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:
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.