Studies Show Biden’s Illegal Student Debt Forgiveness Scheme Is Welfare For The Rich

The Federalist ^ | 08/24/2022 | Tristan Justice

[mewzilla]

Northwestern had a $15 billion endowment in 2021. The vast majority of its $2.56 billion in rev last year came from capital gains made through investing its endowment. These colleges operate as federally-funded hedge funds w/ schools attached to them & they pay $0 in taxes.

[lgjhn23]

The whole working sector of the country should go out on a tax strike.
Where in the Constitution (I know, it’s dead) does it give the POTUS the authority to forgive private citizen debt? This jerk thinks he’s a king.

[COBOL2Java]

It used to be that a pack of cigarettes was enough to buy a vote.

Yep, they called it "Walkin' Round Money". Still an active tactic in the urban parts of Maryland, especially Baltimore and PG County. Five bucks and a pack of cigs would be handed out to the folks in line, to encourage them to cast the right votes. And the authorities would look the other way - as long as they got a good piece of the action.

[Liz]

P

[SamAdams76]

The blue collar workers appear to be waking up slowly. But the unions still have a lot of pull and they indoctrinate their workers with Left Wing socialist ideology in much the same way that colleges indoctrinate their students.

[Ciexyz]

I graduated college with no student loan debt because my family saved up the money (with savings bonds and wise savings).

[napscoordinator]

She’ll still owe 17,000 after this bill is implemented. She makes well over 125K. I’m glad she won’t benefit.

[MinorityRepublican]

I thought the Congress had to pull this kind of BS. Where does the Pedoprez get off doing this? It’s time to impeach the crook.

Only the Congress has the authority to do this. This is unconstitutional by the President. Congress is responsible for the purse.

[CodeJockey]

They know they may have screwed the pooch on this one.

Very little reporting from the Marxist media. If fact, not a single mention or link on the Drudge Report about this.

That’s telling.

[glennaro]

When pandering politicians do something this blatantly illegal -- and it is occurring with increasing frequency -- I am reminded of Thomas Jeffersons's brilliant insight:

In questions of power, let us hear no more of trust in men, but rather bind them down from mischief with the chains of the Constitution.

[entropy12]

Money laundering, pure and simple.
Tax payers give to students with loans.
Students get easy access to more student loans and pay higher tution fees. More money for the liberal apparatus known as universities & colleges.

[FlingWingFlyer]

It’s sound to me like this is a good opportunity to get rid of a worthless Congress if they’re going to sit on their asses while our demented, lunatic president is spending money like a drunken Ukrainian.

[GOPJ]

Biden's giveaway plan:

Billions of dollars for Joe's base - - wealth re-distribution from the financially responsible (students and parents) to the financially irresponsible deadbeats of the democrat party (rich and poor) to the mega rich donors of liberal academia...

Ultra wealthy white liberal 'elites' running the University/Industrial Scam Complex are among Joe's biggest donors... .

Yes, "Harvard's a hedge fund with classrooms attached" - with an 'endowment' larger than the GDP of many countries - but now they'll collect billions for all those unqualified 'students' they were happy to accept.