Biden signs student loan cancellation

Gouvernail

Lottsa people don’t know I’m famous
38,253
5,734
Austin Texas
Obvious first solution is for Biden to not do what he did. Thus avoiding the bad consequences forthcoming, intended or not. How’s that for starters?
Lame…
Are you suggesting doing nothing is a proper option??
I disagree.
We should have been throwing politicians in jail for taking bribes snd influence pedaling a long long time ago.
 

Mrleft8

Super Anarchist
27,424
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Suwanee River
Obvious first solution is for Biden to not do what he did. Thus avoiding the bad consequences forthcoming, intended or not. How’s that for starters?
How's about you have no idea what the consequences forthcoming will be, bad, good or indifferent. You assume bad consequences. Why's that? Is it because that's what you hope for?..... Not for the good of the people involved, but because you hope it looks bad for Biden?
You are among the people that I collectively call "Irredeemable assholes".
 

Patriot

Super Anarchist
1,099
16
Lame…
Are you suggesting doing nothing is a proper option??
I disagree.
We should have been throwing politicians in jail for taking bribes snd influence pedaling a long long time ago.
If my choices are nothing or Biden’s EO, I’ll take nothing, yes.
 

Patriot

Super Anarchist
1,099
16
How's about you have no idea what the consequences forthcoming will be, bad, good or indifferent. You assume bad consequences. Why's that? Is it because that's what you hope for?..... Not for the good of the people involved, but because you hope it looks bad for Biden?
You are among the people that I collectively call "Irredeemable assholes".
I don’t want higher taxes, higher inflation and higher tuition for more people than this EO helps. That makes me an “irredeemable asshole”? Ok - you run with that. What would you call these effects then? Good consequences? By the way, as for suffering victims who stand to benefit from this vote-buying charade, the vast majority being college grads, did you know that the unemployment rate for this select group is near a record low of 2%? Cry me a river, please!

My hope was that Biden wouldn’t embark on this foolishness in the first place. The consequences will play out predictably.
 
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Patriot

Super Anarchist
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How about tax money being spent on wars? How about tax money being spent to advertise cigarettes in foreign countries? How about tax money subsidizing the drilling of oil wells in a year when oil companies are posting record profits? How about tax money being handed back to billionaires?

When you have equal complaint about these things, then perhaps I'll think you're not just whiny RWNJ punk, who is totally in thrall to the hate-spewing media which is shilling for the 0.01%ers.
What amongst your laundry list was directly approved by congress? If anything wasn’t, then perhaps there’s a legitimate gripe to be had there. That being said, any past indiscretions don’t justify subsequent overreach via executive order, yes?
 

Patriot

Super Anarchist
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Please quantify the number of taxpayers earning 400k plus, and the number of student loans being reduced by 10k (being both sides of the equation).
Otherwise your argument is just mealy mouthed drivel.
I’ve presented my argument here. What’s yours? Something that starts with taxpayers who earn more than $400k? Keep going with that and let’s see where it takes us.
 

Patriot

Super Anarchist
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Seems pretty clear from the statute that the law passed by Congress approves exactly this kind of action by the Secretary of Education in case of a declared emergency.
“declared emergency” - comically juxtaposed with the debt-holding college grad crowd who are currently suffering mightily through a near record low unemployment rate of 2%…….did someone say “executive overreach” somewhere in this thread? Hmmmmmm…….you know what, I want to better understand this utterly strange confluence - I think I’ll check out CNN, MSNBC, NYT, WaPo etc etc, as surely they’ll peel this onion back……oh wait, never mind…..
 
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slug zitski

Super Anarchist
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worldwide


CD44AB75-777D-4640-AB10-0AEF3A6762FF.jpeg
 

MR.CLEAN

Moderator
46,884
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Not here
“declared emergency” - comically juxtaposed with the debt-holding college grad crowd who are currently suffering mightily through a near record low unemployment rate of 2%…….did someone say “executive overreach” somewhere in this thread? Hmmmmmm…….you know what, I want to better understand this utterly strange confluence - I think I’ll check out CNN, MSNBC, NYT, WaPo etc etc, as surely they’ll peel this onion back……oh wait, never mind…..
You have only expressed a single unsupported argument thus far in support of any of your claims or opinions, but you fail to make even a scintilla of effort to develop it, preferring instead to vomit right wing outrage talking points with no relationship to reality.

Those who rely on paid reporters and for-profit media to 'peel the onion back' are what I call 'intellectual cucks'. Doesn't matter what news you read - if you rely on it for anything but a research starting point and/or entertainment, you practice conscious ignorance.
 

Pertinacious Tom

Importunate Member
62,888
2,017
Punta Gorda FL
Student loan forgiveness plan has a SCOTUS problem

...
Biden is using a post-9/11 law to justify this plan. The Higher Education Relief Opportunities for Students Act of 2003 — better known as the Heroes Act — was created to give the education secretary authority to waive rules related to student financial aid programs in times of war or national emergency. Since the Covid-19 pandemic was declared a national emergency, the administration claims its student debt plan allows borrowers not to be placed in a worse position financially as a result of that emergency.

Legal experts agree that this action will have to satisfy the major questions doctrine, but they are divided on if the plan passes muster.

Some experts think the administration’s plan complies with the major questions doctrine. The Heroes Act was also used to justify pausing student loan payments. This action also paused interest on loans. Since that interest is not going to be added to loans after the national emergency, it could be seen to amount to some kind of loan forgiveness already. That action was not challenged.

“We're talking about degree not an actual change in kind,” Lawrence said. “I would understand a major question to be something that is totally different from anything that's been done before or that the legislation has provided for. So I think the administration set the better part of the argument here.”

There are other experts who question the administration’s decision to use this national emergency authorization so far into the pandemic.

“The use of the Heroes Act, which was passed after 9/11, creates the purpose in the context of what an emergency means, and I think it's a very big stretch to suggest that the world of very, very late Covid of August 2022 is anything like the world of post-9/11 or even even a couple of years after 9/11,” Jed Shugerman, a professor at Fordham Law School, said in a phone interview.

Even if the Covid-19 pandemic in August of 2022 fits the definition of an emergency, that might not be enough. The current Supreme Court has demonstrated that fitting the text of a statute is just the first hurdle.

“It may fit the text, but the text is not enough anymore,” Shugerman said. “The Roberts court, as I've indicated, has created a huge exception from the Scalia version of textualism and that's the major question doctrine. This OLC memo is remarkable in how it completely ignores some of the most important precedents from the Roberts court over the last six years.”
...
We have lots of older and more obscure emergencies, one declared by President Carter IIRC, so the panicdemic isn't all that old as PANICS go.

So is this a major question? I don't know. Seems like bad policy to me to forgive loans, whether student loans or Panicdemic Payout Pork loans.
 

Steam Flyer

Sophisticated Yet Humble
45,473
10,228
Eastern NC
I’ve explained why this is bad policy.

No, you've just complained about unfair tax burden; which would be a valid complaint if it were not 100% partisan. You didn't let out a peep when a huge tax cut for the wealthy raised both inflation and your tax burden.
 


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