Who needs congress when you can rule like a king through executive order.
Reason.com’s Elizabeth Nolan Brown points out that Biden has created a new political normal “where Congress basically only exists to approve budgets and hold show hearings against disfavored industries, the president governs unilaterally through executive directives, and every few years a new administration will use its new executive pens and paper to undo everything the former one just did.”
After two rounds of record executive orders, the Democrats want more.
Senate Majority Leader Chuck Schumer along with Elizabeth Warren, squad Rep Ayanna Pressley & several other Democrats are demanding a new executive order on student loan debt. They want Biden to immediately cancel up to $50,000 in debt for federal student loan borrowers.
In other words, they want to stick it to all the Americans who worked their asses off to fulfill their financial obligations.
“Warren called cancelation of up to $50,000 in debt “the single most effective executive action” Biden can take to “kick-start this economy” and “to help close the racial wealth gap.”
Along with Warren, Schumer and Pressley, at least 14 other senators and 45 representatives signed on to the resolution reintroduced Thursday. The movement has gained traction, as the resolution was put forward only in the Senate during the previous Congress.
Schumer said he and Warren have met with Biden about the issue and “are pushing the president and his people.”
The federal government held more than $1.5 trillion in student debt for about 43 million borrowers in the fourth quarter of last year, according to government data. Forgiveness of up to $50,000 in debt could wipe out the burden for as many as 36 million people.”
Just juvenile thinking from Warren.
Matthew Noyes with the Foundation For Education points out some hard truths for Democrats. He notes:
"Loans are not “forgiven” or magically disappeared. They are paid off by taxpayers. Whether it is through higher taxes, printing more money, or contributing directly from the national debt, you and I will end up being the ones that pay for it. The United States is already over $27 trillion in debt and $125 trillion deep in unfunded liabilities.
Essentially, the debt burden is shifted off of the shoulders of those who signed the loans and on to everyone who pays federal taxes…
Taking out a loan is a choice, and personal responsibility shouldn’t be supplanted by taxpayer bailouts. “Canceling” student loans means penalizing people like me for honoring my word and repaying the debt I chose to accept."