{"id":83193,"date":"2022-08-26T06:00:00","date_gmt":"2022-08-26T11:00:00","guid":{"rendered":"http:\/\/www.shotinthedark.info\/wp\/?p=83193"},"modified":"2022-08-26T05:02:53","modified_gmt":"2022-08-26T10:02:53","slug":"the-best-of-hands","status":"publish","type":"post","link":"http:\/\/www.shotinthedark.info\/wp\/?p=83193","title":{"rendered":"The Best Of Hands"},"content":{"rendered":"\n

So on Tuesday, Brandon banged his sceptre on the floor of the palace and bade $20K to disappear from student loan balances, forthwith. <\/p>\n\n\n\n

And his reasoning was the same, sober statesmanship we’ve come to expect from Brandon:<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/greg_price11\/status\/1562518492519493634\n<\/div><\/figure>\n\n\n\n

Unanswered – and, as far as I know, unasked by most of the media – does he actually have the authority to unilaterally erase loan balances and transfer it all to the deficit?<\/p>\n\n\n\n

Of course not<\/a> – <\/em>not if you take enumerated powers seriously:<\/p>\n\n\n\n

\n

As of yet, Congress has provided no authorization for the executive branch to arbitrarily write off some of the money that borrowers owe to taxpayers. As of yet, Congress has passed no rules that allow down-on-their-luck presidents to throw money at people for political gain. As of yet, Congress has given no instruction that if the president\u2019s friends might like a little more cash, he can raid the Treasury to give it to them. Certainly, Congress has set up a loan <\/em>program. But the deal there is rather simple, all told: First you borrow, and then you pay back what you borrowed. There is no mention of \u201cforgiveness\u201d days or of \u201chelp\u201d or of rolling Chekhovian jubilees, and by pretending otherwise, President Biden is making a mockery of his oath to uphold the Constitution.<\/p>\n<\/blockquote>\n\n\n\n

To be fair and accurate, there’s never been any indication Biden understood that oath, even before his senescence. <\/p>\n\n\n\n

But mark my words: colleges – their endowments untouched – will start telling prospective students “Borrow whatever you need – there’ll be another forgiveness soon”. <\/p>\n\n\n\n

You and I, and our grandchildren, will be paying off the loans of these <\/p>\n","protected":false},"excerpt":{"rendered":"

So on Tuesday, Brandon banged his sceptre on the floor of the palace and bade $20K to disappear from student loan balances, forthwith. And his reasoning was the same, sober statesmanship we’ve come to expect from Brandon: Unanswered – and, as far as I know, unasked by most of the media – does he actually […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[452,57,123],"tags":[],"class_list":["post-83193","post","type-post","status-publish","format-standard","hentry","category-bride-of-stagflation","category-economy-and-the-market","category-taxes"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/83193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=83193"}],"version-history":[{"count":2,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/83193\/revisions"}],"predecessor-version":[{"id":83206,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/83193\/revisions\/83206"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=83193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=83193"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=83193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}