He has already been forbidden by Supreme Court ruling from doing this. Why isn’t anyone doing anything about it?
I still haven’t received my “thank you” card from the deadbeats.
It’s only a matter of time until Dems do the same for mortgages.
I guess all federal loan programs can be converted to grant programs on a whim.
Of course this is illegal, but Biden will just do it and present it as a fait accompli before challenges can be litigated. The clock on a possible injunction to stop this will run out fast.
Once upon a time, in the distant past when Congress still had a budget process, this could not have passed muster on the Hill because a grant is an expenditure requiring enactment of dollar for dollar Budget Authority. Loan programs were multipliers because the underlying BA was substantially offset by projected repayments. Congress only needed BA to cover anticipated losses. Loan guarantees yielded an even bigger multiplier. If everything becomes a de facto grant, everything becomes an expenditure.
But since there is no longer a budget process, what the heck. The Treasury will just borrow whatever.
I am sorry my son ever sacrificed and repaid his student loans in full. He should be reimbursed and so should any American who repaid their student loans.
reason numerber 5 he should be removed violation of oath of office
What a great guy!
Where DOES he get all the money?
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That part of the equation is in the 'past light cone'.
This is debt that is not being paid, and barely being collected. Dead debt, yet most of which could not be discharged in bankruptcy until The White Hospice also altered those rules last year.
This is purely The White Hospice pimping moral hazard to their hoodoo do-nothing koalition: 'there is no such thing as debt, and even if there is, it is illegal, and even if debt is legal, who is going to call us on it?'
One way to counter this would be a conservative vanguard swooping in to buy up private-market defaulted student loan debt at a discount and suing the daylights out of both the defaulters and The White Hospice, but Elon has too much on his plate already. So get at it, Freepers!
All of this means nothing if the Dollar collapses.
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Isn’t this at the expense of taxpayers? Should be illegal to do this.
Just wait until these deadbeats, that get their school loans wiped away, learn, they have to claim the amount written off, on their taxes, as income.
This is the same BS he tried before. It was struck down and people are back to paying their student loan bills.
No one is going to benefit in the long run, and this will do nothing more that screw up the economy again.
Supreme Court ruled against this. Biden doing it anyway. So he can be held criminally liable after his presidency, right?
Always remember this is money owed to YOU the taxpayer!!!
'But that didn't stop me.'
https://www.dailymail.co.uk/news/article-13110189/joe-biden-student-loans-california.html
$1.2 billion to buy the youth vote and another $1.2 billion to add to the inflation. Americans will pay twice for this one.
Biden does what he wants, we have to sue to stop and the Joe claims he mentally incompetent so he can continue…..
Biden has NO legal authority to do this.
He is a dictator.