Joe Biden’s strategy to take student loans away from those who borrowed the money and spent it and make taxpayers repay those funds undoubtedly will end up in court.
That’s according to a prominent member of Congress.
Biden, explained U.S. Rep. Ralph Norman, R-S.C., in report at Just the News, “is intent on buying votes, which he thinks he will do. And it’s such a slap in the face of those who didn’t attend college. It’s a slap in the face for those who are going to be saddled with this debt. And everywhere I go in South Carolina, people are livid about this. It’s not fair.”
“I think the lawsuits will come,” he said.
Biden just days ago announced his intent to “forgive” loan amounts up to $10,000 for students who now are making less than $125,000 a year. The amount is $20,000 for students who had Pell Grants.
But the loans are not being forgiven; they’re just being transferred from the students who took and spent the money to taxpayers. Damages to those Americans are estimated to range up to $1 trillion, which likely will end up on the national debt, analysts have confirmed.
Norman said, when asked about legal action, “I would jump all over this.”
He said lawmakers should sue Biden to block his giveaway, because Biden actually is taking the power that constitutionally belongs to Congress.
The report explained, “He said lawmakers home for summer recess are hearing lots of anger about the plan and suggested the conservative and growing Freedom Caucus in the House could take the lead in litigation.”
“I think other members of the Freedom Caucus, and to be honest with you, just members in Congress. We are getting an earful. I think House and Senate, because this has really never been done before. And where do you stop it? Are you going to start making house payments? Forgiveness of debt? Are you going to do car payments? Where does it end?” he speculated.
It was none other that House Speaker Nancy Pelosi, a Democrat, who just last year declared that Biden did not have the power to do exactly what he’s doing now.
She said then that Biden doesn’t have the authority to cancel debts.
Of course, when the political winds shifted to suggest the Democrats might capitalize on such a move, she immediately endorsed it.
She said, in 2021, “People think that the President of the United States has the power for debt forgiveness. He does not. He can postpone. He can delay. But he does not have that power. That has to be an act of Congress.”
Others already are considering what course to take, the report said, including the small business lobby Job Creators Network.
That group defeated Biden’s vaccine mandates for private businesses last year.
“We know that this is going to hurt the economy. … Up to a trillion dollars here that’s going to hurt the economy,” its president, Alfredo Ortiz, told Just the News just days ago.
“We know it’s going to … lead to higher deficits. We know it’s going to lead to higher taxes, because somebody’s got to actually pay the bill. And it’s going to be inflationary.”