Discover video-sourced quotes by politicians

Ron Johnson: “We've enticed our children to incur now about $1.2 trillion…”

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

Senator Johnson at the Budget Committee

Published June 4, 2014 | Video Starts at 00:08

Thank you, Madam Chair. Appreciate you holding this hearing. This is, I think, an extremely important issue. I think it's a tragedy that We've enticed our children to incur now about $1.2 trillion in student loan debt collectively. I had a finance professor in college, before we ever talked about cost capital and all the complex issues with corporate finance, he spent a day just talking about personal finance. (00:08–00:14)

CLAIM

Asserts that student loan debt in the U.S. is approximately $1.2 trillion.

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.

Discover more from

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
“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
“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…”
Senator Johnson at the Budget Committee | Uploaded June 4, 2014 | 07:39-07:48
“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