Senator Elizabeth Warren's First Bill is a Disguised Attack on Students
Senator Elizabeth Warren's first bill (see her words introducing it below) is being praised by pro-capitalist liberals (such as Daily Kos) as "everything we hoped for." But Warren's bill is a disguised attack on college students and the entire working class.
In some other countries higher education has until recently been virtually free. But tuition at the University of California went from $1,820 in 1990 to $13,218 in 2012. Big Money should be made to pay these tuition fees, not students. The colleges are essentially training the labor force that Big Money uses to make a minority of billionaires rich. Why shouldn't Big Money pay for it--all of it? Students should not be forced to go into debt to the Big Money bankers just to acquire the education they need to contribute to society later in life.
Warren should have written a bill making higher education virtually free. But Warren's bill will maintain the "go into debt to Big Money if you want an education" system that serves Big Money so well. Warren's bill simply makes the interest rate lower on the loans that students must take to pay the increasingly expensive college tuition charges.
Because student tuition fees and loan debts are so outrageous, the public is angry at the Big Money class that rules the U.S. To control this anger while preserving the unjust system of forcing students to pay exorbitant tuition charges and go into debt to Big Money, it is Senator Elizabeth Warren to the rescue--the rescue of Big Money and its exploitation of students! Warren's bill is aimed at making the public accept that which is not acceptable--paying Big Money lots of money as the price one must pay to get an education enabling one to contribute to society.
Just as FDR knew his New Deal was necessary to save capitalism, Warren knows her bill is necessary to protect Big Money from the wrath of an increasingly angry public. In case you wonder which side of the conflict, between the oppressed and the oppressors, Warren is on, look no further than her over-the-top support of Israel's ethnic cleansing of Palestinians, which she expresses on her web page here.
We need to abolish class inequality and its wage and debt slavery. We need to start Thinking about Revolution.
Here's what Warren said about her bill when she introduced it on the Senate floor.
"Some people say that we can’t afford to help our kids through school by keeping student loan interest rates low. But right now, as I speak, the federal government offers far lower interest rates on loans, every single day–they just don’t do it for everyone. Right now, a big bank can get a loan through the Federal Reserve discount window at a rate of about 0.75%. But this summer a student who is trying to get a loan to go to college will pay almost 7%. In other words, the federal government is going to charge students interest rates that are nine times higher than the rates for the biggest banks–the same banks that destroyed millions of jobs and nearly broke this economy. That isn’t right."
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