Most people understand what a loan is: you borrow money on the promise to pay it back, usually with interest. But the necessity of paying it back is the key idea here. It is the essence of the exchange – what makes it a loan. Otherwise, it is a gift.
Anaheim Union High School District Trustee Al Jabbar doesn’t agree. In his mind, a loan isn’t a loan if one can use political power to transform it into a gift after that fact.
Al Jabbar took out student loans. But he doesn’t want to pay them back. Hence, his enthusiasm for Bernie Sanders, the socialist from Vermont who promises that if elected president, he will cancel everyone’s student loans. Several days ago, Jabbar confessed to a group of fellow Berniecrats that he’s “super stoked” that under a President Bernie Sanders “my student loans will be cancelled.”
Don’t take our word for it. Here is Jabbar himself on January 25:
At the same time that Jabbar is “Feelin’ the Bern” in hopes of getting out of paying his student loans, Jabbar is asking voters to approve a $398 million school bond – Measure B on the March 3, 2020 ballot. However, it will cost AUHSD taxpayers closer to $650 million to pay off the $398 million that Jabbar wants to borrow.
It’s an interesting contrast. Al Jabbar doesn’t want to pay back the money he borrowed for his education, but he wants taxpayers to pay back – with interest – the hundreds of millions he wants his district to borrow.
If Measure B passes, do AUHSD taxpayers, if they decide they no longer want to pay for it, get the option of “canceling” their part of that collective student loan?
Either way, Jabbar loves spending other people’s money – whether it is championing higher taxes, deepening government debt or forcing other Americans to pay off student loans he chose take out.
Contrast Jabbar’s super-stokedness about pushing his debt onto other people with the parent who recently confronted Sen. Elizabeth Warren about the injustice of that idea:
DAD: I just want to ask one question. My daughter’s getting out of school. I saved all my money. She doesn’t have any student loans.
WARREN: God bless you.
DAD: Am I gonna get my money back?
WARREN: Of course not.
DAD: So you’re going to pay for people he didn’t save any money, and those of us who did the right thing get screwed.
When Warren replies that nobody is “getting screwed” the Dad interjects:
“Of course we did! My buddy had fun, bought a car, went on vacations. I saved my money. He made more than I did. I worked a double shift, I worked extra. My daughter has worked since she was 10. So, you’re laughing at me.
DAD: That’s exactly what you’re doing. We did the right thing, and we get screwed.
Someone should introduce this guy to Al “Moral Hazard” Jabbar.
Bernie Sanders promise to cancel student loan debt is plain old vote buying, done with other people’s money. If nothing else, Jabbar has placed a price on his vote.