beliefs. another day of decisions split 6-3 showing deep divisions at the nation s highest court in an opinion by chief justice john roberts the majority struck down the biden administration s plan to wipe out $430 billion until student loan debt. quote, we hold today that the act allows the education secretary to wave or modify existing statutory or regulatory provisions applicable to financial assistance programs under the education act. not to rewrite that statute from the ground up. the dissenters led by justice kagan argued the secretary did have that power. quote the statute read as written gives the secretary broad authority to relieve a national emergency s effect on borrowers abilities to repay their student loans. president biden who has repeatedly vowed to wipe out student loan debt while conceding he may not have authority blasted the court and promised to find other ways to benefit borrowers. i think the court misinterpreted the constitution. in today s oth
biden isn t a king. but don t take that from me. people think that the president of the united states has the power for debt forgiveness. he does not. he can postpone, he can delay. but he does not have that power. that has to be an act of congress. so catch this. the court citeded that exact line from pelosi when they slapped down biden s bailout. one of the very few times nancy and i agree on anything. but that hasn t stopped the media from losing it. if you think about all the grievances that are brought about the trump election, what you re seeing is severe backlash in the sense that people do not want to see black and brown people excel in this country. do you think it s a setback for gender equality? well, it s definitely a setback for social mobility through education. these decisions over the last 24 hours are essentially making it harder for a range of communities to go to college and seek a higher education. this represents an extremist minority who s
doing something we say giveaways. just plain old giveaways. senator, speaking of this politically. biden is hemorrhaging voters 18-29. but how do you convince them they are not victims of a so-called maga court, they have been defrauded by joe biden. well, very simple. i said it first, if you take out a loan, you pay it back. that s what we call common sense. it s also consistent with our american values. but more importantly, they are allowed a return on invested dollar of student loans is $2 million in life-time earning for a $35,000 worth of student loans. this is an easy math equation. if you graduate from college, you will have the resources to pay it back. so many americans today, like my mom, never had an opportunity to go to college. i don t ask her to make my student loan payments when hi student loans.
beliefs. another day of decisions split 6-3 showing deep divisions at the nation s highest court in an opinion by chief justice john roberts the majority struck down the biden administration s plan to wipe out $430 billion until student loan debt. quote, we hold today that the act allows the education secretary to wave or modify existing statutory or regulatory provisions applicable to financial assistance programs under the education act. not to rewrite that statute from the ground up. the dissenters led by justice kagan argued the secretary did have that power. quote the statute read as written gives the secretary broad authority to relieve a national emergency s effect on borrowers abilities to repay their student loans. president biden who has repeatedly vowed to wipe out student loan debt while conceding he may not have authority blasted the court and promised to find other ways to
political office. you know who ran for political office? members of congress. those are the people the president by passed. he compares it to the ppp loans. the ppp loans were passed by congress and signed into law by the president. he just did this by executive fee i can t tell. you cannot spend under our constitution half a trillion taxpayer dollars without getting congress to authorize it. just the way it works. but i ll tell you something shannon i think they re secretly happy with the supreme court decision i ll tell you why. the biggest problem they have going into the 2024 election is inflation. people are unhappy with the economy, he s got 34% approval on the economy. people think they re paying too much. this would have been inflationary. it was jason furman former biden economic advisor said pouring half a trillion dollars of gasoline on the inflationary fire which is already burning is reckless. this would have been like another covid relief bill a half a trillion dollars