President Joe Biden’s $400 billion bribe (also known as student loan forgiveness) in the 2022 election is now blocked on two fronts.
First, in Texas, U.S. District Judge Mark Pittman, one of about 300 federal judges appointed by former President Donald Trump, ruled the initiative unconstitutional. The judge rejected Biden’s claim that the 2003 Heroes Act would give him the power to wipe out those loans. According to the judge, the act concerned financial assistance to military personnel during war or other emergencies.
The lawsuit was brought by the Job Creators Network Foundation on behalf of two students with ineligible loans.
A federal appeals court has now issued injunctions blocking the program from proceeding against six states that have filed lawsuits challenging the legality of this loan forgiveness program.
The Wall Street Journal called the loan write-off action “the greatest presidential abuse of power in decades.”
I already wrote about the stupidity of this loan forgiveness program.
Our private debt market is doing very well with regard to loan management and defaults. When governments get into the business of providing loans, the problem of excessive defaults arises. Loans will inevitably be structured and aimed at political ends.
And these student loan programs only exacerbate the real problem of the enormous cost of a college education. Over the past two decades, college tuition and textbook costs have risen at inflation rates more than double his national average.
Universities are basically subsidized by government programs designed to help students pursue higher education.
But this massive loan forgiveness initiative is also an example of the terrible political opportunism that inevitably comes from the accumulation of government power.
Biden reached out to tens of millions with college loans and offered to wipe those loans out just before the election when his party’s prospects didn’t look promising and his own polls were poor. Is it possible that the timing was a coincidence?
A week before the election, Biden said at the White House that our democracy is “in danger…democracy depends on this year’s vote.”
The president called the election “a good day for democracy” now that the election turned out better than expected for the Democrats.
No one has accused Biden of being a deep thinker. But it should concern every citizen that his assessment of the state of our democracy is based on his party’s success in voting.
During his remarks at the White House, the president stumbled upon the truth.
“We, the people, must decide whether the rule of law will prevail or allow the dark forces to thirst. Our thirst for power takes precedence over the principles that have guided us for so long. will be
Similar inappropriate and politically motivated actions by Biden have been seen in the recent release of oil from the US Strategic Oil Reserve. As noted by John Hill, who was involved in the legislation that created the reserve, the reserve exists for national security in the event of a “serious energy supply disruption.” When politicians find this avenue, they are not there to manipulate oil prices.
Fortunately, even conservatives and Republicans who are disappointed with the outcome of these elections, as evidenced by these court decisions that have closed the door on this abuse of power by the President, I can feel positive that there is still the rule of law in
As Pittman wrote in his opinion, “This country is not ruled by an all-powerful cadre with a pen and a phone. Instead, we have three separate and independent branches of government. It is governed by a constitution that provides
Star Parker is director of the Center for Urban Renewal and Education and host of the weekly television show.
“Cure America with Star Parker”