Biden’s $5B Debt Forgiveness Scheme Defies Supreme Court Ruling

In 2022, the bumbling President Joe Biden made a grandiose promise to forgive a whopping $400 billion in student loan debt for over 40 million borrowers. But surprise, surprise, his plan was struck down by the Supreme Court in 2023. Looks like Biden’s so-called “executive authority” didn’t hold up to scrutiny. But does that stop him? Of course not!

In a blatant disregard for the rule of law and the high court, Biden has unveiled a new, albeit much smaller, student loan forgiveness program. This time, he claims it will wipe out a pitiful $5 billion in debt for a mere 74,000 borrowers. Talk about shooting for the stars!

According to PBS NewsHour, this new plan is a continuation of Biden’s desperate attempts to pander to his voter base. He’s now targeting borrowers who have worked in “public service.” Teachers, nurses, firefighters, and other individuals who apparently think they deserve special treatment just because they chose a noble profession. Sounds like a typical liberal move to reward those who made “sacrifices” for the greater good. But what about the hardworking taxpayers who foot the bill for these “heroes”? Where’s their relief?

But wait, there’s more! Just days before unveiling this latest “plan,” Biden announced yet another separate debt cancellation program. Apparently, he can’t keep track of all the promises he’s making. This one is supposed to provide relief for potentially millions of borrowers. How generous of him to give away other people’s hard-earned money!

In true Biden fashion, he took the opportunity to pat himself on the back for his previous “successes” in the realm of student loan forgiveness. He mentioned the other limited programs he claims have benefited over 3.7 million borrowers. But let’s not forget, those programs are just Band-Aids on a gaping wound created by the Democrats’ reckless push for higher education for everyone. It’s time for personal responsibility, folks. If you took out a loan, you should pay it back. Simple as that.

Oh, and we can’t forget the accelerated rollout of yet another provision of Biden’s SAVE program. Apparently, he couldn’t wait to give away more money, so he moved up the timeline by six months. Borrowers who have been making payments for ten years and have less than $12,000 in debt will get a free pass. Talk about rewarding mediocrity! But hey, it’s all part of Biden’s plan to appease the community college crowd and low-income borrowers. Because why encourage hard work and fiscal responsibility when you can just hand out freebies?

Let’s not forget that the Supreme Court has already slapped Biden’s hand for his overreaching antics. In June 2023, the Court ruled, in a 6-3 decision, that his initial debt relief plan was a wild overstep of authority. The plan, which would have forgiven over $400 billion for more than 43 million borrowers, was rightly deemed unconstitutional. But does Biden learn his lesson? Definitely not, as evidenced by his latest schemes.

It’s clear that Biden is willing to disregard the Constitution and the highest court in the land in order to buy votes and satisfy his socialist base. But as conservatives, we know that the government should not be in the business of forgiving personal financial obligations. It’s time for Biden to stop playing Santa Claus with other people’s money and start focusing on real solutions that promote personal responsibility and fiscal discipline.

Written by Staff Reports

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