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Stepping in. without this critical relief for debtors, we ll have a wave of default across the country with all the negative consequences that has. i think this is precisely the type of context where the executive should be able to implement the emergency powers. reporter: the supreme court has struck down programs under covid including eviction moratorium and testing or vaccine mandate for large employers. this student debt program uses the pandemic to justify forgiving $10,000 in federal loans for people making under $125,000 or $20,000 in loans for those with pell grants. about 20 million borrowers could see their remaining balances entirely wiped out. but justice neil gorsuch asked whether that undermines basic fairness. what i think the argument is missing is cost to other persons in terms of fairness for example. people who have paid their loans, people who don t who plan their lives around not ....
Whether the president by way of his education secretary has the power to enact this kind of relief. i think most casual observers would say if you re going to give up that much amount of money, if you re going to effect the obligations of that many americans on a subject that s of great controversy, they mind think that s something for congress to act. reporter: the soli solicitor-general responded federal allow allows for the education secretary to respond in the wake of an emergency, and the ongoing financial effects of the pandemic justify the administration stepping inch. without this critical relief for debtors, we re going to have a wave of default across the country with all the negative consequences that has for borrowers. i think it s precisely the type of context where the executive should be able to implement those emergency powers. reporter: the supreme court has repeatedly struck down programs implemented by the biden administration under covid including the evicti ....
Financial effects of the pandemic justifies the administration s stepping in. without this critical relief for debtors, we are going to have a wave of default across the country with all of the negative consequences that has for borrowers. i think it is precisely the type of context where the executive should be able to implement those emergency powers. reporter: the supreme court has repeatedly struck down programs implemented by the biden administration under covid, including the eviction moratorium and the testing or vaccine mandate for large employers. this student debt program uses the pandemic to justify forgiving $10,000 in federal loans for people making under $125,000, or $20,000 in loans for those with pell grants. about 20 million borrowers could see their remains balances entirely wiped out. but justice neil gorsuch asked whether that undermines basic fairness. what i think they argue that is missing is cost to other persons in terms of fairness, for example, people w ....
It s holding steady for the most part. the overall recklessness of this administration number one, but number two, this is china. and the $5 trillion in new debt, the $5 trillion in new spending in the last two years, we are a nation of debtors and debt is weakness. and at the same time, we are buying more and more goods from china. our importance went up more than 6% in the last year we are at a record. so we are increasingly leaning on china. and we are paying for this nation s demise. and we are doing nothing about it. emily: that is frightening. all right come up next apparently giving away taxpayer dollars with no strings attached has become a trend. the growing push for guaranteed income programs and counties across america, that is next. barracuda ....