The courts are busy. This one goes against Biden. Economic repercussions are significant.
Student Loan Debt Cancellation Blocked
The New York Post reports Biden’s $475B student debt cancellation plan blocked as federal appeals court issues final decision
A federal appeals court delivered a crushing blow Tuesday to a more than $475 billion student debt cancellation program begun by former President Joe Biden, ordering the underlying regulation be blocked in its entirety.
The Eighth US Circuit Court of Appeals had partially blocked the loan forgiveness effort last year — but a three-judge panel at the St. Louis-based court issued a final judgment to a lower court prohibiting any part of the initiative from taking effect.
Judge L. Steven Grasz in a 25-page opinion ruled that Biden’s Education Secretary, Miguel Cardona, had “gone well beyond” his constitutional authority in creating the Saving on a Valuable Education (SAVE) plan.
“Rather than implying by omission or other ambiguities, Congress has spoken clearly when creating a repayment plan with loan forgiveness or otherwise authorizing it — explicitly stating the Secretary should cancel, discharge, repay, or assume the remaining unpaid balance,” Grasz wrote, finding “no comparable language” in the SAVE Plan.
In 2023, the Penn Wharton Budget Model estimated the so-called “repayment plan,” which Grasz said allowed for student debt to be “largely forgiven rather than repaid, would cost taxpayers $475 billion over the next decade.
That was after $1.2 billion already went out the door to student borrowers under the program, which started in February 2024. Around 7.5 million Americans signed up for debt cancellation in all.
“We obtained another court order BLOCKING an illegal Biden-era student loan scheme,” Missouri AG Andrew Bailey crowed on X. “Though @JoeBiden is out of office, this precedent is imperative to ensuring a President cannot force working Americans to foot the bill for someone else’s Ivy League debt.”
In total, the Biden administration cancelled around $183.6 billion in student debt.
“He isn’t ‘forgiving’ debt. He is taking the debt from those who willingly took it out to go to college and transferring it onto taxpayers who decided not to go to college or already paid off their loans,” Sen. Bill Cassidy (R-La.) charged in a statement last year.
Supreme Court Chief Justice John Roberts wrote in the majority opinion striking down the first $430 billion effort that an education secretary “has never previously claimed powers of this magnitude.”
Student Loan Borrowers Are Losing 100+ Credit Points
The College Investor reports Student Loan Borrowers Are Losing 100+ Credit Points
For thousands of federal student loan borrowers, the past few weeks have been a wake-up call. As credit monitoring services send out alerts, many are realizing that their credit scores have dropped by over 100 points—some by as much as 200—due to missed student loan payments.
The issue stems from student loan servicers now reporting 90-day delinquencies to credit bureaus after the federal repayment “on-ramp” period ended.
Collection activity and negative credit reporting was turned off during the payment pause from March 2020 to August 2023. After that, borrowers had a grace period protecting them from negative credit reporting between September 2023 and September 2024, which has now expired.
If we rewind the clock on student loan payments, it’s important to remember that payments were automatically paused for most borrowers starting in March 2020. After multiple extensions, that pause officially ended in August 2023. During the pause, negative credit reporting and collection activity were also paused.
To help ease borrowers back into repayment, the government created a one-year “on-ramp” period from September 2023 to September 2024. During this time, missed payments wouldn’t be reported as late, preventing credit damage.
But as of October 2024, missing payments once again counted toward delinquency. By February 2025, borrowers who hadn’t made payments since then began seeing the impact—90-day late marks appearing on credit reports.
Economic Impact
Money that was spent on vacations, movies, rent, food, or whatever, will now be forced towards payments on debt.
And due to credit dings, it will be harder to get an auto loan or a mortgage.
On February 14, I noted Retail Sales Crash – Did the Consumer Finally Throw in the Towel?
The Census Department shows huge across-the-board declines in multiple categories, down 0.9 percent overall.
The shutdown of illegal immigration and student loans may both have contributed.
At the margin, this is quite recessionary.
Perhaps you should have entitled this piece “Biden and Dems crush student loan borrowers with illegal vote buying scheme”
I was married and worked through college. Paid off my loans as my #1 priority. I had no backstop, no family wealth, no family credit. no one was ever coming to help me. That’s life. No one ever came. I had a great life. Now I’m retired and I’d like to cash-in my degree…but…no market for obsolete knowledge these days.
