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Andrew Yang Must Hold the Line Against the Reckless Policy of College Debt Cancellation



hi this is stockier bay and today we're gonna be talking specifically about Andrew yang holding the line and not joining Sanders and Warren and what I believe to be a reckless policy of college debt cancellation college debt cancellation is one of the most dangerous proposed Democrat policy stances that I've seen in the primaries it is very bad and the ramifications could be significantly destructive to America if things go the way Warren and Sanders are saying so so let's talk about energy reign real quick Andrew yang is not abandoning people with college debt who have problems who have a property saying hey here's $1,000 a month to help with those college debt with that college debt that's significant help right and and it's not just those people having the thousand you know themselves almost all people that are gonna be receiving this money they're gonna have parents are gonna have friends they're gonna have associates who also may not even need their thousand who can assist them as well right ubi is an incredibly powerful platform it helps it's going to help a lot of people who are poor it's going to help a lot of college graduates who generally are poor and it's gonna help people to help others right it's just it's an incredibly strong platform okay what about what about what Sanders are saying right 1.6 trillion dollars of of college tuition debt is going to be canceled that is an incredible amount of money right and the ramification if this happens this will be the ramifications this will be felt for decades in America maybe even a century of polled century right and here's why so basically Sanders is the farthest out on this poll right but Warren is following right behind him on the same branch right and I truly believe this branch is gonna crack off Sanders and Warren are gonna fall to the ground and they're gonna take a whole bunch of people in America that have been financially responsible and it's gonna be a bad damaging painful fall for a whole bunch of Americans right so let me explain why first and foremost to understand what Sanders is doing he is proposing a 1.6 billion dollar bailout for people in America who frankly need it the least right these are college you know these are people have gone to college people have graduated from college so college learned and college graduated right and the reality is especially the college graduated the idea of unemployed the the unemployed college graduate is an absolute boogeyman that the media has created right they they bring out you know they'll trot out these exception stories that I believe are one or two or maybe three percent of all people have really gone to college the reason why I'm saying this is at least well let me explain what let me talk it all the way through with these these unemployed college graduates right it is logically ridiculous right so the reality is they're they're saying that you know people are getting college degrees and then not and then remaining unemployed it's a ludicrous idea and it's a complete boogeyman that has been created to scare children like you know others so there's a monster under the bed right and the reality is there's no monster under the bed right there is not a macro level problem of unemployed college graduates okay and the reason why is when you get a college degree you know how to use computers you know how to every every accredited college in America now and the vast majority of of this debt would be going to accredited colleges right basically every single credit college when you get out there you know how to use the computer you know how to write a paper you know how to give a speech right you understand social cues well you know the reality is America has incredibly strong college systems right and so you know let's say you get you know the worst possible degree Renaissance literature right 15th century Renaissance literature utterly useless to the vast majority of businesses in America you are still eminently hireable by entire industries insurance industry they'll snap you right up nobody in there nobody ever said I want to be an insurance salesmen when when I grow up right that entire industry is made of people who do not want to work in it right every construction right you know there's tons of construction in America right now they need people to organize all those and all that material make sure that things are happening at the right amount of time the entire restaurant industry right they need managers right and even frankly they even need incredibly you know knowledgeable smart sophisticated waiters and waitstaff right the reality is it is almost if you truly have a college degree it is virtually impossible not to be able to get a job right now what the what scares people is oh I got my Renaissance literature degree I can't find a job in Renaissance literature yes that's a hundred percent true and frankly there's millions of degrees where people will not be able to find work in their chosen field that is very different from unemployment the idea of an unemployed college graduate is utterly ludicrous especially now when unemployment is at an all-time low in fact I remember hearing a statistic it was came for a study there's about a year and a half old right but they were so there was a point where recently with the in Trump's with in Trump's for years where unemployment was at 2% among people without a high school degree like everybody is working so the idea of the an unemployed college graduate is utterly absurd what about the danger of having too much college debt right well the reality is college debt is the most wet is one of the most well-managed types of debt possible there are entire there's an entire industry that is set up to so that if you are struggling they can put you on a different type of plan right there's multiple companies that do this there's huge tracts of companies that that managed college debt right and so if you get out and you have a very expensive degree and you cannot work in your field and you're gonna make a fraction of what you have you have a problem but it is an incredibly easily managed problem it's literally a few phone calls you get onto a payment program and and frankly you know those you know there's nobody knocking down anybody's door because they're not getting their college money back you know it's just it's not like if you you know you don't you can't even get a repo right like like here's the issue right college-educated college degree people these people don't need a massive bailout there are very poor people in this nation who do struggle right and they do need help right Andrew yang cbi is gonna be massively helpful to them that's a great plan but what Sanders is saying is he's saying let's take one point six trillion dollars of American dollars and give