Staff Reports
Seven states have decided enough is enough and are banding together to challenge the Biden administration’s latest student loan scheme, which has all the finesse of a circus elephant trying to tiptoe through a minefield. The lead player in this legal drama is Missouri Attorney General Andrew Bailey, who has already bested the administration in court not once but twice. Apparently, the Supreme Court doesn’t think throwing money around like confetti is a sound fiscal policy.
This latest legal maneuver comes on the heels of some juicy documents unearthed by the states, proving that the Secretary of Education has been scheming behind the scenes since May. The states allege that rather than being transparent, the administration has taken a page from the stealth playbook, getting federal contractors ready to begin wiping out massive amounts of student debt as early as September 3, 2024. Coincidentally, that’s just in time for the back-to-school rush, which will surely make it an unforgettable fall for those who value responsible financial behavior.
🚨BREAKING: I have filed suit against @JoeBiden @KamalaHarris to HALT their THIRD attempt to saddle working Missourians with someone else’s student loan debt.
The Supreme Court just smacked them down LAST WEEK, so they’re trying again with a different statute
Not on my watch. pic.twitter.com/1CsdhG2EIB
— Attorney General Andrew Bailey (@AGAndrewBailey) September 3, 2024
The states’ argument is crystal clear: attempting to cancel hundreds of billions in loans without so much as a how-do-you-do to Congress or the public is not just unorthodox; it’s essentially a heist in broad daylight. Bailey and his compatriots are making it known that this is already the third time the Biden administration has attempted to enact this financial magic trick, and they’re not going to let it slide. If past performances are any indication, this administration is more about disappearing acts than accountability.
The financial implications of this gambit are staggering. The states have pointed out that the combined cost of the proposed student loan cancellation and the SAVE Plan approaches a jaw-dropping $621 billion. For those keeping score at home, that’s taxpayer money — the kind of cash working Americans are supposed to save for their kids’ college funds, retirement, or something else sensible. Instead, it seems to be earmarked for wiping out the poor financial decisions of others, with little consideration for those who play by the rules.
Joining the fray alongside Missouri’s bold AG are the attorneys general from Georgia, Alabama, Arkansas, Florida, North Dakota, and Ohio, forming an impressive coalition ready to stand up against what they see as an overreach by the federal government. This lawsuit highlights a growing concern among conservatives that the current administration is more interested in winning political points by confusing the populace—while cramming financial ruin down their throats—than in actual governance or fiscal responsibility. Who knew student loans could be the hot-button issue that turns into a multi-state boxing match? It’s time to grab the popcorn and watch how this saga unfolds.
