A new report from the Washington Examiner reveals how Joe Biden maneuvered to work around a ruling from the Supreme Court that he didn’t like. And possibly benefit his 2024 campaign for a second term at the same time.
That court decision said his plan that could influence voters, soon choosing whether he will or will not get a second term in office, by “forgiving” some $400 billion in student loan debt, was unconstitutional.
He had campaigned on a promise to “fix” a broken student loan program and promised to attempt “every tool at my disposal to cancel those debts.”
In reality, the debts were not canceled at all; Biden simply was transferring the indebtedness from the borrowers, often now wealth lawyers and bankers, to taxpayers to might never have had their own chance to attend an elite university.
He wanted to move than $400 billion in debt to taxpayers using the HEROES Act of 2003, which was written with Iraq War veterans in mind.
The Supreme Court ruled that was not constitutional, so Biden reached into his bag of “tools” and within days had announced the transfer of debt from some students to taxpayers using the Higher Education Act of 1965.
That allows, “In the performance of, and with respect to, the functions, powers, and duties, vested in him by this part, the Secretary [of Education] may enforce, pay, compromise, waive, or release any right, title, claim, lien, or demand, however acquired, including any equity or any right of redemption.”
Biden just this week announced he was giving to taxpayers the debts of another 78,000 public sector workers, totaling about $6 billion. His program launch had started out just days after the Supreme Court ruling with a decision to transfer the debt of 804,000 borrowers, totaling $39 billion, to taxpayers.
Biden’s transfer of debts from students to taxpayers now has totaled some $144 billion.
The Examiner reported, “Biden is sending out emails with his name and signature to anyone whose debt is getting canceled, letting them know who’s responsible. The moves have outraged conservatives who say it is illegal, fails to address the root issue of high college costs, and is a net wealth transfer from those who didn’t go to college to relatively well-off people who did.”
Rep. Virginia Foxx, R-N.C., said in the report, “I want President Biden to answer this question: How does transferring student loan debt improve the federal student loan system? The answer is it doesn’t.”
Critics have openly described Biden’s actions as a “vote-buying scheme,” in an election year in which his approval ratings are plunging, his economy is costing American families thousands a month, and he’s behind President Donald Trump in most of the more recent polling.
“Ever since the Supreme Court put a stop to Biden’s illegal mass loan forgiveness, he has taken a ‘death by a thousand cuts’ approach to foisting as much debt as possible onto the federal taxpayer in an effort to buy votes,” Defense of Freedom Institute spokeswoman Angela L. Morabito said.
The report pointed out, however, that no major lawsuits have yet been assembled to challenge Biden’s latest spending spree.
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