Paid for my education, worked night shift, lived at home to afford school tuition, and paid off my loans.
Joe Biden administration turned our country upside down to shackle the taxpayers.
There should be some kind of claw back for all the arm they got away with and still not addressed by the Democrats, who just see Trump as the problem in or country.
I went to school full-time and workedi full-time I paid my own way as soon as student loans became available, tuitions and book prices skyrocketed if they shut student loans off tuitions would plummet because universities would be forced to get rid of the fat.
Ironically, when he was a senator, Biden voted to prohibit student loan debtors from discharging their obligation through personal bankruptcy. Could it have something to do with representing Delaware?
Claw back any losses by a tax on colleges, particular athletic revenues and scholarships.
My wife and I were standing on a Bluff overlooking the Atlantic in Portugal. A young couple were standing there. I Finally asked them: “How are you affording this trip to Europe for 3 months?”
“We are using our student loan money.”
A revelation. How did they do it?
Well at least the “right” people got their loans forgiven… members of congress who took out hundreds of thousands of dollars in PPP loans. Loan forgiveness for me but not for thee!
Yes, the students should have to pay their debts and the PPP recipients should also. This persistent debasement of the dollars value by printing money to hand out is wrong and shows weakness in the USA.
The private sector made better student loan decisions.
For such an erudite, Biden-hating forum, I cannot believe not one commenter has laid the blame for the student loan mess and out-of-control tuition costs EXACTLY where it belongs — at Joe Biden’s 2005 Bankruptcy Abuse Prevention & Consumer Protection Act, which made student loan debt non-dischargeable once and for all. And it was GWB who signed it into law, not Clinton (although Hillary Clinton did try to roll back her husband’s 1998 law in 2006, to no avail).
Biden’s ridiculous and performative attempts as President to mitigate the damage of his 2005 act were nothing more than an old man trying to get into Heaven, as Cosby quipped all those years ago about his “abusive” mother.
https://www.savingforcollege.com/article/history-of-student-loans-bankruptcy-discharge
We were waiting for you to do it! Yes, student loans should not be treated any differently than any other unsecured debt. It should be dischargeable in BK. The government should also be OUT of the student loan business. Lenders would then assess what the student wants to study. No student loans for poetry degrees.
No loans for
gender studies
sociology
psychology
communications
dance
physical education
basket weaving
black history
ebonics
turf management
golf
art history
climatology
home economics
Oh, come on now! GOLF?
I have discussed the Bankruptcy reform act of 2005 many times.
Signed By Bush.
Yes, that 100% goosed the problem
I thought Bush extended the discharge exemption from 5 to 7 years from taking out the loan, and Clinton extended that to infinity, effectively making it non-dischargable. Splitting hairs, I guess. I only bring it up since I thought it appropriate to make it dischargable, but put a time period within which it shouldn’t be eligible to avoid the student pump-n-dump, but I found out after your post that it used to be that way.
“biden’s act” this is misleading biden voted for it… and as thus is a dog who should be lashed until he drops. but make no mistake this was GOP driven bill with the vast support from the GOP and signed by GOP president. I dont say this as a partisan but but people like chuck grassley and his ilk are much more responsible for this bill. to call it “bidens bill” (and by extention democrats) is just partisan hackery at its basest level.
Nah, it served Biden’s constituency of banks and CC companies perfectly at the expense of ordinary people, and it underscores the fact that Biden, and the Democratic Party as presently constructed, are indistinguishable from Neocons. They may be in opposition to MAGA (big “may”), but they are not in opposition to the Republican Party.
As for “partisan hackery,” I am staunchly anti-MAGA and simultaneously disgusted by the lack of a true opposition party. Dems are incompetent at best and complicit at worst. Partisan hackery is defending Biden, the greatest “lesser of two evils” in American history.
At least we hate some of the same people.
Biden’s student loan forgiveness scam was about buying votes; replacing the diminishing number of unsatisfied, working age, working class democrat voters.
Unsatisfied because illegal immigration had driven down wages and driven up the cost of living (housing, insurance, food, etc)
Same scam with Biden’s 4 years of open borders.
