King Biden & Queen Harris Overrule Supreme Court On Student Debt Forgiveness

King Biden & Queen Harris Overrule Supreme Court On Student Debt Forgiveness Authored by Mike Shedlock via MishTalk.com,Biden repeatedly acts like he is above the law. So who’s the threat to Democracy?Biden Tries to Overrule Courts a Third TimeThe Wall Street Journal reports Biden Snubs the Courts Again on Student Loan Forgiveness‘That didn’t stop me,” President Biden declared after the Supreme Court blocked his $430 billion student loan write-off in 2023. It sure didn’t. After striking out in court with three debt forgiveness schemes, the Administration on Friday unveiled another. Take that, judges.The Education Department says its proposed rule would authorize forgiveness for some eight million borrowers experiencing “hardship.” Under the rule, the department can discharge debt if it calculates a borrower has an 80% likelihood of defaulting on payments within the subsequent two years based on 17 factors such as income, debt balances and assets.The rule would effectively let the department forgive debt of any borrower any time it wants. The administration says high child-care costs could qualify as a hardship. How about high auto loan or credit-card payments? Did someone say moral hazard?In April the department released a plan that cancels accrued interest for 25 million borrowers and forgives debt of those who entered repayment over 20 years ago or who “enrolled in low-financial-value programs”—meaning, forprofit colleges. The plan also promised to waive debt for borrowers with a “hardship.”A federal court last month blocked that plan, but the department says its new rule “would operate separately and distinctly.” Courts are playing whack-a-mole with the Administration’s debt write-offs that end-run Congress, which never authorized such broad-based debt forgiveness.Such lawlessness is one reason so many Americans discount the left’s assertions that Donald Trump endangers democracy. Mr. Biden acts like he’s king, and Democrats and media voices cheering him on have no standing to object if Mr. Trump follows the Biden precedent.Queen HarrisPlease recall that when Harris was asked what she would have done differently than Biden, she could not come up with a single thing.She supports Biden’s energy policy to ban gasoline engines, Biden’s immigration policy, the Inflation Reduction Act, Medicare for All, and student loan forgiveness.She lied about supporting fracking, backed off that, and now the lie is back on again.The NYT Has Another Great Poll for TrumpIf you missed it, please see The NYT Has Another Great Poll for Trump, Tipping Point is ImmigrationIn yet another display of momentum for Trump, the New York Times has Trump tied nationally.On October 21, I commented October 21: In California, Harris Is Down 21 Percentage Points With Latinos vs 2020And while the The Immigrant Crime Spree is Real, Not Imaginary, Thank Harris and Biden that’s not really what the backlash against immigration is really about.If people were not struggling with shelter, food, insurance, etc., they would not be so upset with immigration.The backlash against immigration is really a backlash against inflation and the economy. That is what’s behind the shift towards Trump.And it’s why this election is not the tossup everyone says it is.Finally, Trump is Trump, but Harris is nothing but Biden with a very annoying laugh. Tyler DurdenMon, 10/28/2024 - 06:30

Authored by Mike Shedlock via MishTalk.com, Biden repeatedly acts like he is above the law. So who’s the threat to Democracy? The Wall Street Journal reports Biden Snubs the Courts Again on Student Loan Forgiveness ‘That didn’t stop me,” President Biden declared after the Supreme Court blocked his $430 billion student loan write-off in 2023.

It sure didn’t. After striking out in court with three debt forgiveness schemes, the Administration on Friday unveiled another. Take that, judges.

The Education Department says its proposed rule would authorize forgiveness for some eight million borrowers experiencing “hardship.” Under the rule, the department can discharge debt if it calculates a borrower has an 80% likelihood of defaulting on payments within the subsequent two years based on 17 factors such as income, debt balances and assets. The rule would effectively let the department forgive debt of any borrower any time it wants.

The administration says high child-care costs could qualify as a hardship. How about high auto loan or credit-card payments? Did someone say moral hazard? In April the department released a plan that cancels accrued interest for 25 million borrowers and forgives debt of those who entered repayment over 20 years ago or who “enrolled in low-financial-value programs”—meaning, forprofit colleges. The plan also promised to waive debt for borrowers with a “hardship.

” A federal court last month blocked that plan, but the department says its new rule “would operate separately and distinctly.” Courts are playing whack-a-mole with the Administration’s debt write-offs that end-run Congress, which never authorized such broad-based debt forgiveness. Such lawlessness is one reason so many Americans discount the left’s assertions that Donald Trump endangers democracy.

Mr. Biden acts like he’s king, and Democrats and media voices cheering him on have no standing to object if Mr. Trump follows the Biden precedent.

Please recall that when Harris was asked what she would have done differently than Biden, she could not come up with a single thing. She supports Biden’s energy policy to ban gasoline engines, Biden’s immigration policy, the Inflation Reduction Act, Medicare for All, and student loan forgiveness. She lied about supporting fracking, backed off that, and now the lie is back on again.

If you missed it, please see The NYT Has Another Great Poll for Trump, Tipping Point is Immigration In yet another display of momentum for Trump, the New York Times has Trump tied nationally. On October 21, I commented October 21: In California, Harris Is Down 21 Percentage Points With Latinos vs 2020 And while the The Immigrant Crime Spree is Real, Not Imaginary, Thank Harris and Biden that’s not really what the backlash against immigration is really about. If people were not struggling with shelter, food, insurance, etc.

, they would not be so upset with immigration. The backlash against immigration is really a backlash against inflation and the economy. That is what’s behind the shift towards Trump.

And it’s why this election is not the tossup everyone says it is. Finally, Trump is Trump, but Harris is nothing but Biden with a very annoying laugh..