by Lepew1
Biden’s inexcusable action yesterday shows why we can not have federal programs that go beyond the enumerated power authority. They always become political footballs at the expense of the American taxpayer.
Ordinarily decisions involving the expenditure of taxpayer money resides in Congress, not the White House. This authoritarian administration does not believe in separation of powers and should be impeached.
The legal authority they stretch beyond credibility to argue for this unconstitutional overstep was a post 9/11 bill that forgave loans in the time of war. That bill should be removed, and any others like it. We have seen how they will be misused to end run Congress. The President never should have any legal authority to make fiscal decisions.
We the taxpayers are footing the bill for Biden’s attempt to buy votes. Even if this measure is denied by legal challenge, the Federal Student loan program should be terminated.
Colleges and Universities have raised tuition some 400% beyond inflation. If they were granting loans to students, they would be taking on the default risk of those loans. When colleges and universities suspend the merit bar to admit an underrepresented minority, then they would assume the risk of that kid dropping out and defaulting on that loan. If colleges and universities turn out graduates with majors in grievance studies and minors in activism, then those colleges and universities assume the risk of them defaulting on the loan. The only way to make colleges and universities accountable for their own bad decisions is to make them responsible for funding student loans. As it presently stands, they are irresponsible in admissions and curriculum, and foist off the consequences of their irresponsibility on the American taxpayer by the Federal Student Loan Program.
Each and every student who takes this forgiveness should have their credit history register this default on a loan of that size. They need to assume responsibility for defaulting. Those who pay it off on their own would then have no such stain on their credit history. What this does is reward good loan behavior, and penalize bad loan behavior.
Look carefully to each and every member of Congress who does nothing about this. They are effectively paving the way for authoritarianism, and giving up separation of powers. Those who do not challenge this are not worthy of their office, and they fundamentally fail the people and forswear their oath of office.