Bring in the hoards, subsidize every living expense in their lives and remind them that a democrat did it for them.
And, that was still not enough, as Trump won the popular vote and electoral vote.
Continually selling out your own people and country is not a viable political plan.
Very pleased that my kids graduated with good degrees & zero college debt. I’m sure other parents whose kids made the same smart decisions are proud as well.
The gravy train is ending. MPO45v2 may very well be right. Trump’s policies might eventually create a recession, or they might not.
While a recession will certainly be unfortunate, the good news is that it won’t be the last one either. And as we all know, housing price sanity only returns with such an event, along with all sorts of other out of whack prices like property taxes & insurance.
I’m certainly not wanting one to happen, but I full recognize that one is overdue. March to April of 2020 wasn’t a real recession by traditional standards. So, we’re going on 16 years. We don’t call it the mother of all bubbles for nothing.
History of repubs causing market chaos…
https://www.youtube.com/watch?v=_zolT2xHEZk
Except this time it may be a depression with Tariff “Hoover” Trump in command of the sinking ship.
As I’ve always said – what this country needs is a good depression.
And each of these recessions in my lifetime were preceeded by Democrat policies that made recessions inevitable. Think Johnsons “Great Society” and The Vietnam War with massive spending forcing Nixon to close the gold window. Clinton repealing Glass-Steagall setting up the 2009 Finacial Crisis. Now, Biden’s massive spending and stimulus bills causing the highest infaltion in 50 years. Thank God this Tuition Cancellation program was cancelled.
Love those videos from Bravos Research.
So, here’s the thing. Republicans are great for creating an expanding economy which at some point has to crash.
The Great Depression was caused primarily by an array of problems resulted from the end of WWI.
The recession in the mid 1970s was caused primarily by high oil prices that combined with growing budget deficits and interest rates that were lowered too soon.
As for the great recession, well that was primarily lax lending standards that could be traced back to the Clinton administration prior to W. Oh, and the explosion of the derivatives market in the late 80’s didn’t help.
But, the interesting part is that there’s usually Dems running the show for periods of time just prior to the recessions starting.
So the reality is that there’s more than enough blame to go around. Ultimately though, someone / president is left to clean up the mess.
This time it’s Trump’s turn, so stop acting like YOUR BOY BRANDON didn’t have a hand in creating these out of control asset bubbles that will eventually burst.
I don’t think the solution is borrowing trillions a year. The only way to stop it is to stop spending. No one should complain about cancelling the reckless behavior of US-AID.
At the Margin, this is not much… $450 billion over 10 years is less than $4 billion per month. That’s at most a 0.2% shift to an economy of $2000 billion/month. The reality will be much less than that because the recipients of the loan repayments will most likely still be spending the money. It’s more likely to be a transfer of economic activity than a net reduction.
P.S. The whole “loan forgiveness” vote-buying farce demonstrates exactly why the Federal Government should not be in the student loan business at all!
IWM plunged 2.88% this Fri, in a shakeout day, on high vol, and closed at: 217.80 on top of Oct 31(c) at 217.76 and above Jan 10 close, while closing Jan 14/15 gap.
The federal government / GSE should stop providing student loans and guarantees. Let the colleges, especially those with high tuition, put their money where their mouth is and stand behind their product, including admission criteria, majors and credit worthiness. Use the college endowments over a certain amount to be in a Superfund pool to pay on defaults. I’d expect the cost to go back down to meet curve starting around 50 years ago, adjusted for CPI only.
Well said, it is about time for the end of the something for nothing deal.
Agreed. Just get the Federal government out of education as much as possible.
Everyday Trump does his best to bring on the next recession. The fallout from tariffs, mass layoffs, inflation, policies and trade wars is going to hurt everyone.
Markets down 2% across the board and it’s only the start.
Economic collapse
Public unrest
Martial law
Purge opposition
Dictatorship
These 5 easy steps will shock you!
From your lips to God’s ears
It was a court decision, but can’t let facts get in the way of TDS. You really should have that looked at.
At least make an attempt to write rationally.
