August 26, 2022
Is Biden even able to bail out student loans?
By Jack Gleason
As almost everyone has heard, Biden announced his plan to spend $360 billion to forgive student loans for up to 43 million Americans. Groups estimate that the actual cost may be $440 to $600 billion, but who's counting?
Legal experts have reported that although Biden may have some authority to postpone payments, he clearly doesn't have the power to cancel debts. This is the province of the Congress, as explained by Nancy Pelosi in 2021. This announcement comes in a long line of other unconstitutional executive orders from Sleepy Joe that are challenged in court, and, after a period of legal drama, are overturned.
The reaction from many different sides to his plan has been overwhelmingly negative. People who have already paid off their student loans are angry because they did the right thing and kept to their obligations, and people who didn't get loans, or didn't go to college at all, are even angrier at the idea of paying more taxes to fund doctors, lawyers, and academics who should be able to pay what they owe. The inflationary aspects of the debt forgiveness mean that the $7,000 Americans are paying extra each year for Biden's high prices will continue to increase, with no end in sight — and this includes the people getting the cash in the first place. Pay me now, or pay me later...
So what's going on here? Why would Biden make a big deal about something that won't pass legal muster? And why didn't he just forgive all student debt and be done with it?
more
https://www.americanthinker.com/blog/2022/08/is_biden_even_able_to_bail_out_student_loans.html
