FIRST WOMAN PRESIDENT: Elizabeth Warren Says She Has What It Takes

Democrat Elizabeth Warren’s $1.25 trillion plan to cancel existing student loan debt and make college free has been slammed as a “sweeping bailout for the middle class” and a regressive giveaway to the wealthy at the expense of the poor.

“Her latest big idea — to eliminate vast quantities of student debt and make public universities tuition-free — is not a sound idea,” wrote the Washington Post’ editorial board on Tuesday.

Warren unveiled the far-reaching plan on Monday, pledging to cancel almost all student loan debt for 42 million Americans and introducing tuition-free college, with a total price tag of about $1.25 trillion over 10 years, including a one-off cost of $640 billion to cancel the debts.

Under the proposal, each person’s student debt would get a relief of $50,000 if household income is up to $100,000. Higher incomes would also be entitled to massive debt reductions, while only those households with earnings of over $250,000 would get no student debt reduction.