If you make a commitment in life, whether it be by marriage or a financial commitment, then follow through! If you change your mind prematurely about the decisions you have made in the past, then there should be consequences. If you say I do at the altar, or say I do when taking out a loan, and you don’t fulfill those commitments then there should be hell to pay, not forgiveness. I’m sick and tired of the emotional rescue we have paid as a society. Man up!
ridiculous comment. business people/bankers can make horrible decisions but no matter how bad they are either protected behind a corporate entity with bailouts or they go bankrupt and are right back at it again 7 years later. student debt is not dischargeable in courts under bankruptcy. the solution is to stop giving loans from the government altogether and let loans be discharged in bankruptcy. that would bring education cost back to earth and let people who make a bad choice at 18 bounce back. current system is immoral.
And who besides the Government is going to make dischargeable unsecured loans to 18 year olds who have no income and no assets? Will repayment be deferred until graduation?
Right after learning that if I step into traffic I will be hit, I should learn that if I have unprotected sex I am taking wild risks, and then immediately, if I borrow money, it must be paid back dime for dime, with interest. Every penny. This is the backbone of our ethos and our system and our business. None of these things is a silly game, so why are we seeing these numbers? But, hard to say what the influence of the new big guy is either, considering he skipped out on (OK, “renegotiated,’ managed to not pay) personal guarantees to vendors in the course of multiple bankruptcies, while crowing about the wonders of debt and bankruptcy. I have paid every penny of every debt I ever had.
a lot of loans never get paid back. a lot of “job creators” go out of business and never pay back loans. this idea that you have to wear a debt around your neck like a millstone for the rest of your life needs to end. students with debt should be able to discharge in bankruptcy or restructure debt just like every corporation has the privilege to do for bad choices
They should make the colleges pay it all back for breach of contract.
. After all, ostensibly they were supposed to confer a viable education…..
Students may think twice before signing up for programs that do not translate into job offers upon graduation.
They’ll also have a hard time renting with any landlord who runs credit reports. Some landlords are REQUIRED to run credit reports every time there is a new and/or renewed lease. Most associations require credit reports to be run with every lease (new or renewed). Landlords have plenty of takers so they don’t need to take credit delinquents. Actions have consequences. These people knew the Supreme Court already previously ruled on another of Biden student loan forgiveness programs so they should’ve been paying their student loans until they were actually paid off. This is a big win for the American tax payers.
College educated young adults could not understand what you just expressed in a paragraph. That means that the colleges let their students graduate lacking critical logic and thinking skills. Or at least basic home economics knowledge.
Those loans were made out of thin air. They generated a ton of interest, and then they were recalled once they ceased to generate any more profits. The real evil of the scheme is that family cost-splitting was abolished; before this, families with two kids in college could expect costs to be split so as to make them more affordable. With this evil loan forgiveness scheme, that ended and families would HAVE to take out loans, or more loans to cover the other kids. This guaranteed to cover any potential interest profit loss when the 10 year old loans were recalled. It was all a devious plot to enrich the big bankers who donated to Brandon and Kamala, nothing more.
Best of all, most of those degrees are worthless.
Some degrees are worth less than worthless. Would you hire a fresh high school graduate or a fresh uni graduate with a liberal arts degree in black lesbian performance art? You know that the degree holder will be a messed up Karen.
Depends on the job. That liberal arts degree could come in handy wiping Biden’s backside when the splatter overwhelms the undergarment.
Focus on the crime here… these students are victims of highway robbery. The solution is to punish the universities and have them refund the outrageous tuition paid.
finally a good take. University operate more like hedgefunds now than places of higher earning
I like the ring of “Endowed Universities are places of higher earning”
But relatively few universities have giant endowments or act like real estate tycoons.
—
Finally, My Tax Dollars Are Being Used to Uncover Publicly Available Government Informationhttps://www.mcsweeneys.net/articles/finally-my-tax-dollars-are-being-used-to-uncover-publicly-available-government-information
This is no different than the 2009 housig crisis. When you make it easy to get credit, you produce bubbles. The whole secondary education system is in a bubble. Universities are swimming in cash. For example, the university I worked at replaced the elavator carriage in our building. The professors and staff complained about the new color so the University spent $10k to have it repainted. It was a special paint designed to replicate a metal surface. The painting contractor told me he had to go to a class to learn how to apply this special paint. HOnestly you think I could have made this $hit up?
