Staff Reports
President Joe Biden has once again shown his disregard for the American people by vetoing H.J. Res. 45, which would have overturned his misguided student loan “forgiveness” plan. Despite bipartisan support in both the Republican-controlled House and the Democratically-controlled Senate, including two Democrats, Joe Manchin and Jon Tester, and independent Senator Kyrsten Sinema, Biden refused to listen to the will of the people.
In a lengthy and disingenuous statement justifying his veto, Biden claimed that his administration was building a student loan system that works. This could not be further from the truth. By canceling student loan debt, Biden is only incentivizing future generations to take out irresponsible amounts of loans, which will lead to increased inflation and decreased economic stability for all Americans.
In April, Nancy Pelosi recognized that the president "does not' have "the power for debt forgiveness."
Now, Joe Biden is lying about having passed student load debt forgiveness as law through Congress. pic.twitter.com/bvx0XOPoKP
— Townhall.com (@townhallcom) October 24, 2022
Furthermore, Biden claimed that his administration had the authority to go about such a plan, citing decades-old authority granted by Congress. However, former House Speaker Nancy Pelosi has publicly admitted that he does not have such authority. Biden’s claim that he signed a law to cancel such debt is nothing more than a gross exaggeration and outright lie.
It is appalling that working families across the country will continue to suffer as lawmakers pursue this unprecedented attempt to deny critical relief to millions of their own constituents. Yet, while denying this relief, several of these same lawmakers have had tens of thousands of dollars of their own business loans forgiven by the Federal Government. This hypocrisy is unacceptable and must be called out.
It is time for Biden to listen to the American people and put their needs first. Instead of continuing to throw away billions of taxpayer dollars on his misguided student loan plan, Biden should focus on making college more affordable and effective. The estimated cost of this plan to the American people ranges from $440 billion to $600 billion over the next decade – money that could be better spent on actual relief for Americans struggling in the aftermath of the COVID-19 pandemic.
If Biden truly cares about the American people, he will rescind his veto and work towards a better solution that benefits all Americans, not just a select few.
Source: Townhall
