College-debt forgiveness is President Biden’s Hail Mary pass to buy votes and avoid a disastrous rout in the midterm elections. But after the votes are counted, the scheme is likely to collapse.
If you have college loans and you’re celebrating Biden’s announcement, don’t spend the money just yet.
Federal courts are almost certain to smack down Biden’s plan as a brazen violation of the Constitution.
Biden has no authority — zip — to issue a blanket forgiveness of college debt without Congress.
The scheme is estimated to cost at least $330 billion, which amounts to double the entire annual budget of the US Army. Only Congress, which has the “power of the purse,” can decide to spend that kind of money. Not Baron Biden.
Biden and his fellow Democrats know that. Biden himself called college-loan forgiveness “pretty questionable” in December 2020. House Speaker Nancy Pelosi insisted just 13 months ago that the president does not have the authority to forgive debt.
Not going to Happen !!! More Discrimination by Democrats !!!!