My bank is still offering 3% down payment home mortgages. I suspect that there is a Federal agency backing these mortgages.
FNMA & FHLMC. FHA requires a whopping 3.5% down.
Thank God for a return of, “Decisions have Consequences”. While that worldview was on hiatus, the economy was permanently scarred. I’m also looking forward to the end of the supply shock that was not able to keep up with the demand created by a literal flood of illegal immigrants.
Illegal immigration was massively pushing up CPI inflation in the food and shelter components. Don’t believe me? Deport ten million illegal immigrants *tomorrow*, and tell me what effect it has on “asking rents” a month later.
The Biden administration put illegal immigrants in the “qualified immigrant” category, making them eligible for a flood of federal payments. That includes the SNAP subsidy, that has done nothing but push up food prices.
you jokers never miss a single opportunity to somehow weave immigration into ever topic. How tedious.
Tens of billions of federal dollars have been spent of funding the education of illegal immigrants, so yeah its relevant. The money flowing to illegal immigrants has been like trying to fill a colander from a faucet. It has touched everything, so yeah, it is relevant to every economic discussion covering the last four years. I’m betting you are a landlord who is enjoying all this, but I’m a guy who has to deal with the inflationary consequences of a $2 trillion annual federal budget deficit.
Theoretically thats $460b but realistically how much of that will be collected? I would guess about half and the rest will have to be written off as uncollectible.
You can’t file bankruptcy on student loans so it will be collected sometime in their lifetime. They won’t get a mortgage with it past due. IF they get an auto loan rates will be very high.
In Q1 2023 student loans were: $1.774T. They dropped $45B to: $1.73T in Q4 2023. Thereafter they popped up to: $1.777T in Q4 2024, a new all time high, on higher interest rates. Trump might eliminate, or sharply cut, the Dep of Education. State colleges started closing universities and shuffle their workers. They built dorms to charge $40K from foreign students expanding faculties.
Cool: evidence that the 3rd branch of government is still intact.
Now calling on 2nd branch…
but it seems non-responsive…
like a “Ferris Bueller’s Day Off” roll call.
I hope the Canadians calm down now after we let them win at hockey.
They need to get over the whole “betrayed by a close ally” conniption.
The US doesn’t have “allies”. It has vassals and a couple of co-conspirators (UK & Israhell).
Not really for or against the student loan forgiveness. I paid for my college degree. BUT why is there not this level of outrage from the Right when the government takes care of the Farmers? Trump handed out $35 billion to farmers during his first term. I’m pretty sure some of that money was used to pay off farm loans. How is this any different? Both sides made a bet, be it, a degree or a business decision and both lost. At least be consistent with your outrage. Tired of the hypocrisy.
same reason everyone on this site was apoplectic when checks stimy checks get sent to everyone equally, but never a peep about PPP loans which was a giant ocean of fraud and theft, because business people are pure angels who never lie and cheat i guess.
Kill the ethanol in gasoline requirement.
I upvoted you, but in all seriousness, the answer is probably because people believe that in some way,farmers benefit everyone who eats.
On the other hand, there are college degrees that don’t benefit nearly all of society as a whole, especially in the anecdotal case where the borrower drops the class, gets a “refund“ of the money and then instead of using it for a student loan repayment uses it for something fun or even doesn’t drop the class but borrows enough to take a vacation.
You really have to feel for some of the stories about student loan repayment, like making minimum payments for 20 years and not making a dent on the principal. It seems like there are bipartisan fixes (meaning Congressional action and not presidential executive orders) that are possible. For example, reducing the student loan interest rate – like what DJT is proposing to do with credit card rates. Or something like mortgage loans and requirements for the lendee to demonstrate income (or anticipated income) vs. the amount borrowed. The impact of student loans on future generations is significant in terms of fewer children, delayed marriages, etc. Another alternative is for colleges to overhaul their entire system to reduce costs, but I doubt that will happen by choice – by necessity/crisis it could.
Reducing the rate would also be at taxpayer’s expense. Focus on the crime here… these students are victims of highway robbery. The only solution is to punish the criminals and have the universities refund their outrageous tuition.
