Joe Biden does not have the unilateral authority to use federal funds to cancel or “forgive” student loan debt. He knows it, Democrats know it, and Nancy Pelosi certainly knows it — she said so earlier this year!
The Democrats are so desperate to win back support, they’re willing to BUY VOTES using a phony debt cancellation scheme that has no legal standing whatsoever.
On Wednesday, Biden officially announced his plan to cancel $10,000-$20,000 in student loan debt for borrowers who make less than $125,000 per year. The plan will cost taxpayers billions upon billions of dollars and will likely benefit America’s highly-educated elite.
The plan is legally shaky, to say the least, and will likely be challenged in court — probably even the Supreme Court. But again, Democrats will do anything to mitigate potential losses from November’s midterm elections.
The debt cancellation plan is Joe Biden’s hail mary.
If it hasn’t already been proven before, we now know that Nancy Pelosi is a scam artist and a fraud.
The octogenarian House Speaker may be old, but she isn’t stupid. She knows more than anyone that the President cannot legally cancel student loan debt — a self-evident claim she previously admitted to in front of reporters.
REMINDER: Biden doesn't have the authority to forgive student loan debt. Even Speaker Pelosi agrees.
PELOSI: "People think that the President of the United States has the power for debt forgiveness. He does not… The President can’t do it. So that’s not even a discussion." pic.twitter.com/E1AH0YxTFZ
— Senate Republican Communications Center (@SRCC) August 24, 2022
But on Wednesday, after Biden announced his plan to “forgive” student loans, Pelosi seemingly forgot her previous position, heaping glowing praise for Biden’s “bold action” on Twitter.
.@POTUS’ bold action is a strong step in Democrats’ fight to expand access to higher education.
By delivering historic targeted student debt relief to millions of borrowers, more working families will be able to meet their kitchen table needs as they recover from the pandemic. https://t.co/nHkBLNvqeG
— Nancy Pelosi (@SpeakerPelosi) August 24, 2022
In January 2021, the principal deputy general counsel for the Department of Education, Reed Rubenstein, clearly stated the president has no power to unilaterally “forgive” student loans, noting, “Given the HEA’s many specific provisions for cancellation, compromise, discharge, or forgiveness of student loan principal balances and/or material modifications to the repayment amounts or terms thereof, we believe any Executive Branch action on a blanket or mass basis, whether under 20 U.S.C. § 1082(a)(6), the HEROES Act, or otherwise, wrongfully transforms carefully cabined HEA settlement authority into a general administrative dispensing power.”
In a way, Biden’s plan to cancel student debt is a brilliant political move as it reinvigorates Democrat voters and even tempts some right-leaning Americans to reconsider their votes. He knows it’s illegal, we know it’s illegal, but most voters don’t know any better.
Author: Asa McCue