>> Kayleigh: PRESIDENT BIDEN
IS ONCE AGAIN EXTENDING THE PAWS
OF THE STUDENT LOAN PAYMENTS AS
HIS $400 BILLION STUDENT DEBT
HANDOUT TO BASE AS A SERIES OF
LEGAL SETBACKS.
THE WHITE HOUSE YESTERDAY
ANNOUNCED THAT IT WAS MOVING THE
DATE BACK FROM DECEMBER 31ST HAD
THE END OF JUNE OR 60 DAYS AFTER
THERE IS A COURT ORDER APPROVAL
OF THAT STUDENT LOAN PROGRAM.
AND RULE ON THE PLAN.
>> MY ADMINISTRATION PROVIDE
STUDENT DEBT RELIEF TO MILLIONS
OF WORKING AND MIDDLE-CLASS
FAMILIES ACROSS THE COUNTRY.
BUT REPUBLICAN SPECIAL INTEREST
AND ELECTED OFFICIALS SUED TO
THE RELIEF AND I AM COMPLETELY
CONFIDENT MY PLAN IS LEGAL.
BUT RIGHT NOW IT IS ON HOLD
BECAUSE OF THESE LAWSUITS, BUT
IT IS NOT FAIR TO ASK IT TENS OF
MILLIONS OF BORROWERS ELIGIBLE
FOR RELIEF TO RESUME THEIR
STUDENT DEBT PAYMENTS WHILE THE
COURTS CONSIDER THE LAWSUIT.
FOR THAT REASON THE SECRETARY OF
EDUCATION’S EXTENDING PAWS ON
STUDENT LOAN PAYMENTS WHILE WE
SEEK RELIEF FROM THE COURTS.
SPIN ON THE PLAN IS LEGAL, BUT
NANCY PELOSI SEEMS TO DISAGREE,
TAKE A LISTEN.
>> 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 IS NOT EVEN A
DISCUSSION, NOT EVERYBODY
REALIZES THAT.
>> AND THE EIGHTH CIRCUIT AGREES
WITH NANCY PELOSI, POWER OF THE
FIRST, HOUSE OF REPRESENTATIVES
CONGA CONGRESS, GOING THROUGH
LEGAL SYSTEM AND THAT’S WHY HE
IS CONTINUING TO EXTEND THIS,
BECAUSE IT IS GOING TO GET, IT
IS LIKELY GOING TO GET SHOT
DOWN.
PER NANCY PELOSI’S OWN WORDS.
KEEP IN MIND AS WE TALK ABOUT
THIS AT 73% OF BORROWERS
ACCORDING TO CNBC SAID THAT THEY
PLAN TO SPEND MONEY SAVED ON
BYTE AND STUDENT LOAN
FORGIVENESS BY TRAVEL AND DINING
OUT, VACATIONS AND DINNERS, AND
THAT’S BECAUSE THIS IS NOT
NECESSARY.
THE UNEMPLOYMENT RATE AMONG
COLLEGE GRADUATES IS 1.9%,
SIMILAR TO PRE-PANDEMIC LEVELS
AND THEN YOU HAVE THIS
FEDERAL RESERVE STUDY IN MAY
FOUND THAT POWERS ARE IN A
BETTER FINANCIAL POSITION
BECAUSE OF THE STIMULUS CHECKS.
SO THE PRESIDENT EXTENDING THAT
SHOULD NOT COME AS A SURPRISE TO
ANYBODY HAS AN IMMEDIATE AND
INITIAL REACTION AFTER THE
MIDTERM ELECTIONS IS THAT HE IS
NOT GOING TO CHANGE ANY POLICY
PROPOSALS OR PLANTS BECAUSE
THERE WASN’T A RED WAVE.
SO HE IS ALL AND EVEN THOUGH IT
IS COMPLETELY UNFAIR TO PEOPLE
THAT DID NOT GO TO COLLEGE OR
PAID OFF THEIR LOANS.
>> Kayleigh: IT IS TOTALLY
UNFAIR, ALSO LIKELY ILLEGAL, THE
SUPREME COURT WILL RUIN THE WAY
THAT THE EIGHTH CIRCUIT DID
BASED ON THE WAY THE LAW AND THE
FACTS ARE, BUT JOE BIDEN, MAYBE
THEY WILL LISTEN TO HIM, BECAUSE
HE SEEMS TO THINK THAT HE
ALREADY PASSED IT IN CONGRESS,
BUT LET’S FLASH BACK TO THIS
MOMENT THAT WAS BIZARRE.
>> WHAT WE PROVIDED FOR IS IF
YOU WENT TO SCHOOL AND QUALIFY
FOR PALE GRANTS, YOU ARE
QUALIFIED FOR 2,000 -- IT SKEWS
ME, YOU QUALIFY FOR $20,000 IN
DEBT FORGIVENESS.
SECONDLY, IF YOU DON’T HAVE ONE
OF THOSE LOANS, YOU JUST GET
10,000 WRITTEN OFF, IT’S PAST.
GOT IT PASSED BY A VOTE ARE TOO
AND IS IN EFFECT.
>> NEVER EVEN WENT TO CONGRESS.
>> Kat: NOBODY VOTED.
MAYBE HE HAD A DREAM.
I WANT TO MAKE IT SO CLEAR TO
ANYBODY THAT SUPPORTS THIS AND
STANDS FOR IT, IF YOU WANT TO
PAY OFF SOMEONE ELSE’S
STUDENT LOANS, NOBODY IS
STOPPING YOU FROM DOING THAT.
YOU ARE FREE TO PAY ANYONE AS
MUCH AS YOU WANT, I THINK IT IS
SO IMPORTANT THAT WE STOP
CALLING IT CANCELLATION OR
FORGIVENESS, BECAUSE THAT’S NOT
WHAT IT IS.
