Is Joe Biden crazy or just stupid?
YHe continues to insist that all pay their fair share of taxes yet he wants to forgive $39 billion in students loans.
As I remember, no one is forced to take a loan, they sign on the line with an agreement to pay it back.
Yet Biden wants to forgive this debt while raising taxes to pay for it. He is just trying to buy votes, again, with his illegal actions.
He tried this before and was shot done by SCOTUS as this being an illegal action.
So back to the original question, is he stupid or just power mad and crazy?
The $39B are largely people who have already paid back at least what they were supposed to and refunds of people who overpaid. When they set up the income contingent repayments in 1994, they didn't set up a way to track the number of payments. Those started maturing in late 2019. Lawsuits started getting filed because servicers refused to release people who had paid in full. The Department of Ed then discovered that 1) they hadn't been tracking the total number of payments and 2) The servicers weren't either and 3) they cannot recalculate them retroactively because servicers didn't particularly care to keep records after a loan moved out of their hands . This particular program is primarily their way to settle all these lawsuits. The 1994 to 2013 records are apparently a shit show with massive gaps.