOP THE STUDENT LOAN CRISIS AND
ONE OF THE WAYS WE CAN DO THAT
IS WE NEED GUARD RAILS ON WHO
SHOULD RECEIVE FEDERAL LOANS.
UNFORTUNATELY PUBLIC FUNDING
GOES TO PSYCHOLOGY MAJORS BUT
THE PSYCHOLOGY MAJORS DON’T END
UP WORKING IN PSYCHOLOGY.
I THINK WHEN IT COMES TO FEDERAL
STUDENT LOANS WE NEED TO
CONSIDER ACADEMIC MERIT.
WE NEED TO CONSIDER A
STUDENT’S --
ELIZABETH: YOU WAIT A MINUTE,
YOU KNOW WHAT WE NEED TO
CONSIDER?
RACKETEERING RICO CHARGES
AGAINST FAT CAT ACADEMIC
COLLEGES IN LOCKSTEP RAISING
TUITION AT THE SAME RATE ACROSS
THE BOARD.
THEY OPERATE ON THE TAXPAYER’S
NICKLE.
THEY’RE BUILDING WHITE ELEPHANT
FOOTBALL STADIUMS, FIVE STAR
CAFETERIAS WHERE THEY DON’T HAVE
TO PAY TAXES.
THEY HAVE ADMINISTRATIVE BLOAT.
ADMINISTRATORS OUTNUMBER
TEACHERS OFTEN 40 TO ONE.
THESE ACADEMICS SELLING USELESS
DEGREES PEOPLE CANNOT USE IN THE
REAL WORLD.
>> YES, ABSOLUTELY.
AND AT THE NATIONAL ASSOCIATION
OF SCHOLARS WHERE I WORK WE
WOULD LIKE TO SEE ADMINISTRATIVE
BLOAT REDUCED.
WHAT I ALSO WOULD LIKE TO SEE,
THIS WOULD HAVE BEEN PREFERABLE
WITH BIDEN’S DECISION TO FORGIVE
STUDENT LOANS, THAT THE COLLEGES
ARE HELD ACCOUNTABLE.
I WOULD HAVE WANTED TO SEE
COLLEGES PAY FOR EACH ONE OF THE
STUDENTS WHO BENEFITS FROM LOAN
FORGIVENESS.
MAKE THEM MORE RESPONSIBLE --
ELIZABETH: THIS IS THE HOTEL,
COLLEGES ARE USING THE,
CONGRESSWOMAN, THE HOTEL
BUSINESS MODEL.
THAT IS WHAT IT IS.
BLOWING OUT ROOMS, MEANING
DORMITORY ROOMS AND BLOWING OUT
COLLEGE CAMPUSES WHILE THEY’RE
BUILDING IT ON TAXPAYER NICKLES.
REDUCE THEIR TAX BENEFITS FOR
EVERY CENT THAT THEY RAISE
TUITION.
LISTEN TO KELLYANNE CONWAY ON
THIS.
WATCH.
>> OBAMA ECONOMIST LARRY SUMMERS
AND OTHERS ARE MAKING THIS
POINT, SEAN, YOU WILL MAKE
EDUCATION MORE EXPENSIVE BY
LETTING THESE COLLEGES KNOW THAT
OH, GEE, EVERY STUDENT BASICALLY
HAS EXTRA $10,000, LET’S TACK IT
ON FROM THE BEGINNING.
IN ADDITION TO THAT WE ARE
MAKING THINGS MORE EXPENSIVE
BECAUSE THEY CONTINUE TO SPEND
MONEY WE DON’T HAVE ON THINGS
THAT WE DON’T NEED.
LET ME JUST CONCLUDE WITH THIS,
I’M HOPPING MAD THAT WE HAVE AN
ENTIRE POLITICAL PARTY IN THIS
COUNTRY, THE DEMOCRATS, WHO
DON’T BELIEVE IN INVESTING IN
INTO OPPORTUNITY SCHOLARSHIPS,
SCHOOL CHOICE, CHARTER SCHOOLS,
EDUCATIONAL FREEDOM.
IF YOU WANT TO INVEST IN
EDUCATION FRONT-LOAD IT INTO THE
KIDS WHO HAVE BEEN SUFFERING
UNDER BIDEN’S POLICIES FOR TWO
YEARS.
ELIZABETH: IS THIS ONE OF HIS
WORST BLUNDERS EVER,
CONGRESSWOMAN?
>> AFGHANISTAN WAS PRETTY BAD
BUT IF WE’RE GOING TO HELP
STUDENTS WITH EDUCATION AND
PAYING FOR COLLEGE AND
UNIVERSITY, IF THEIR COLLEGE OR
UNIVERSITY IS GETTING SUBSIDIZED
BY THE GOVERNMENT THEY SHOULD BE
CAPPING TUITION WITH THOSE
STUDENTS.
THAT IS GREAT FIRST STEP.
THAT IS NOT HAPPENING.
ELIZABETH: SO IT’S A PRETTY BAD
BLUNDER, RATES PRETTY HIGH UP
THERE, RIGHT?
>> CORRECT.
ELIZABETH: OKAY, CONGRESSMAN