IT IS FORCING PEOPLE WHO HAD
NOTHING TO DO WITH THE LOAN TO
PAY FOR IT.
WHICH I DON’T SEE HOW IT IS
LEGAL.
I REALLY DON’T.
AND IF HE SUPPORTS IT SO MUCH, I
HAVE NOT SEEN JOE BIDEN OFFERED
TO PAY FOR EVEN ONE PERSON
STUDENT LOAN.
YOU TOTALLY CAN DO THAT.
THAT IS LEGAL AND ALLOWED.
>> Kayleigh: IT IS THE BOTTOM
HALF OF THE INCOMES SPECTRUM
PAYING FOR THE TOP HALF, TOTALLY
UNJUST.
AND THE CAUSE TO STUDENT LOANS
WAS SUPPOSED TO END IN JANUARY,
THE PRESIDENT TOLD US THAT’S IT
AND GOING TO END IN JANUARY,
LET’S FLASH BACK TO THAT OTHER
MOMENT I WAS AGAIN BIZARRE.
>> Joe: FULL OF SOUND BITES.
>> STUDENT LOAN PAWS IS GOING TO
END DECEMBER 30TH, EXTENDING TO
DECEMBER 31ST 2022 AND IT IS
GOING TO END AT THAT TIME.
IT’S TIME FOR THE PAYMENTS TO
RESUME.
>> Kayleigh: EXCEPT NOW IT IS
JUNE.
>> Joe: I AM A BETTING MAN AND
FEEL IT WILL BE EXTENDED TO
NOVEMBER 2024, PUSHED OUT AND
PUSHED OUT, THIS WAS A GAMBIT TO
BUY VOTES AND GUESS WHAT, IT
WORKED.
NOW AFTER THE FACT WHATEVER
HAPPENS DOES NOT MATTER,
MIDTERMS ARE OVER ON YOUNG
VOTERS CAME OUT MORE POWERFULLY
THAN PEOPLE EXPECTED BECAUSE OF
THIS.
AS A PARENT, THIS IS VERY
DAUNTING, YOU BOTH HAVE KIDS ON
THE WAY, WAIT TILL YOU LOOK AT
WHAT COLLEGE IS GOING TO COST IN
2044 WHENEVER YOUR KIDS GO TO
SCHOOL, RIGHT?
MY WIFE WENT TO GEORGETOWN, FOR
EXAMPLE, ALL IN THE 80,000, YOU
WENT TO --
$80,000 ALL IN.
TUITION AND BOARD IN EVERY THING
ELSE LIKE THAT, THAT MEANS OVER
FOUR YEARS $320,000.
SO THEN BEFORE TAXES, I HAVE TO
MAKE A HALF MILLION DOLLARS, MY
WIFE HAS TWO --
>> Kat: THAT IS AN EXPENSIVE
KEG PARTY.
>> Joe: NOT COORS LIGHT,
BUSHLIKE, NATTY LIGHT, THAT’S
THE EXPENSIVE STUFF.
THAT’S ONE KID.
IF MY SECOND KID WANTS TO GO TO
STANFORD OR NORTHWESTERN, SAME
THING.
IT IS OVERWHELMING HERE AS FAR
AS WHAT THIS COST, AND THIS DOES
NOT ADDRESS THE BIGGER ISSUE,
WHICH AS YOU FORGIVE THE
STUDENT LOANS NOW AND HALF OF
THEM WITH THOSE WITH GRADUATE
DEGREES OR MASTERS WHO CAN PAY
THIS OFF, DOCTORS AND LAWYERS
AND DOES NOT ADDRESS THE BIGGER
ISSUE GOING UP IN PRICE PEOPLE
OUT EVEN AT A HIGH INCOME.
>> Kayleigh: YOU HAD A KEY
POINT, NATALIE, THAT THE
EDITORIAL BOARD SAYING IF THE
SUPREME COURT TAKES THIS AND
RULES AGAINST BIDEN THAT WILL BE
A PROXY TO EXTEND THREE YEARS
CAUSING PAYMENTS EXTEND EMPEROR
FERTILITY, TILL 2024 WHEN HE IS
RUNNING AGAIN.
>> Natalie: IT KICKS THE CAN
DOWN THE ROAD, SOMEONE HAS TO
PAY THE DEBTS AND WE ARE JUST
MAKING IT HARDER AND HARDER FOR
PEOPLE DOWN THE ROAD, BECAUSE
THINGS ARE GETTING MORE
EXPENSIVE.
TO YOUR POINT, WE TALK ABOUT
7.7% CPI INFLATION, BUT SINCE
1980 THE COST OF COLLEGE TUITION
HAS GONE UP BY HUNDRED 69%.
WHY DON’T WE EVER TALK ABOUT
THAT?
WE DON’T TALK ABOUT THAT OR ACID
INFLATION, IT’S MAKING IT HARDER
AND THE AVERAGE PERSON CAN’T
AFFORD IT, SO PEOPLE GRADUATE
AND FEEL LEFT BEHIND ALREADY.
AND I THINK THERE IS SOMETHING
TO BE SAID ABOUT WORK ETHIC, I
PAID OFF ALL MY STUDENT LOANS
AND I’M PROUD OF THAT.
I THINK IT’S AN AMERICAN VALUE
TO SAY I PULLED MYSELF UP BY MY
BOOTSTRAPS AND WENT TO BED TIRED
AND TOOK ON MULTIPLE JOBS, BUT I
PAID IT OFF BECAUSE IT WAS
NOBODY ELSE’S RESPONSIBILITY
ABOUT MINE.
>> Kayleigh: AND YOU ASK WHAT