Biden's Student Loan 'Forgiveness' Is Unjust, Cynical Abuse of Power

"No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law." That's what it says right there in the Constitution. And yet, without any legislation, President Joe Biden now promises to "cancel" up to $10,000 in student loans per borrower ($20,000 for Pell Grant borrowers), limited to those with annual incomes of less than $125,000.

Let's start by pointing out that Biden isn't "canceling" or "forgiving" any student loans. Those are preposterous euphemisms favored by Democrats and the media. The debt in question already exists, it has been lent and spent, and those who borrowed the money of their own volition have already received services. This debt isn't cancelable.

The president hasn't "forgiven" loans; he's unilaterally broken existing contracts and transferred the responsibility of payment to taxpayers -- many of whom have either repaid their own student loans or never borrowed any money to begin with. Now, if you're opposed to repaying some stranger's loan, that's too bad. A new batch of IRS agents will be there to ensure that you do....

Part of me suspects that the administration understands that the president can't "forgive" debt, and that the effort will be stymied by any Supreme Court that adheres to the Constitution. Democrats likely see the issue as a cudgel they can use to further delegitimize the Supreme Court and hit Republicans as opposing aid of the "middle class." There is no norm this administration isn't willing to cynically destroy for political power.

Congressional Records Prove Biden’s Student Loan Cancellations Are Illegal, by James D. Agresti, Epoch times, 17 September 2022.