President Joe Biden knows he doesn’t have the power to cancel student loan debt — a power given to Congress in the Constitution — but he’s apparently willing to break the law to do so, according to Judge Andrew Napolitano on newsmax.
“No, it’s not legal and it’s not constitutional,” Napolitano told “Eric Bolling The Balance” on Thursday. at a press conference on Capitol Hill that only Congress can do that.
“The president can delay obligations, but he can’t remove them, which requires spending. She’s right.”
The power of the stock exchange rests solely with Congress, according to the law of the Constitution, Napolitano told host Eric Bolling.
“Look, the banks loaned this money and the government guaranteed the loans,” he continued. “If the government is going to tell the recipient of the loans, forget $10 or $20,000, the government still has to pay that money to the banks. That money cannot be spent without the express permission of Congress.
“Joe Biden was in the Senate for 37 years. He knows it. He knows it’s unconstitutional.”
But Napolitano said the votes in the midterm elections meant more to Biden than respecting the law.
“It’s nothing more than a giveaway to get votes for the Democrats in the midterm elections,” Napolitano said.
Republicans could regain a majority in Congress and pass legislation to reverse Biden’s student loan debt forgiveness, but Biden would still have veto power.
“The Constitution is quite specific: only Congress can spend money,” Napolitano added. “Now Congress has given slush funds to the president — not just this president, but all post-World War II presidents — but there is no slush fund here.
“He can’t spend a penny of federal dollars to pay off the canceled portions of these loans without congressional legislation — and there’s no appetite in Congress to give him that.”
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