Shows you that the Democrats just make it up as they go along.
Quote:
Biden student loan handout to cost roughly $500B, according to Committee for a Responsible Federal Budget
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Critics have argued Biden's program will contribute to already record-high levels of inflation in the U.S.
Senate Minority Leader Mitch McConnell argued the program is "yet another way to make inflation even worse, reward far-left activists, and achieve nothing for millions of working American families who can barely tread water."
Biden, however, touted the program as a fulfillment of his campaign promise to cancel $10,000 in student debt. Democrats had initially stated that the White House lacks the authority to unilaterally cancel debt and that the president must go through Congress.
"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," House Speaker Nancy Pelosi said in 2021.
Biden himself doubted his authority to cancel debt through executive order last year.
"I don’t think I have the authority to do it by signing the pen," he said in February.
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Suddenly he does have the authority? What changed?