Democratic presidential hopeful Bernie Sanders is calling for a "revolutionary" plan to cancel college student debt –and as we previewed yesterday, he’s now unveiled his plan.
Speaking to reporters, the Vermont senator says an entire generation of young Americans “should not be sentenced to a lifetime of debt.” While the plan would strike one-point-six-trillion in debt for around 45-million Americans currently facing debt, it says nothing for millions more who paid back what they borrowed.
How would it get paid for? With a cost of $2.2-trillion over ten years, Sanders is banking on a tax on Wall Street financial transactions. Sanders argues that the American people bailed out Wall Street during the 2008 financial meltdown.
Source:Wall Street Journal