The only solution is to not have sooooo many stupid people taking out these outrageous loans. People don’t think of the repayments later. People are graduating high school and don’t even know how to balance a checkbook.
Who the hell even writes checks anymore? Plus all banks track all transactions online, which can conveniently be imported into your favorite spreadsheet or tax program for reconciliation.
I still write checks….quite a few each month.
Do you really think the average young person does this? They don’t even ask for receipts when they use their debit and credit cards.
Silly boomer, checks are for the old.
If someone is making monthly payments for 20 years and not making a dent on the principal, I would argue that it is two-way robbery. Agree that they shouldn’t be taking out loans if they can’t pay. It’s a sad situation all around and one that does not have easy answers but has major repercussions…like many things these days that have gotten out of hand. If the interest rate is lowered by decree, is the taxpayer really on the hook for the difference? What will happen if the credit card interest rate is reduced – won’t it mean more in the pocket of the lendee and reduced income for the lender? The taxpayer is on the hook for debt forgiveness because the lender is still being paid with public funds.
An economic serf must remain a serf. Class mobility is over.
Excessive college debt is a direct result of bad judgement. I learned the hard way with my children. My first one went a way for two years until she decided to switch majors from math and teaching to finance. At that point I wised up and made her come home and switch to a local university that she could commute to. Already my cost was cut in half. For my son I asked his student counselor at a parent teacher meeting what he suggested for him. My son was undecided as to what field he was interested in. Anyway, the counselor said he always suggested community college for 2 years first. Unfortunately I never even considered that even with my daughter. What a shocker, its practically free. When my wife told me what the tuition was I asked when they wanted the balance. I made her check and she that amount quoted was full tuititon. WTF what a waste of money for those first two years of my daughers education, Anyway after two years in communiiuty college my son transferred all of his credits to the University of Michigan and got a math degree. He now makes a great living working for an investment bank. The moral of the story is for those kids paying their own tuition to go to both a community college and then a local commuter university and save a lot of money. Also getting a degree in something marketable and well paying is essential. To many students go to college to party and get a useless unmarketable degree.
RE “making minimum payments for 20 years and not making a dent on the principal”
(1) The principal already been reduced about 30% by inflation over the past 20 years.
(2) A college student ought to know how to correctly calculate their own appropriate minimum payment, to amortize the loan when they wish. That failure is on them.
Disallowing the discharge of student debt in a personal bankruptcy has contributed to massive expansion in student debt. It created a predatory lending environment. What are the pitfalls of allowing parents, grandparents or family friends a tax deduction if they pay off a student’s debt? This would not be debt forgiveness, nor would it be cost free to the US, but the government created this mess by disallowing the discharge of student debt through personal bankruptcy, so perhaps it is a fitting alternative.
‘nor would it be cost free to the US’ …again, why punish the US taxpayer?
Because “the taxpayer” elected the stupid government!
(although ~50% of population doesn’t pay taxes …remembering that FICA is not a tax)
This exactly. When Clinton effectively disallowed student debt discharge, it boosted an already failing system into today’s corrupt education system. BR should be allowed, but perhaps only after 10 years to avoid a pump and dump by the student, or better yet, revoke any degrees earned.
Maybe force accredited schools to issue loans – maybe the best route.
Where do they get the cash for that?
The economy is running on fumes, and that’s on Obama, Biden and Trump 45. Trump 47’s bombast will do nothing to revive it. Revival depends on correcting long term dependence on borrowing from tomorrow to pay for party-time today. Tomorrow is now today and the piper must be paid out of today’s hard work and thrift. Living standards in the USA will decline, and there’s no short term fix for that.
Why are student loans the only ones exempt from bankruptcy ? Similar to child support i guess, but then you get an entire group of people who never pay anyway……or you go to jail.
The genius idea was this would encourage the private lenders to give unsecured loans at below market rates. It wasn’t until Obama removed the private lenders from the scheme and made the Federal government the primary lender where that provision should have been dropped.
Simple. This was yet another gift to the banks by Clinton.
Because everyone would use them to go college, then the day before they get a job they would file for bankruptcy, becuase they are bankrupt when they graduate.
Wait, you mean taking out $125,000 in student loans for a job that might land me $65,000 a year wasn’t such a good idea?
