Yesterday, Fox’s Bulls & Bears panel discussed Sen. Elizabeth Warren’s $51 billion student loan plan. The plan “would lower interest rates on most federal student loans below 4%, reducing millions of Americans’ bills by hundreds of thousands or thousands of dollars a year” according to Mother Jones. But leave it to a Fox News pundit to find a way to demonize that.
Regular Tracy Byrnes complained, “If we want to do right by our kids, then stop handing out free money to them. Stop it, because all that is doing is allowing colleges and universities to raise tuition hand over fist because they know these kids are going to keep getting more money. We’re just feeding the drug addict here. This is all we keep doing, and a bailout is not going to solve the problem.”
It's one thing to disagree with a plan but to say that helping college students with their loans is like feeding a druggie?
Later in the segment, panelist Jonas Max Ferris explained that there’s no real bailout but a plan to lower the interest rate and reduce the spread between the cost to the government of borrowing money and the amount it charges students. So Byrnes piped up, “But to tax the rich to pay for this? I mean, come on!”
Maybe that’s her real gripe.