Former Reagan Adviser Slams Sanders’ Student Loan Plan: ‘If He Were Elected, We’d Be Living in Venezuela’

Mark Wilson/Getty Images

Former top Ronald Reagan adviser Art Laffer is knocking 2020 Democratic presidential candidate Bernie Sanders’ (I-Vt.) “crazy” proposal to forgive a hefty sum of student loan debt.

Sanders proposed on Monday student loan debt plan totaling $1.6 trillion for roughly 45 million Americans, as IJR News reported, looking to cover the cost by placing a tax on bond, stock, and derivatives transactions to raise $2.2 trillion over ten years.

“This proposal completely eliminates student debt in this country and ends the absurdity of sentencing an entire generation, the millennial generation, to a lifetime of debt,” the self-described Democratic socialist said. “The American people bailed out Wall Street. Now, it is time for Wall Street to come to the aid of the middle class of this country.”

However, Sanders’ student debt plan isn’t sitting well, as Laffer is taking a swing at it.

“This type of panhandling to people is just ridiculous,” Laffer told Fox Business, adding, “Bernie Sanders is guaranteeing that he can’t be elected and if he were elected we would be living in Venezuela.”

Laffer went on to blast Sanders as “way too old to be running for office now, and especially with these policies.”

Watch the video below:

Sanders was joined by Rep. Ilhan Omar (D-Minn.), as well as Reps. Pramila Jayapal (D-Wash.) and Alexandria Ocasio-Cortez, (D-N.Y.), at a press conference on Monday to address their proposal.

During the press conference, Omar suggested “student debt is not the result of bad choices or behavior,” instead it’s “the result of a system that tells students to get an education and go to college in order to have a stable life but then does not provide the resources to afford that education,” as IJR Red previously reported.

Omar was met with criticism for her remarks claiming some students who took out a large sum of debt for college should be covered when other students worked to pay off their college costs would receive nothing.

“Why is the debt of one person different than the debt of another?” one Twitter user wrote. “Why should someone who made sacrifices to pay off their own student loans or decided to forgo college be responsible for someone who didn’t?”

Additionally, Omar asked those on Twitter on Monday to “share what it would mean to you if we canceled all student debt,” however, as IJR Red reported, her question was slapped with criticism.

Sanders isn’t the only 2020 Democratic hopeful offering to forgive student loans, as Sen. Elizabeth Warren (D-Mass.) has proposed a similar plan to cancel 75% of Americans’ student loan debt.

What do you think?

newest oldest most voted
Notify of
Patti Harrison

I graduated from 2 schools and I paid back both loans because they were my responsibility, so why should we the taxpayers pay for your education, what are WE going to get out of it! All my brothers and sisters paid off their student loans by working through school!

Tom Bodine

Who has even doubted that the guy was nuts?, the democratic socialist line is communism 101 where you vote the guy with the AK 47 into power instead of him killing his way in.


I believe Bernie is a phony and half mad. But I will not forget Art Laffer snickering and laughing when Peter Schiff predicted the 2007 economic meltdown. Art Laffer…please.

Dave Hardesty

Perhaps the president could send Bernie on a three month diplomatic fact finding mission to Venezuela to show us how well Democratic Socialism is working there before the US decides it’s a good idea?


IF the Socialists are going to pay off all the student loans; how about paying off some/all home and business mortgages, car payments, etc. IF we’re going to be a Socialist sh**hole, “let’s do it up right” and something Venezuela can be proud of.

william jackson

Crazy Bernie


Pandering for votes is unattractive Bernie. Who by the way, hasn’t done an honest day’s work in over 30 years when he began living off of the taxpayers.


Man up and keep your word, college grads. I did, as did my kids, and millions of other students. Or, are you a bunch of pussies that need to be coddled because you got degrees that are idealistic (nearly all degrees that have the word “studies” in them) but not marketable? I, and other upstanding Americans owe you nothing, get over it!

E. Jean Carroll

‘I Love That I’m Not His Type’: E. Jean Carroll Responds to Trump’s Sexual Assault Accusation Denial

Trump Says He Would Nominate New Justice If SCOTUS Seat Opened Before Election: ‘I Would Definitely Do It’