it to the people in this country who frankly need at least right they've already been extremely well educated they already have skills that many that literally millions of the people and we're going to forgive their debt it's absolutely ludicrous right now here's the other kicker right if you take a functional business right colleges are not rooking people right you will not find you will not find anywhere anywhere a study that says if you get a college degree you're you're likely that you're not going to be able to pay pay that back and that college is at you know at the macro level it's not worth killing that's just ludicrous li untrue right I for one have seen you know have seen I have two degrees I have a Bachelors of Science Bachelor a political science degree from Millersville University and I have a master's in technology administration from the University of Phoenix what I paid for those I have made tenfold at least right and the reality is study after study after study shows that people who go to college are almost always easily be able to pay back what they have made it and the reason why is the idea that that college lowers your ability to get a job or to make money is absolutely ludicrous if absolutely you know this is not some show game right college degrees are not a shell game and across the nation that there is not an issue of people getting degrees that were not worth what they pay for its in fact it's the exact opposite there are people all over the world who are sending their kids to our nation to pay top dollar to get these degrees because it's better than what they'll find virtually anywhere else in the world maybe the only exceptions might be like Oxford right but across the board American colleges are incredibly well sought-after right so this it's so Sanders is saying hey let's take one point six trillion trillion dollars of American dollars right let's to the people who least need it in the nation right and then in addition that he's saying let's take a business which is a functioning business this isn't you know this isn't some like this isn't a multi-level marketing scheme you know this isn't you know this isn't an MLM right this isn't some kind of you know shell game that's been used to trick people it's been proven that college degrees absolutely are worth the money paid right so so basically you're taking a fully functioning industry and saying we are going to take your entire model right which is nobody has the money to pay for college up front and and so Everts like easily ninety percent of college people take get funding right and we're going to turn it upside down we're gonna flip the table on your entire industry right and it will flip the table because one again there are hundreds of companies that are involved in college financing right people will make software for people who do you know track it people will give advice on it consultancies this is an entire industry right if Sanders does this he flips the table on every single one of these companies right and it is wrong and it is cruel and it will be take it will take a century to fix what he is what he's about to do right and basically you know so so basically you're just gonna flip the table and then it's going to massively impact the colleges themselves and the high schools as well every high school in America every college in America what do you do with tuition right with what do you do with scholarships and grants right now the you know this nation has literally tens if not they've looked actually it's low millions of students who are saying I'm gonna work hard and get an academic scholarship there are a lot of kids who are saying I'm gonna work hard and get an athletic scholarship there are kids who are saying I'm gonna work hard and get an art scholarship right well Sanders is like piss off all of you you're done right who cares hard work doesn't mean a thing right let's just turn the tables on all your work what do what do what do high schools do what do high schools do right what do colleges do with kids who now have no motivation to work hard right like basically what's the point all right like this thing that's been around and been available to just millions of people for probably a century and a half easily right you know like no you don't need to work hard to forget the arts forget athletics forget academics right I got it you know we'll just pay you know we're just gonna pay we're gonna pay or you know basically college is free and this is taught and all the debts been forgiven right in addition to that what do you do with car owners who are like hey I had my car for five years and not now it's all broke I would like debt cancellation forever for the vehicle I currently own and the vehicle I'm about to purchase this is insane it is insane it is incredibly reckless it takes one of the best functioning systems in America college education it flips the table on it the pieces are everywhere nobody knows where where everything went there's stuff that's you know that's scrambled under the couch right like it's just it's a mess it is a complete mess it is absolutely reckless it is ludicrously bad bad bad policy there's just no reason in the world anyone should think that I did that Sanders idea is a good idea and Sanders is far out on this branch and the branch is creature creaking right and Elizabeth Warren he's got a hold of his foot she's right there right so she's just as much like she's a little farther back but it's the same branch right and when this think racks off a whole bunch of people are on that branch with them right frankly every college administrator is on that branch every student who's currently in college is on their branch those poor people who were sucker enough to pay the debts they owed you know like you're done like how foolish that you had a debt and you paid it what a ridiculous concept right and Sanders is like hey here's a here's a fully functioning business we're gonna just flip the table on them and guess what really is there any businesses like if you if you bought a restaurant now you're not getting the return that you were expecting should there be debt cancellation for small businesses that failed where's this end where's this end and the reality is there is no end for it and the reason why is Barney as a saint is a socialist this is an outrageously reckless idea and it is absolutely critical that Andrew yang does not fold to political pressure peer pressure political peer pressure from Lauren and Sanders and do and go down this incredibly bad and go go out on this limb with them it is such a bad reckless idea and I just really think it's incredibly important the people just open their eyes cuz like this is so clearly a bad idea right that's my opinion I'd love to hear your opinion tell me if you think I'm wrong or if you think I'm right I was lucky here left to please consider liking and subscribing and have a wonderful millennium

