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Ron Johnson: “We have collectively enticed our children to incur $1.2…”

Featuring: Ron Johnson, Republican | U.S. Senate, Wisconsin

Senator Johnson at the Budget Committee

Published June 4, 2014 | Video Starts at 07:39

But I think we have to honestly take a look at the reality situation and look at the very severe and serious negative unintended consequences of our good intentions. Part of that being is We have collectively enticed our children to incur $1.2 trillion student loan debt that now we're trying to figure how to solve that problem that the government's caused. Thank you, Madam Chair. First of all, thanks for coming to testify to all the witnesses. (07:39–07:48)

CLAIM

Asserts that the government has caused a $1.2 trillion student loan debt problem.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Ron Johnson

“In 1963, the total cost of a four-year undergraduate degree in a public college was about $929 per year.”
Senator Johnson at the Budget Committee | Uploaded June 4, 2014 | 01:03-01:15
“As of 2012, the cost of college outstripped the rate of inflation by almost two and a half times.”
Senator Johnson at the Budget Committee | Uploaded June 4, 2014 | 01:29-01:36
“We've spent about $2 trillion since 1963 on student aid.”
Senator Johnson at the Budget Committee | Uploaded June 4, 2014 | 03:03-03:09
“We've enticed our children to incur now about $1.2 trillion in student loan debt collectively.”
Senator Johnson at the Budget Committee | Uploaded June 4, 2014 | 00:08-00:14
“By 1988, the actual cost had risen to $4,678, which was 27% higher than had it just grown at the rate of inflation.”
Senator Johnson at the Budget Committee | Uploaded June 4, 2014 | 01:16-01:28
“Average student loan debt after four years of college is $25,000.”
Senator Johnson at the Budget Committee | Uploaded June 4, 2014 | 03:23-03:28
“About half graduate pretty much in the four-year time period... the other half raises the average time to graduate to 6.3 years.”
Senator Johnson at the Budget Committee | Uploaded June 4, 2014 | 03:43-03:57
“The College Cost Reduction and Access act of 2007... discharges any remaining debt after 10 years of full-time employment in the public…”
Senator Johnson at the Budget Committee | Uploaded June 4, 2014 | 05:27-05:40
“At Georgetown, 350 borrowers are taking advantage of this program. At Berkeley, there are 263.”
Senator Johnson at the Budget Committee | Uploaded June 4, 2014 | 06:34-06:41
“How would shifting this debt from a select few to all of our kids and grandkids, how would that help our economy, help entrepreneurship?…”
Senator Johnson at the Budget Committee | Uploaded June 4, 2014 | 10:09-10:29
“Forgiveness will come on the backs of American taxpayer or additional debt burden on our kids and grandkids, correct?”
Senator Johnson at the Budget Committee | Uploaded June 4, 2014 | 11:20-11:26
“Are you disturbed about the political and the Wall Street Journal stories. I was reading about how the law school graduate schools are…”
Senator Johnson at the Budget Committee | Uploaded June 4, 2014 | 12:11-12:24