President Joe Biden has once again demonstrated his disdain for fiscal responsibility and the rule of law by vetoing a resolution that would have overturned his reckless student loan “forgiveness” plan. This outrageous scheme, which Biden implemented unilaterally last August, is nothing more than a giveaway to entitled millennials who incurred unmanageable debt to pursue useless liberal arts degrees.
Despite the resolution passing both the Republican-controlled House and the Democratically-controlled Senate, Biden arrogantly claimed that his administration has the authority to implement such a plan. This delusional assertion is contradicted by none other than former House Speaker Nancy Pelosi (D-CA), who recognizes that the president does not have the legal power to cancel student loan debt.
It is also worth noting that this misguided policy could cost the American people anywhere from $440 billion to $600 billion over the next decade. This financial burden will fall squarely on the shoulders of hardworking taxpayers who have already struggled through the disastrous economic policies of the previous administration.
It is encouraging to see that a few Democrats had the courage to stand up to Biden’s wasteful spending spree. Sens. Joe Manchin (D-WV), Jon Tester (D-MT), and Kyrsten Sinema (I-AZ), deserve credit for voting with Republicans to overturn this disastrous policy.
Rep. Bob Good (R-VA), who sponsored the legislation, quickly took to Twitter to call out Biden’s veto. The president’s brazen disregard for the will of the American people must not go unchallenged.
It is also worth noting that the Supreme Court is set to issue a ruling on Biden’s student loan plan later today. This decision could have massive implications for the future of our economy and fiscal stability.
In conclusion, President Biden’s veto of H.J. Res. 45 is a slap in the face to the American people. It is time for our elected officials to prioritize fiscal responsibility and common sense over reckless pandering to entitled millennials. Only then can we hope to secure a prosperous future for ourselves and future generations.