He could forgive it all as an “Official Act”
Well he would not be liable to criminal prosecution, but that says nothing of whether the loans have to be forgiven upon his declaration.
The immunity just stops him from facing personal legal consequences and only after SCOTUS confirms any crimes were committed during an official act. How do they test for that? They haven’t said and will make up reasons to help/hurt whoever they want on a case by case basis.
Are there laws Biden could break that would force loan forgiveness, and would the current supreme court side with Biden? Seems like no in both cases aside from more Seal Team Six arguments resulting in a new set of SCOTUS judges ruling on such orders. Biden ain’t the guy to make that happen.
92% of student loan debt is publicly owned through the Department of Education. This department can - and periodically does - write off loans as bad debt for a variety of reasons. And the policies used to determine when the department writes of the loan are set by the department itself.
However, the funding for new loans is derived in large part from the repayment of old debt. So the DoEd could scratch it’s trillion dollar balance off, but would then have this massive liability to the US Treasury with no way to pay it back (not unlike a bunch of the failed private banks during the 2008 crash). And, of course, no new loans would be forthcoming, forcing borrowers into the private lending market (where rates get into the double digits).
There are legalistic end runs Congress or the Treasury could do to avert this. But Dems blocked debt relief in 2009 and then again in 2017. The GOP is openly hostile to any kind of student debt relief, so they’re no help. And the Treasury is just independent enough to tell DoEd to piss up a rope, while backchanneling aid to Silicon Valley Bank and other failed private lenders.
So, it’s complicated. But also, it’s only not possible because we choose to exclusively bail out the Tech/Auto/Finance/Real Estate sectors and leave Education high and dry.
This is like the 5th attempt at this. Of all the things to accuse him of not trying to accomplish, student loan forgiveness is not one of them
“These 35,000 borrowers approved for forgiveness today are public service workers - teachers, law enforcement officials, and first responders who have dedicated their lives to strengthening their communities and because of the fixes we made to Public Service Loan Program Forgiveness, they will now have more breathing room to support themselves and their families,” President Joe Biden said in a White House statement.
Justice Delayed is Justice Denied
What about the rest of the US? Biden made sure again to take care of police first.
The fact that teachers, firefighters, and EMTs sandwich cops in that sentence but you chose to zero in and pretend Bidens only helping cops shows you have a major bone to pick and you’re just choosing to be upset, lol.
teachers, firefighters, and EMTs sandwich cops in that sentence
I know a few teachers and one EMT. None of them have received anything close to a police officer’s salary since Biden took office.
None of them have seen their workforce balloon or received billions of dollars in surplus equipment from the military/national guard, either.
pretend Bidens only helping cops
My city spends something in the neighborhood of a quarter of it’s annual budget on the police. And our veteran Democrat mayor came into office complaining that we don’t have enough cops and they aren’t paid enough.
This isn’t just a Biden issue. The entire party is Blue Lives Matter to the fucking gills.
I know a few teachers and one EMT. None of them have received anything close to a police officer’s salary since Biden took office.
Just to be clear my claim was just that this action to the student loan forgiveness program benefited teachers cops, firefighters, and EMTs, but they instead chose to ignore everyone else benefiting and just choose to get angry at Biden that cops are included.
As you’ve surmised, what you’re seeing is likely due to local, not federal politics.
As a contrarian anecdote, my democratic local government removed qualified immunity for cops, and established a set of unarmed cops for non-life threatening work like minor traffic violations. I’d say that provides equal weight to your anecdote showing that the entire party is not blue lives matter.
teachers, law enforcement officials, and first responders who have dedicated their lives to strengthening their communities
One of these things is not like the others, one of these things does the exact opposite of “strengthening their communities”…
First responders also includes firefighters and paramedics.
Don’t let your broad-brush hatred of cops blind you to things of value.
teachers, law enforcement officials, and first responders who have dedicated their lives to strengthening their communities
Don’t let your boot licking reflexes blind you to what is actually being said
Plenty of LEOs make shit pay and are held hostage by that low pay like the rest of us. I know it may seem like they’re enemies, but when you break it down to dollars and cents, we’re actually in the same boat.
Yeah, you’re right, they’re in our class of poor. But that doesn’t make them any better, in fact it’s worse. They are the enforcement arm of an inhumane and corrupted government, licensed to kill (but only their own). Their compensation isn’t money, what they get is a measure of the same protection from the law that the rich and powerful have.
Those badges mark them as class traitors for as long as they’re wearing them.
That’s one thing I never understood about their willingness to protect the upper class. They’re in no different of a situation from the rest of us, one missed paycheck away from missing rent or groceries.
This is the Biden administration making the program do what its supposed to. If that’s cause for celebration, somethings wrong
What do you mean first? Isn’t this like the fifth round of student loan forgiveness?
then why keep showing the have nots what they’ll never have
everyone wonders why there is a group of voters in the US who disagrees with both parties well this is it
the people forgotten by both parties always lose especially during elections
