WASHINGTON − The Supreme Court on Friday dashed President Joe Biden's plan to wipe out student loan debt for 26 million Americans, ending a program that was intended to ease the financial burden on families in the latest significant ruling from the high court that curbs a president's power to act alone. In one of the most closely followed cases before the court, with sweeping implications for the balance of power in Washington and the household finances of millions of families, a majority ruled that the Biden administration overstepped its power by attempting to forgive $400 billion in student loans lingering during the pandemic. Chief Justice John Roberts wrote the decision for a 6-3 court.
Excellent news!! The President has no authority to spend or not spend money. The sad part is that there were actually 3 justices who thought he did.
Biden's legal argument got sort of tangled up in its shoelaces. They argued that they had emergency powers that flowed from the covid pandemic that allegedly allowed the president to grant temporary relief during emergencies and that he was allegedly just extending that permanently. Then on the other hand they are running around arguing that the covid pandemic is over. Not a very tidy argument. womp...womp...womp.. Not saying the "emergency powers" argument was ever good but if they wanted to try to run with that- and they did- it was extra dumb after the covid scam weakened.
The three year free ride is over. 45M accounts with an average monthly payment around $350. Some way more. That's gonna pinch quite a few folks starting in August. I'm tellin' ya, Wall Street better adjust their Q4 numbers. The lines outside The Apple Store on Black Friday are gonna be a little shorter.
Maybe, but the partisan argument is not as straightforward as some make it out to be. Most people would consider Speaker of the House Nancy Pelosi to be a democrat but she was/is adamantly opposed to having the president usurp what is clearly legislative powers- even though they are both democrats. The Supreme Court's conservative chief justice cited Nancy Pelosi in his opinion striking down Biden's student loan forgiveness program The Supreme Court's conservative chief justice cited Nancy Pelosi in his opinion striking down Biden's student loan forgiveness program (msn.com)
Chief Roberts is with the Bush crowd and so is DeSantis. Conservatives and RINO's = no bailouts for the little people. $32 trillion national debt excused by MMT and the FED printing trillions. It's like being in a carbon fiber submarine, implosion incoming.
%% LOL Exactly Dave Ramsey never did like those goofy gov loans. I'm not a wildlife biologist, but good, wild math,6/3biden v Nebraska Win Again.
Biden Pressured to Revive Student-Loan Forgiveness Plan https://www.wsj.com/articles/biden-pressured-to-revive-student-loan-forgiveness-plan-34d0a7be