PLUS you mean “governing” by executive order and overstepping Congress wasn’t such a good idea?
Thank you. I disliked Biden for exactly those things. Thanks for agreeing with me!
Uh, Congress deferred its authority on nearly ALL matters to the federal executive years ago. It was a party decision because the Democrats are crazed bolshevik authoritarians who demand to rule by decree from the throne.
ONly problem is, they thought theyd keep the power forever. They didn’t know they’d be empowering some orange guy…
The Democrats knew the socialist Republicans including Trump get their turn. Thats the Uniparty system , feigning partisan outrage at the other side to distract the people from what the political donor leeches are doing. Talking of giving out another stimulus check, supporting artificial interest rate suppression, etc. Now we have maga socialism.
These people relying on student loan forgiveness are not the ones who are driving economic growth anyway. Sorry Moms and Dads but these kids will stay in your basement forever with or without loan forgiveness.
That’s great news. Best I’ve seen since Milei gifted Musk a chain saw.
I guess four years of free college is no longer a basic human right. 😭
Only stupidity is. And you might become president!!!
Scott – Joe Biden certainly showed plenty of that stupidity when he became president. You finally came to your senses about Joe – it’s about time.
My mom became richer than she ever has under Biden. I finished a Federal career with a pension and 401k income under Biden. Other than dreamy-eyed screwball talk about “the deep state,” youll have to tell me how YOU suffered under Biden. Not generic no-name Fox News crappola — just you. How did YOU suffer under Biden. Did he hurt your widdle feelings?
Inflation destroyed the value of my savings. How’s that for you? Every dollar I owned four years ago is now worth slightly over 70 cents in relative purchasing power. Is that widdle amount of damage worth the four year privilege of having Biden and Kamala running the show?
Millions of illegals ruined NYC, cost taxpayers tens of billions of dollars and unleashed a crime wave around the country.
You think the future will be prospering under the enormous 36 trillion debt burden? It’s immoral to steal from people down the road to live large now. And yes the Republicans including Trump with the 2.2 trillion CARES Act recklessly overspent to amass that debt just like the Democrats.
Hey, I paid a solid chunk of change for this!
The School of Hard Knocks is FREE for LIFE!
Eh, whats the difference? Those kids wouldnt have voted Repub anyway.
Biden knew it was unconstitutional and did it anyway. He even posted about the Supreme Court stopping him. Buying votes and yet it didn’t work.
I agree, plus I tend to be more of a creditor than a debtor (though I have my moments). We needed to stop the boutique degrees and the immaculate housing on or near campus. If I can live in a 10 x 6, everyone can.
Votes don’t matter anymore, we can do whatever we want to anybody. The republicans are fun because you can do them wrong and get a “yessss daddy!” In response.
Actually that’s kind of creepy… never mind.
I knew real Republicans. I STILL know real Republicans. I didnt agree with them, but I understood them. Trump is not a Republican. He took the weakest-minded party (yeah, god will save you) and sold them a bucket of lies so he would have an easy on-ramp to become dictator. I just hope we’ll see real Republicans again someday.
Real Republicans are for limited government and fiscal responsibility, exactly what the Trump administration is doing
Trump borrowed trillions 2017-2020 and is planning to borrow $4 trillion+ or more this time around. Limited govt usually means less spending. Fiscal responsibility is the problem of the population, not the government. The voters want a big welfare state (80% of Federal spending is wildly popular) and we DONT want to pay for it.
This time next year, we’ll announce the largest deficit in history, amid an economic collapse, and you will sing our praises for it all.
You’re gonna roll right over when we come for your guns.
No, Trump signed the 2.2 trillion CARES Act and supports Fed money printing and is even now suggesting another stimulus check when we are still deficit spending and are 36 trillion in debt. MAGA is socialist debtmongering just like the Democrats because they are actually both under the Uniparty.
God save us from “real” Republicans – handing out teddy bears to illegal aliens at the border and pushing for invasions in foreign lands.
Real Republicans are no barrel of laughs but dont insult them by calling King Donald a Republican.
Excellent court decision. We the people are not responsible for the debts adults took on for education. Biden’s vote buying in the end, thank goodness, didn’t result in their debts being piked onto us.
Yes following the law could be recessionary. Oh well.