President Biden today is announcing what many Democrats call a “student loan cancellation,” though the debt wouldn’t really be canceled — just shifted to others:
In keeping with my campaign promise, my Administration is announcing a plan to give working and middle class families breathing room as they prepare to resume federal student loan payments in January 2023.
I'll have more details this afternoon. pic.twitter.com/kuZNqoMe4I
— President Biden (@POTUS) August 24, 2022
Hey, what’s another $244 billion in spending?
Around 9 million borrowers could have their balances entirely cleared by Biden’s plan, according to higher education expert Mark Kantrowitz.
Biden’s decision to move ahead with $10,000 in student debt cancellation for borrowers who earn under $125,000 will cost the federal government around $244 billion, Kantrowitz estimated. The $20,000 in relief for Pell Grant recipients may add around another $120 billion to the government’s costs.
The unprecedented action by the White House of wiping out hundreds of billions of dollars in consumer debt follows years of advocacy pressure and recent months of heated debate among Biden administration officials.
CNBC reported that it’s “unprecedented.” As Clay Travis explains, it’s “unprecedented” because it’s not legal:
Joe Biden has no constitutional authority to unilaterally strike down student loan debt. Congress must act to allow this to occur. The Supreme Court will strike down this move. The Biden administration knows this. Which is why this is simply a craven political move for midterms.
— Clay Travis (@ClayTravis) August 24, 2022
This is basically an attempt to bribe voters with something that might never even happen:
Almost all media arguments will focus on whether this is a good idea or not. The real story is it’s blatantly unconstitutional. But it won’t be struck down until well after the midterms. When that happens Democrats will blame the court in 2024 campaign.
— Clay Travis (@ClayTravis) August 24, 2022
It would then give the Democrats another reason to be triggered by the Supreme Court.
The real question all should be asking is this: if taking on 300+ billion in student loan debt for the American taxpayer is politically popular, why didn’t Biden introduce legislation & pass this with Democrat majorities in House and Senate? Because Congress wouldn’t pass it.
— Clay Travis (@ClayTravis) August 24, 2022
The Biden White House says their student loan payoff is hugely popular, but they know it’s not really that popular:
This is essentially the eviction moratorium extension all over again. The president is acting unilaterally outside his own powers, & he knows it, for entirely political reasons. Media should do a better job explaining this. But they won’t. Because most media are Dem cheerleaders.
— Clay Travis (@ClayTravis) August 24, 2022
Most of the media will do nothing but cheerlead for the Biden admin instead of reporting that this move is unconstitutional.
Meanwhile, Senators Chuck Schumer and Elizabeth Warren are actually thrilled that Biden’s going around Congress to implement all this:
With the flick of a pen, President Biden has taken a giant step forward in addressing the student debt crisis by cancelling significant amounts of student debt for millions of borrowers.
My statement with @SenWarren: pic.twitter.com/LuZo8EowyD
— Chuck Schumer (@SenSchumer) August 24, 2022
“Flick of the pen”? More like…
*with the flick of a middle finger https://t.co/L7b7TN1KZZ
— semite, yo (@sarahbellumd) August 24, 2022
Bingo!
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Related:
UH OH! Clay Travis spotted something diabolical in timing of Dem governor’s White House visit
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