President Joe Biden’s student debt bailout resembles a plate of anchovies: It was unappetizing when served. After a week in the late-summer sun, it reeks.
On Aug. 24, Biden announced his plan to cancel up to $10,000 in unpaid educational loans for those earning $125,000 per year or less. Debtors who received Pell Grants could abandon up to $20,000 in student loan obligations.
Biden’s program soon slammed into a cavalcade of objections — legal, financial, and moral.
First, could Biden simply wave his scepter and make these debts vanish? News reports quickly emerged in which none other than House Speaker Nancy Pelosi previously dismissed such authority.
Keep reading at The American Spectator.