17 Comments

  1. Noztube
    Noztube July 13, 2019

    Yang won't fold because he has his own plan for student debt. Just like many of his other policies, it's much more well thought-out than the policies from other candidates. Look for it under yang2020.com/policies titled "Reduce Student Loan Burden" and "Make Community College Affordable for All". Curious to hear what you think, and would make a good segway.

  2. Brick Buddy Studios
    Brick Buddy Studios July 13, 2019

    – https://amp.businessinsider.com/andrew-yang-supports-forgiving-student-debt-does-not-support-free-college-2019-4

    He’s not holding “a line”, he stands with them already.

    The idea behind it isn’t that these people are all totally crippled, it’s that they were robbed by a broken system with inflated prices. that’s why Andrew wants to reform that system, and refund its victims.

    Tens of thousands of dollars worth of inflated prices on anyone who as you say, are needed to attend to college in order to get value in the workforce and pursue their passion, is wrong and most of all: definitely already a part of Andrews policy agenda.

  3. johncrab67
    johncrab67 July 13, 2019

    I'm for allowing people to file for Student Loan Bankruptcy. That alone would solve most of the problem with the debt. And, Andrew is for that. #Yang2020

  4. Albert Tom
    Albert Tom July 13, 2019

    Hi Scott, have you read either Andrew Yang’s “War on Normal People” or visited his policies website at Yang2020 and studied each of his proposed solutions?

  5. David Chou
    David Chou July 13, 2019

    Jesus…you can cancel (forgive) literally any other debt except for student loans. WTF are you smoking???

  6. Tenzin Woiser
    Tenzin Woiser July 13, 2019

    damn u got a hater u must be doing great

  7. Blank Green Canvas
    Blank Green Canvas July 13, 2019

    I really hope Andrew Yang is watching your videos, Scott. You are intelligent and make really great points that he could really use to succeed. I always knew Yang had momentum, but it looks like we haven't even started the surge. Keep it up!

  8. Keith Chin
    Keith Chin July 13, 2019

    College scam teenagers to get into debt. Why not cancel it!!?? We bail out big bankers, who are professional handling money, with 4 trillions. College student should be bailed out 1.5 trillion.

  9. Unelected Leader
    Unelected Leader July 13, 2019

    Debt cancellation is one thing. The so called tuition free college is a disaster. A huge number of degrees have no real market value. America has a serious shortage of only certain degree jobs, and then a huge shortage of skilled labor in the trades.

  10. Gnash Ridgeback
    Gnash Ridgeback July 13, 2019

    Yang has a policy regarding student debt. It seems like a good policy to me. I hope he stays with it: https://www.yang2020.com/policies/student-loan-debt/

  11. Amleto's Vision
    Amleto's Vision July 13, 2019

    Respectfully , there are people who have paid their student loan debt 5 times over . It is the mortgage without the house. I am a believer that interest should be capped at 1 % and it should be pushed back to the date of the loan. AKA if you paid more than you borrowed you are good.

  12. stenquists1
    stenquists1 July 13, 2019

    … Yang talked about canceling some (don't know if he ever gave a specific figure) of student loan debt before Warren and Bernie even brought it up, Yang was ignored and then they got praised. He justified it by saying that the people had no say when the fed bailed out companies in the recession. I agree with your perspective to an extent, I would struggle to support "free" college for everyone paid by taxes but I am open to ideas such as helping lower income people into college, and more aid in STEM fields.

  13. sid ku
    sid ku July 13, 2019

    The whole college loan program must be restructured.
    This industry must learn from how home mortgages are financed.
    1. There must be a maximum cap on the total loans that can be financed much like FHA has a max loan amount.
    2. There must be a maximum percentage you can borrow (say 50% of tuition) or you need to get college debt insurance like PMI for home loans. (PMI is necessary if you borrow over 80%) Insurance companies would determine if they want to insure you based on their requirements since they would pick up the tab if you default. No insurance, No loan > 50%.
    This max percentage also makes sure you have some skin in the game.
    3. There must be a calculation for what the average salary for your major to determine if monthly debt payments can be made.
    These kind of changes would make students more judicious in the cost of the colleges they attend.

  14. Caleb Strohl
    Caleb Strohl July 13, 2019

    To understand arguments for and against UBI it is necessary to have a good understanding of Keynesian, Austrian, and Chicago School models of economics. UBI conforms with all of them. It boosts market signals (spending) without creating artificial demand (A bad Keynesian idea). Cancelling debt is a bad idea. UBI is a fantastic one.
    Austrian: https://m.youtube.com/watch?v=jrFZgvYFrbQ

    Keynesian: https://m.youtube.com/watch?v=hPkh8kOldU4

    Friedman: https://m.youtube.com/watch?v=0gcx8_tnkDs

  15. Matt Lenington
    Matt Lenington July 13, 2019

    It is an appeal to emotion. I disagree that we have a well functioning higher education system. I paid for my degree as I got it but the cost has skyrocketed in the last decade and the quality has declined. I know some small business owners that won't hire students from the humanities at all, because of the low quality of education. That said I believe it is a general feeling that our children dont have the same opportunities that we did because of the system. Bernie and his gang are just tapping into that feeling. Completely agree with you that this is a bad idea. But I am neither a socialist or Democrat.

  16. D. ALPHA
    D. ALPHA July 13, 2019

    Scott Garibay , Thank You, That some next level perspective!💯💯🤔🤔

  17. Fellowship of Gaming
    Fellowship of Gaming July 13, 2019

    Yeah not only debt cancellation; Sanders wants to give 15 dollar minimum wage, free healthcare to all, free college for all, and a multitude of other free things for all. Are economy is going to crash under Sanders. I'd rather vote Trump again. Yang freedom dividend can help with a lot of things, and it won't hurt the economy.

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