JFD
On the day before President Biden announced that he is “forgiving” part or all of the student loans of nearly everyone who owes them, his administration released a legal memo declaring that he had the authority to do this under a 2003 law.
That claim is belied by Congressional records recently unearthed by Just Facts. These reveal that Congress voted to pass the law by a margin of more than 500 to 1 because it did not authorize any actions that would cost money.
In contrast, Biden’s decision to cancel student loans and alter their payment terms will cost from $605 billion to more than $1 trillion over the next 10 years. That amounts to an average cost of roughly $4,700 to $7,700 for every household in the United States.
Before this, both Biden and Trump took similarly illegal actions to cancel interest on student loans, costing tens of billions of dollars.
The illegality of these actions is confirmed by the text of the law and Supreme Court decisions on similar cases dealing with presidential power grabs. MORE
Illegal loan forgiveness, illegal immigrants. It’s all much of a muchness when it comes right down to it. It will make a good Trivial Pursuit question.
…well, it’s not like he’s legally the president in the first place, so technically EVERYTHING he does is illegal…
You guys know this is all on purpose, right?
Yes, we know it’s on purpose.
No one has ever caused this much damage ‘by accident’.
Additionally, constitutionally spending has to be initiated in the House
Since when did anyone (besides us) give a tinker’s damn about the Constitution?
FJB
Joe Biden has two basic purposes in life. First is to enrich himself and second is to buy votes, at the taxpayers’ expense, for the Democrat party so that they can enrich themselves. Both are parasites.
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Laws mean nothing to us.
Kleptoparasitism is found throughout the world and in all parts of the US Government.
Trump should be impeached for his illegal student loan interest forgiveness. It’s CLEARLY unlawful….
Biden is doing this “To..I mean..For the People” The difference is obvious….
(I threw up in my mouth a little)
You are ignoring an important fact: we had a Republican President in 2003. When we have a Democrat President laws don’t apply.