In July 2021, House Speaker Pelosi (D-CA) was asked about Biden offering up student loan transfer of debt (I will not call it forgiveness because someone has to pay for it).
Pelosi was adamant that Biden “does not have that power.”
Well, Biden’s White House legal staff dusted off the 2003 HEROES Act, and said that Biden can do it.
Using the Pandemic
Pelosi’s full quote in 2021 on this issue stated, “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.
“And I don’t even like to call it forgiveness because that implies a transgression.
“It’s not to be forgiven, just freeing people from those obligations.”
The HEROES Act grants a president the authority to alleviate hardships brought on by the pandemic.
The pandemic did NOT bring about Student Loan debt issues, but Joe Biden is now using it as an excuse to buy votes for Democrats in November.
Pelosi, now finally realizing the endgame, has flipped her stance.
On Wednesday, after Biden announced student loan debt transfer that will cost taxpayers more than $300 billion, stating, “President Biden’s bold action is a strong step in Democrats’ fight to expand access to higher education and empower every American to reach fulfillment.”
She added that this will help working families meet everyday needs “as they continue to recover from the challenges of the pandemic.”
Again, utterly ridiculous.
The problems Americans are facing right now and due to the ridiculous policies of this administration, and Joe Biden keeps giving away taxpayer money to try to fix it.
This is not loan forgiveness because the money was already sent out.
This is a transfer of debt to those of us that have already paid our bills.
Republicans jumped all over this…
There's no canceling or forgiveness. The debt is transferred to hardworking taxpayers, many of whom paid off their loans already or decided to pursue a different career and forgo college. This is just bad economic policy and I don't support this forgiveness approach. https://t.co/f2ie5r8xnM
— French Hill (@RepFrenchHill) August 24, 2022
Biden’s proposal to ‘cancel’ student debt is fiscally reckless and will only transfer the responsibility to hardworking American taxpayers.
This is an insult to those who didn’t have the opportunity to attend college and those who worked hard to pay off their own debts.
— Rep. Rob Wittman (@RobWittman) August 24, 2022
I joined the military, used the GI bill & started at junior college. My wife waited tables. We sweated, sacrificed & saved to pay for our college educations & borrow to start & grow our small business.
What lesson is Biden sending wiping clean debts students willingly took on?
— Rep. Barry Moore (@RepBarryMoore) August 24, 2022
I cannot even begin to explain the damage this man has done to today’s and tomorrow’s economy with this order, but I gave it my best shot in our previous report.
To read that breakdown, click here.
Put your pennies under the matters because that may be the only place they are safe right now.
Source: New York Post
