Staff Reports
In a predictable turn of events, a trio of Republican-led states have taken it upon themselves to save America from yet another costly Biden debacle. Alaska, South Carolina, and Texas have implored the Supreme Court to put a stop to the latest Biden administration boondoggle—his so-called “Saving on a Valuable Education” (SAVE) Plan, designed to slash student debt repayments for millions of borrowers, primarily lower-income ones. Well, bless their hearts for trying to rein in a President bound and determined to bankrupt the nation one hair-brained scheme at a time.
Biden’s SAVE Plan emerged from the ashes of his ill-fated broader student loan forgiveness initiative, which the Supreme Court humorously torched last year. Someone must have forgotten to inform Biden that bypassing Congress with sweeping debt cancellations isn’t just bad policy, it’s unconstitutional. Yet here we are again, with the President cooking up another half-baked plan meant to pander to his voter base, coincidentally just months before the 2024 presidential election. How convenient.
GOP-led states ask Supreme Court to review Biden student loan plan https://t.co/zTjnMf5vko via @dcexaminer
— Mike (@gupdiver) July 10, 2024
Not too long ago, the 10th Circuit Court of Appeals decided to lift a temporary halt on Biden’s newest ploy, giving the Department of Education a green light to proceed. Enter the heroes of the hour: the attorneys general of Alaska, South Carolina, and Texas, who are now calling on the Supreme Court to intervene with all due haste. According to these states, the Tenth Circuit’s move conflicts with past Supreme Court decisions and undermines Congress’s authority. Pretty cut and dry, one would think.
Around 8 million borrowers are hanging their hopes on the SAVE Plan, with nearly 3 million having expected to start making lower payments starting last July. Unfortunately for taxpayers, the reality here is striking. The SAVE Plan bases monthly payments on income and family size, with almost 4 million people qualifying for a $0 monthly payment. In other words, the rest of America foots the bill, with the Penn Wharton Budget Model estimating a staggering $475 billion hit to taxpayers if Biden’s plan holds up.
Complex legal machinations aside, the bottom line is simple: the SAVE Plan is yet another attempt by an administration hell-bent on socializing debt at the expense of hardworking Americans. The Supreme Court previously ruled that the secretary of education doesn’t have the authority to forgive student loans en masse, yet here comes Biden again, hoping no one remembers that inconvenient detail.
While litigation continues, provisions of the SAVE Plan which provide relief for ballooning debt balances due to unpaid interest remain untouched by these legal challenges. Meanwhile, the state plaintiffs are urging the Supreme Court to hear their case posthaste, suggesting either an affirmation of the district court’s ruling or an expedited review.
In summary, it’s quintessential Joshua Biden—spending like there’s no tomorrow while subverting the legislative process. Let’s hope the Supreme Court doesn’t fall for this costly charade a second time.
