A Debate Poser for Biden: Why Is He Willing To Defy the Law To Cancel Student Debt?

President Biden keeps breaking the law. One of the things President Trump should ask Mr. Biden at the CNN Presidential Debate on Thursday is why he won’t abide by the law regarding the cancellation of student loans.Just last night, two federal district judges — Daniel Crabtree in Kansas and John Ross in Missouri, who are both appointees of President Obama — issued injunctions to prevent the Biden administration from canceling any more federal student debt.In this case, they were blocking the so-called Saving on a Valuable Education, or SAVE, Plan, which has a price tag of roughly $475 billion over the next ten years, according to the Penn Wharton Budget Model.By the way, that model estimated that 750,000 households making more than $312,000 in average household income would benefit. So much for helping low-income families.Of course, the plaintiffs in this case, which were attorneys general from Missouri and Kansas, succeeded in making the case that Congress never gave Mr. Biden the authority to cancel the loans.Now, back to Trump’s hypothetical debate question to Mr. Biden, the Biden press office responded to the court decision by saying they’re basically going to ignore it.“Today’s rulings won’t stop our Administration from using every tool available to give students and borrowers the relief they need,” the White House press secretary, Karine Jean-Pierre, said and went on to say, “that’s why the Department of Education will continue to enroll more Americans in SAVE.”So, I’m sure folks watching the CNN presidential debate will be curious to hear Mr. Biden’s answer and even more interested in why he is willing to break the law. Or why he is so intent on disrespecting the Supreme Court.Basically, Mr. Biden — who has criticized the Supreme Court in his State of the Union speeches — sees the highest court in the land as just a bunch of Republican justices allied with elected Republican officials out there in the hinterland.Now, for a guy who talks a lot about “preserving democracy,” this is a very odd position to take as he demeans and actually ignores the decision of one of the three branches of government.Only, never mind, he’s going to just try to keep spending almost $600 billion worth of student loan cancelations, according to that Penn Wharton model.Federal court decisions be damned.Which brings me to another point concerning possible fiscal questions in the CNN Presidential Debate.The latest CBO baseline during the Biden years, which spanned Fiscal Year 2023 to Fiscal Year 2034, shows an increase in federal debt held by the public to $50.7 trillion from $26.2 trillion. As a share of GDP, the debt moves to 122 percent from 97 percent.Now, somebody has got to do something about spiraling federal spending and borrowing before America’s finances become completely unmoored from any kind of market-based reality.That’s going to require a bold, balanced budget plan that restrains spending, while at the same time holding down tax rates in order to promote revenue-enhancing economic growth.Yet breaking the law or promoting a complete fiscal breakdown is not the path to a new American prosperity cycle.From Mr. Kudlow’s broadcast on Fox Business Network.

A Debate Poser for Biden: Why Is He Willing To Defy the Law To Cancel Student Debt?

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