4 million voters purchased.
Biden cancels nearly $6 billion in student debt for 78K public service workers
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| Dual citizen Agent of the British Crown bribes US Supreme Court justice |
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| 3.9 million votes for $138 billion and counting |
The Biden administration has now canceled more than $136 billion in student debt for over 3.7 million Americans, according to the White House.
More.
It's a small point, but the stock market cheerleaders, who are ubiquitous, consistently report year over year inflation as 7.7% when it's 7.8%.
Nothing must get in the way of the narrative, especially convention.
Meanwhile, the inflation regime is a giant wealth transfer scheme from you to them. But student loan forgiveness was the anesthetic to make young skulls full of mush forget on Tuesday.
Got it?
Good.
A COVID-19 emergency excuse is even less persuasive today than it was when Pelosi last year said Biden doesn't have the authority to cancel the loans.
This will be stopped by the courts, same as Biden's illegal vaccine mandate for the private sector was stopped.
Still waiting, however, for the courts to reverse the illegal deprivation of the former president of access to his own papers.
So don't hold your breath.
This out of control and senile old man Joe Biden should be impeached and removed from office.
US Department of Education, Office of the General Counsel, January 12, 2021, here:
All federal student loan programs administered by the Department are funded through annual Congressional appropriations drawn from the Treasury. These appropriations are conditioned on the Department’s faithful execution of the laws authorizing that loans be made available to eligible borrowers and then repaid or collected. See 20 U.S.C. §§ 1077a, 1078, 1078-3, 1078-6, 1078-7, 1080, 1080a, 1082, 1083, 1085, 1087e, 1087-1, 1087gg, 1091b, 1092b, 1092c, 1095a, 1098e. Although Congress could enact legislation authorizing the Department to provide blanket or mass cancellation, compromise, discharge, or forgiveness of student loan principal balances, and/or to materially modify repayment amounts or terms, it has not done so. See 20 U.S.C. §§ 1077-10 – 1077-12, 1087e(f), 1087e(h), 1087ee, 1091b, 1098d. Rather, Congress has explicitly authorized cancellation, compromise, discharge, or forgiveness, and/or material modifications to repayment amounts or terms only in very limited circumstances. See, e.g., 20 U.S.C. §§ 1087e(f), 1087e(h), 1094(b)(3), 1098aa, et seq. ...
Title IV’s plain text and statutory scheme, and controlling interpretative canons, compel us to conclude Congress appropriated funds for student loans with the expectation that such loans would be repaid except in very specific circumstances.
From the story:
Canceling $10,000 per borrower would cost around $321 billion and completely forgive the loans of about one-third of student loan borrowers.
This is all BS, of course. Millions of those borrowers can afford to pay off their loans themselves.
Student loans are another form of welfare for far too many borrowers of color, who dig themselves into a deep hole with government and education establishment encouragement and never get a degree, both of which also profit off the scheme. Meanwhile colleges continue to increase the cost of tuition knowing there is a ready source of government loan funding to pay for it.
Forgiving student loan debt without paying attention to income will inevitably be a handout to millions upon millions of high earners like Representative AOC who drives a Tesla Model 3 while reducing the average black loan balance by less than 20%.
If you make over $74k you are in the top 20% of all wage earners in the United States in 2020. You can afford to pay your obligations. AOC is in the top 4% of all wage earners.
Handing $10k in loan forgiveness to American elites isn't a vote-buying scheme. It's a Democrat patronage payment.
