Biden Invokes Post-9/11 'National Emergency' Law to Ram Through $300B Student Loan BailoutChris Menahan
Aug. 25, 2022
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Joe Biden's inflationary $300 billion bailout for the college-educated is being rammed through by executive fiat under a post-September 11th law that allows for debt cancelation "in connection with a war, other military operation or national emergency."
The Department of Education's Office of the General Counsel writes (via Twitchy:
The HEROES Act, first enacted in the wake of the September 11 attacks, provides the Secretary broad authority to grant relief from student loan requirements during specific periods (a war, other military operation, or national emergency, such as the present COVID-19 pandemic) and for specific purposes (including to address the financial harms of such a war, other military operation, or emergency). The Secretary of Education has used this authority, under both this and every prior administration since the Act’s passage, to provide relief to borrowers in connection with a war, other military operation, or national emergency, including the ongoing moratorium on student loan payments and interest.It's a national emergency that college-educated, upper class people -- who we've all been told are going to make an additional $1.2 million over their lifetimes versus folks with just a high school degree -- have to pay back the debts they borrowed.
Those who skipped college and went straight to work and those with only high school degrees who couldn't afford to go to college will have to pay their managerial elite overlords' loans off. It's not enough to be lectured endlessly by these cretins about how deplorable, racist and evil we are for not sharing their woke values, we must also pay off their debts.
When the Republicans were in power, they gave trillions in tax cuts to the super rich and megacorporations (who used all their extra money to get Trump out of office) and funneled billions of dollars to minority voters to try and buy their votes (it didn't work) but when Democrats are in power they extract money from middle and lower-class GOP workers to give to college-educated managerial elite Democrats.
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