CHARLES: PRESIDENT JOE BIDEN
PUTTING THOSE STUDENT LOAN
PAYMENTS ON HOLD YET AGAIN, AND
NOW TAXPAYERS ARE ARE ON THE
HOOK, IN FACT, ONE WATCHDOG
GROUP PUTTING THE COST FOR THIS
LATEST EXTENSION AT ANOTHER $40
BILLION, AND IT ALL COMES AMID A
SUPREME COURT BALLOT OVER HIS
LOAN FORGIVENESS PUSH.
JOINING ME NOW, A CONSTITUTIONAL
LAWYER, KATIE TRUE KOUSKY.
A GROUP OF STATES ARE ASKING THE
HIGH COURT TO SCRAP IT.
HOW DO YOU THINK IT WILL GO?
>> THIS IS A VERY SERIOUS
SEPARATION OF POWERS ISSUE, AND
I THINK THE BIDEN ADMINISTRATION
HAS ATTEMPTED TO MAKE THIS ABOUT
FAIRNESS TO THOSE WHO TOOK OUT
THESE LOANS, BUT THE BIGGER
QUESTION IS WHETHER THE
ADMINISTRATION HAS THE LEGAL
AUTHORITY TO EXTEND THE STATUTE
THAT THEY’RE USING FOR THIS LOAN
FORGIVENESS PROGRAM TO THE
EXTENT THAT THEY’RE TRYING TO.
AND I THINK HAT SUPREME COURT IS
GOING TO BE VERY WARY OF THAT.
CHARLES: APPARENTLY, THEY’RE
USING THE SO-CALLED HEROES ACT
WHICH FORGAVE STUDENT LOANS FOR
MILITARY MEMBERS BACK, I THINK,
YOU KNOW, DURING THE GULF WAR
ERA.
AND I GUESS THERE’S A PART IN
THERE THAT SAYS OTHER EMERGENCY,
OTHER PERIODS OF EMERGENCIES.
RECENTLY, PRESIDENT BIDEN
DECLARED THE PANDEMIC WAS OVER,
AND SO EVEN WITH THAT IN MIND,
WHERE’S THE IMMEDIATE
EMERGENCIESOME SO IT FEELS TO
ME, AGAIN AS A LAYMAN, THAT THIS
IS A BRIDGE TOO FAR.
>> WELL, I I THINK THAT YOU’RE
EXACTLY RIGHT, AND I THINK THAT
IT WAS A VERY CREATIVE
INTERPRETATION TO TRY TO FULFILL
THE CAMPAIGN PROMISE OF
CANCELING THIS DEPARTMENT
THROUGH EXISTING LEGISLATION
THAT NEVER CONTEMPLATED IT WOULD
BE USED TO THIS EXTENT WITH THIS
MUCH MONEY ON THE LINE ARE
THAT’S NOT ONLY BEING ERASED FOR
THE, FOR THOSE WITH LOAN, BUT
BEING TRANSFERRED TO OTHER TAX
PA -- TAXPAYERS.
IT COMES DOWN TO THE
CONSTITUTIONAL ANALYSIS OF
WHETHER THAT LEGISLATION COULD
REASONABLY BE INTERPRETED TO
ALLOW FOR THIS FUNDING BY THE
EXECUTIVE BRANCH.
AND I DON’T THINK THE SUPREME
COURT, AGAIN, IS GOING TO BE THE
VERY ACCEPTING OF THAT, FROM
WHAT I SEE.
CHARLES: YEAH.
AND THEN THE NOTION OF FAIRNESS,
HAAS A WHOLE DIFFERENT KETTLE OF
FISH, PARTICULARLY FOR
PERSONS -- AMERICANS WHO DON’T
HAVE COLLEGE DEGREES.
WHAT ABOUT KICKING THIS CAN DOWN
THE ROAD?
THE MATH IS AT ABOUT $190
BILLION, AND EVENTUALLY STUDENTS
HAVE TO PAY THAT BACK, BUT CAN
PRESIDENT BIDEN KEEP DOING THIS
UNTIL THE 2024 ELECTION?
I MEAN, IS THERE A LIMIT TO HOW
LONG HE CAN KEEP THIS MORATORIUM
GOING?
PLEASURE.
>> I THINK THAT’S THE BIGGER
QUESTION HERE AND, ULTIMATELY,
THERE’S TWO CASES THAT ARE
PENDING.
IF THEY CONTINUE TO GET RULINGS
OR THAT ARE CONTRARY TO THE
ADMINISTRATION’S POSITION THAT
PROGRAM CANNOT CONTINUE, I THINK
AT SOME POINT THE BUCK IS GOING
TO STOP.
BUT ULTIMATELY, PRESIDENT BIDEN
IS GOING TO PUSH THIS OUT AS FAR
AS POSSIBLE.
HE DOESN’T WANT TO BE THE ONE
HOLDING THE BAG WHEN THE
PAYMENTS RESTART BECAUSE THAT’S
AGAINST WHAT HE’S PROMISED
PEOPLE.
AT THIS POINT HE’S GOING TO
EXTEND IT THE MOST SIGNIFICANT
AMOUNT HE CAN, BUT WHEN THEY
HAVE FINAL RULINGS IN SOME OF
THESE COURTS, I THINK THAT’S
GOING TO END THAT A, AND AND
HE’S ULTIMATELY GOING TO HAVE TO
CONTINUE TO RECOUP THE PAYMENTS.
CHARLES: AND, OF COURSE, WE’VE
SEEN THAT WITH SOME OF THESE
OTHER MORATORIUMS, RIGHT?
THE RENTAL ISSUE, AGAIN, THE
ADMINISTRATION GOT PRETTY
CREATIVE WITH IT BUT,
ULTIMATELY, A JUDGE SAID, NO,
YOU KNOW, IT DOESN’T WORK.
I MEAN, IT’S -- WHAT I’M
CONCERNED ABOUT IS WHAT HAPPENS
IF THESE THE KIDS, OR, YOU KNOW,
YOUNG ADULTS NOW, YOU KNOW,
FEELING LIKE THEY WERE NEVER
GOING TO HAVE TO PAY THIS MONEY
BACK ACTUALLY WENT OUT AND SPENT
MONEY AND HAD THIS FALSE SENSE
OF SECURITY, HAY THEY MAY END UP
OWING ALL THIS MENTIONER RIGHT?
>> ABSOLUTELY, THEY WILL.
AND I THINK THAT REALLY WHEN
YOU’RE MAKING THESE PROMISES
USING, AGAIN, EXISTING
LEGISLATION, IT’S A FAR REACH.
AND I DON’T THINK THE BIDEN
ADMINISTRATION AND THEIR
ATTORNEYS THOUGHT THIS WASN’T A
FAR REACH, I THINK THEY WANTED
TO PUSH THIS OUT AS MUCH AS THEY
POSSIBLY CAN.
BUT LEGALLY SPEAKING,
CONSTITUTIONALLY SPEAKING, IT’S
ON VERY SHAKY GROUND, AND IT
ALWAYS HAS BEEN, AND THEY’RE ALL
PROBABLY WELL AWARE OF THAT.
CHARLES: A CYNIC MIGHT SAY THEY
GOT WHAT THEY WANTED OUT OF IT,