States very busy in california raising money and a ton of us. Hes also moving to save money for a lot of student loan borrowers. This time to the tune of about 1. 2 billion. That makes 138 billion that he has directly or indirectly provided in Student Loan Relief. Some people are crying foul that no less than the Supreme Court has put the kiabash on this and hes keep doing it. Now to peter doocy at the white house and how theyre explaining this. Officials here are hoping an emphasis on Climate Change and gun control and student forgiveness put people in line. A fourpoint edge for biden over trump. That is even though trump is seen as having better physical fitness for biden and Mental Fitness for office than biden. The president joked to donors about this in california. He said, by the way, im only 40 years old times two. The only thing i do know is that i may not run like i used to, but i tell you what, ive been around long enough to know whats going on. As it relates to Student Loan Forgiveness, i think under President Biden we have forgiven more than 135 billion. It affected four million americans all across the country. Were making progress on gun safety. Todays Announcement Running Behind Schedule in los angeles is going to cover about 1. 2 billion to help 150,000 borrowers. Neil . Neil peter, thank you for that. Were waiting to hear from the president in culver city, california, how he plans to go about this. He keeps doing this. This used to raise hackeled all the way up to the Supreme Court, even one nancy pelosi was concerned back in the day. Take a look. 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 would have to be an Act Of Congress. Neil all right. Tom dupree, the former assistant Deputy Attorney general. No Act Of Congress here. I dont know what the vagueries are on this legal strategy. Were up to this amount. 138 billion even when the Supreme Court has said this is a house matter, now an Executive Branch matter. How does he pull this hauf off and keep pulling it offer . Thats the thing. When nancy pelosi says this goes too far, it might just go too far. Look, the Supreme Court couldnt have been clearer when they said that President Biden didnt have the power to affect his last Student Loan Forgiveness program. What hes trying to do now is to come in with the narrower slice. In other words, the amount of money hes trying to forgive is a lot less than his first effort. At the end of the day, the fundamental question is the same. Which is that did congress ever give this administration or President Biden the authority to straight up forgive Students Loan debt, particularly on the scale of a billion or two dollars which is what hes looking to do right new. Neil were talking about four million americans that can take advantage of this. Theres millions more that are not part of this. I imagine theyre recentful about this. Theres a lot of people that said i had very late and tardy car loans. I want forgiveness for that or others that want forgiveness or for forebearance on their debt only case. Some saying what you did for them, do for me. Thats another problematic aspect of this. If Congress Enacts something in to law, you can be assured it went through the process and people are being treated fairly. If Congress Wants to give money to one group or another, its prerogative. What happened here is different. This is a case where the administration by all appearances for political purposes in an Election Year wanted to have a giveaway for a prize constituency. This very narrow group of americans, a sliver of americans that had these student loans. The president decided to make a political payoff and he was willing to do so in a way that congress does not appear to have specifically authorized him to do. It flies in the face of what the Supreme Court told him not long ago he couldnt do. Martha . Neil youre the great lawyer. Im not. Im an expert. I watched a number of legal shows that qualifies me. Theyre threading the needle saying the president cant do this willynilly. These are about the terms of repayment. Hes cut the terms off. That isnt forgiveness. That is the president of the United States rearranging the terms. To me, it doesnt seem to be a difference. I side with you on this, neil. Keep in mind, that argument you just articulated is very similar to what the president argued the last time around. That argument was rejected by the Supreme Court. He said that he had the authority to waive or modified Student Loan Debt. The court said okay, fair enough. But forgiving 400 billion is not a waiver or a modification. Its outright forgiveness. You cant do it. Hes making a similar argument here saying yeah, i have the power to modify the terms or to adjust the terms. But to my mind at least that stops short to say you have the power to forgive youd right. Neil why cant the Supreme Court come out you have just done the exact opposite of what we told you not to do. I dont know how often they have done that, if they have ever done that. To scold you to the legislative branch or the Executive Branch to say no, no, no. Timeout here. You went too far and you violated what we said you couldnt do. Yeah. If people are going to challenge this wouldnt surprise me if some states stepped up to the plate and challenged what the president is trying to do today. It would start off in the trial court. Might make its way to the Supreme Court, but i think they would have a powerful argument if they filed a complaint in the trial court saying hey, all you have