Joe Biden Pictured as he Reverses On Hyde Amendment. Photo from NBC News

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.

Deroy Murdock is a Manhattan-based Fox News Contributor, a contributing editor with National Review Online, and a senior fellow with the London Center for Policy Research.

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1 year ago

When the pay for certain work is not enough to pay for a person qualifying to do that work; the situation is very wrong. It proves that the student did not “get his money’s worth” in the preparation for doing that job. Very heavy student loans prove most difficult to repay. Yet, why should federal taxpayers be saddled with other people’s loans? Colleges and universities should reign in their pay scales to faculty, and “tame” the glory sought in overdone campus facilities.. Like the week-old rotting anchovies mentioned above, the overall situation “stinks to high Heaven!”

5 months ago

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