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February 23, 2024

Biden Transfers More Student Loans to Taxpayers, Wants a ‘Thank You’

These loans are not being forgiven. The balances are just being transferred to taxpayers.

Democrats are nothing if not shameless in how they go about buying votes. Worse, Joe Biden is using your money to buy other people’s votes via his student loan “forgiveness” transfer program. He added another 153,000 borrowers to that roster for about $1.2 billion this week.

The timing was exquisite. With all the concern over the fact that he’s in steep cognitive decline, Biden needed to remind voters that he’s a “sympathetic” and “well-meaning” man, not just an “elderly” one with “a poor memory.”

Then-House Speaker Nancy Pelosi said in 2021 that “the president can’t do” what Biden eventually did anyway. “The president can only postpone, delay, but not forgive,” she explained, saying anything of that sort would require “an act of Congress.”

Frankly, that, too, would be unconstitutional. The Constitution does not grant the federal government the authority to abrogate private contracts between lenders and borrowers, forcing taxpayers to pay back loans they did not take for college degrees they did not earn.

But since when did Washington politicians care much for that musty old parchment?

Indeed, in August 2022, Biden did it anyway in a transparent ploy for votes. In July 2023, the Supreme Court rebuked him in a resounding 6-3 ruling. Biden immediately proceeded to ignore the Court and implemented a workaround to keep up the transfer payments in smaller batches.

Since then, a new White House “fact sheet” says, “The Biden-Harris Administration has now approved nearly $138 billion in student debt cancellation for almost 3.9 million borrowers through more than two dozen executive actions.” Billions more dollars will be spent leading up to the election because millions more borrowers are registered in his program.

Biden has no authority to do that, and the Supreme Court told him so. He doesn’t care. In fact, he’s blatantly daring anyone to play the villain and stop him.

“Tens of millions of people in debt were literally about to be canceled, their debts,” he said Wednesday in revising the history. “But my MAGA Republican friends in the Congress, elected officials, and special interests stepped in and sued us, and the Supreme Court blocked it. They blocked it. But that didn’t stop me.”

Constitutional authority? Malarkey. Checks and balances? Please. Totally unfair to send the bill for loans to people who didn’t take them out? Whatever.

Kind Uncle Joe is here to take care of (not so) poor college graduates struggling to get by, and mean, stingy Republicans aren’t going to stop him.

Remember, this is the same guy warning that Donald Trump is a would-be dictator who threatens democracy.

Speaking of Trump, one thing Biden did learn from his predecessor is to put his name on the check. When approving COVID stimulus checks under his administration, Trump made sure his name was on the checks. Team Biden promised such political games would stop under his administration. They did until they didn’t.

“I promise you I’m never going to stop fighting for hardworking American families,” Biden said Wednesday. “So if you qualify, you’ll be hearing from me shortly.” Politico reported that “he’s sending emails to make sure they know whom to thank for it.” Indeed, in that email, he says, “I hope this relief gives you a little more breathing room.” It ends with his signature.

Again, he’s also making sure people know who to blame if this money gets taken away from them.

“A lot of people can’t even repay, and they try — they don’t miss payments,” Biden said. “They work like the devil every month to pay the bills.”

What about those of us who worked like the devil and paid off our own student loans? What about those of us whose mortgage and escrow payments have gone up hundreds of dollars a month, not because we bought a new house but because of the inflation Joe Biden caused? Where’s our relief?

We get none. We just get another bill so Biden can buy votes. And, as with rampant inflation, we know whose name is on that bill.

Unfortunately, millions of Americans benefit from Biden’s graft, and Republicans are going to have a difficult time opposing or stopping him. House Republicans passed a bill to block him last year, but it failed in the Senate. He wouldn’t sign it anyway.

Establishing standing in court will likewise be tough; without standing, who can sue? Since Biden began the smaller rounds of debt transfer payments, no major lawsuit has been filed.

No, Biden will likely get away with this, and he knows it. The result will be an entitled generation that is learning to depend on the federal government, more expensive college tuition bills going forward, increased federal debt ($34 trillion and counting), and one more huge chunk missing from the constitutional order of checks and balances.

Biden is “saving democracy,” and we’re all paying dearly for it.

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