to do is hold up todays order and read what the Supreme Court said not long ago about the president s lack of authority to do what he just did. Thats our case right there. Neil amazing. All right. Thank you very much. I think i understand it better outside of saying you lawyers are so shrewd. You can find ways about anything. Not you, tom. Meantime, you ever wonder how we pay for this . They say no new taxes are being a employed on anyone. Its magically paid for. Obviously did they dip in or just add to our debt . That might not mat tore my next two guests, the intrinsic potential a fairness of it all. Kat timpf from gutfelled fame, author. Shes going to have more. And Ricky Schwartz here, The Cancelling Of American Minds and Student Loan Debt. Youre perfectly timed, ladies. Kat, to you first. The double standard here. Theres many people saying and college kids and their parents saying we dutifully paid our obligations, continue to pay our obligations, continue to pay off these loans. But were not part of this gravy train. We resent it . What do you tell them . Im one of those people. Its more than just okay, i paid off my loans, which i did take out a small amount of loans for my undergraduate degree. The rest was covered with scholarships. I did not accept the opportunity to get an ivy league graduate degree. Instead, i waited tabled and did internships. Not because i thought that was better or more fun or i wanted to do that. It was really hard. I went through a lot of very hard things that i would have not had to have gone through if i would have just gone to the grad school. A lot of people made sacrifices that are not just financial. Thats why i dont like calling it cancellation. Its not cancellations. Its thrusting the burden on people that had nothing to do with it. Neil bottom line, ricky, if you just add it to the debt, by that version, we all pay for it. Some are better equipped to do it than others. I get that. This is not something that is borne by the American People regardless. Your thoughts. Yeah, absolutely. I mean, honestly, theres a world where i could be supportive of a version of student debt cancellation. If it was actually changing how kids in the future taking out debts. There were a lot of 17yearolds that believed that a College Degree was a ticket to success and expected that if the federal government was going to back their student loans, that they should one day repay it. If there was a world where we put some of the impetus on colleges to make sure theyre producing graduates that have a meaningful career path or actual chance of paying back their loans that the federal government did back before these kids could buy a beer, theres a middle ground where i feel like we could have some sensible longterm solutions here. Neil you know, switching around, i was watching other coverage. People say we bailed out banks after financial crises one after the other. We bailed out g. M. When it was on the ropes. That was money wellmade and invested and paid back. So theres a sort of standard where we help those considered vital to our national interest. So students can come back and their parents can come back, those benefitting for this and say were part of that Vital National interest. The only difference there is there are a slice of that, millions more that want to be part of that vital interest and theyre not. Neil im a libertarian. We can talk about how i feel about those things another time. In terms of the government choosing winners and losers like that. But i also think that what rikki brought up is an important point. Where do we go from here . If this does happen, which i dont understand fully legally how it could, i dont know why students in the future would be thinking that they would ever have to pay theirs back. It would be making a problem worse than it is already. I think that we do need to start actually having a culture where people look at it from a Cost Benefit Perspective when it comes to student debt the way they would take on any other kind of debt. Neil you know, rikki, i cover the financial industry, which makes me so exciting here, this magnet for this type of thing at fox. There is an issue in the financial word called too big to fail. In other words, we dont let a Big Bank Go Under or a Big Institution Go Under or you could say a fortune 10 company or what have you. We actually have that almost invisibly built in to our thinking. But now this has gone on to include, you know, those behind on their student loan payments. You could argue what this has set in motion here. You know, you can also be never too small to be ignored. That everyone can be in on this federal government gravy train. Then the issue becomes how do you pay for that. Yeah, absolutely. I think that the precedent it sets could be enormously detrimental longterm. I think the sad part is that were in this situation in the first place because the federal government got involved in obscuring the Free Market Pressures on these schools. You have universities just getting rich on federallybacked loans and the kids that didnt fully understand what repaying those loans would look like. Thats why were in a world where the Tuition Rates can go up and schools can keep charging more and more because the government is a middleman. I think this is an instance where Government Intervention actually has created the problem in the first place. Neil statistics bear out what you just said there. The more relief college kids get, the higher the tuition room and board costs go up. Its an unending cycle. Its now officially out of control. Kat and rikki thanks very much. Well see what happens next. Were waiting to hear from the president on this and how he intends to pay for this. Thats what i have been scratching my head. How are you going to pay for this . Kelly ogrady has been following what donald trump will pay the 355 million in judgments and fines facing him right now. He has to put up a lot of assets. That i guess can be a real pain in the asset, kelly. Whats going on now . It can indeed, neil. When youre asked to pay nearly half a billion dollars, can it be a thrill tricky. Lots of questions about that, when he may file an appeal. He teased a little bit at a town hall on fox news last night. Well break it down next. Again. His 2s are perfect hes a brand new dog, all in less than a year. When people switch their dogs food from kibble to the farmers dog, they often say that it feels like magic. But theres no magic involved. dog bark its simply fresh meat and vegetables, with all the nutrients dogs need instead of dried pellets. Just food made for the health of dogs. Delivered in packs portioned for your dog. Its amazing what real food can do. Salonpas, makers of powerful Pain Relief Patches for 89 years. Believes in continuous improvement. Like rounded corners that resist peeling, with an array of active ingredients. And sizes to relieve your pain. Salonpas. Its good medicine. Lowes knows you dont just want a low price. You want the lowesest price. Did you say lowest, or lowesest price . Its basically the same thing. If you find a better price somewhere else, well match it. Get the lowesest price, with our lowest price guarantee. You got this. We got you. Heres why you should switch fo to duckduckgo on all your Devie Duckduckgo comes with a builtn engine like google, but its pi and doesnt spy on your searchs and duckduckgo lets you browse like chrome, but it blocks cooi and creepy ads that follow youa from google and other companie. And theres no catch. Its fre. We make money from ads, but they dont follow you aroud join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. Neil all right. Youve hired of Put Up Or Shut up. The Attorney General from the state of new york has another sort of warning for donald trump. Put up or were going to just scoop up one of your buildings to pay this collateral, if you will, the 355 million penalty where theyre all but kicking him out of new york state for a couple years here. Kelly ogrady is following this back and forth outside of trump tower in midtown manhattan. Kelly . Neil, despite those words from the Attorney General, former President Trump at the town hall seemed very confident about his chances on an appeal. I will highlight until an appeal is filed, these penalties do still hold. So he still owes that 450 million including interest. He has to put that up to mount an appeal. Last night he avoided a question of whether or not he would sell any new York Real Estate assets to fund the appeal. He maintained his flush with cash, hes 90s and underscored that the banks continue to do business with him today that were mentioned in the trial. He did show one thing, a lack of a victim. He fined me 355 million plus interests. My Financial Statements were conservative. Everybody made money. There was no victim. This guy ruled that i was guilty before the trial started. The former president says he will take aim at the size of the sign, including the eighth amendment. We can expect trump, he may challenge this half a billion penalty is unconstitutional. Other appeals have had success in the past. You mentioned the Attorney General. Shes coming out swinging warning she will seize his assets if he doesnt pay the fine. The former president does still within that 30day deadline whether to pay the fine or put the money in an Escrow Account or post a bond. To do that, he has to get creative with financing. Back to you. Neil thanks, kelly. John yoo, the former assistant Attorney General is with us right now. John, let me ask you a little bit about the requirements here. One way or the other, he has to put up this amount of money, 355 million. I guess you can put it on collateral or borrow against it. The bottom line, the borrowing against it part is difficult given these arrangements. He cant go to a bank for loans whether theyre collateralized or not. Its a mess. I dont understand it. What are his options . I fully expect that what the Attorney General said is not going to matter in the end. Because shes only talking about what would happen if trump would run for it and go to florida and say come get me. What can happen is say trump can pay the damages now, 350 million, and then theres i think another 100 million of interest on top of that, or he can appeal. To appeal, he has to post a bond in the amount of the damages. Its a compromise in the law to make sure that he has the right to appeal but that should he lose on appeal, the other side gets the money that they were originally due. The problem is as you said, where is trump going to come up with that kind of money . Most people dont go ahead and deposit 350 million when they lose a case. They go get a bond, they get a loan. They get a bank to send a letter saying theyre good for the cash, good for the amount. Thats what trump will have to do here. Hes going to have to put together a consortium of lenders or some of his own money and that will be what stands behind his appeal. He will certainly appeal this case. Once he appeals, the