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FOXNEWS America Reports June 4, 2024 18:42:00

Constitutional nonentities. sandra: professor turley, we know you have to run, thank you for joining us ahead of the president s announcement. appreciate your time. thank you, sir. john: byron york, chief political correspondent for washington examiner and fox news contributor. byron, where we left off with jonathan, all this feels like a rhetorical question, how much of this is politics? well, when i heard you ask that question my own answer was almost all of it is politics. go back to the 2020 democratic primary campaign. they had 20 plus candidates and at times it was a bidding war over who could offer more student debt relief. there were the really, really top people like bernie sanders who basically wanted t relieve all debt of everybody, and elizabeth warren wanted to do at least $50,000 in debt, that s five times more than what the president is going to announce ....

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FOXNEWS America Reports June 4, 2024 18:09:00

A lot of people are feeling like that right now. yeah, i think they do, sandra. like you said, think about all the people who have worked hard and earned a good living without going to college. and a young man in arkansas started out as a house painter and then invest in a truck and ladders and equipments and now has a small house painting business. he doesn t benefit, he has at that pay off the loans. for a young woman who went to work as a stylist and now owns a small salon, she did not benefit from this proposal, and now she has to pay it off. you can multiply that across millions of other americans who are not only going to get nothing from this announcement, but are actually going to have to pay off those loans. loans are now being held by people making up to a quarter million dollars a year. joe biden is going to give people $20,000 and families making a quarter million dollars a year. it s just shocking. john: when you take a look at ....

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FOXNEWS America Reports June 4, 2024 18:04:00

Expected to cost the average american? it s costing every taxpayers, whether or not you went to college or paid off your own debt, ultimately every taxpayer is going to be bearing the brunt of this cost. president biden announcing taxpayer cash will be used to pay off $20,000 of debt for those who went to college on pell grants, $10,000 of debt for everyone else. only people making less than 125,000 will get the taxpayer funded payout. on top of that, biden is extending the pause on student loan payments for every11 final time to december 31st. this, of course, is not free. there is no such thing as making debt just disappear like a magician. the pen wharton budget model estimating for getting $10,000 for borrower, will cost around $300 billion and it is ultimately taxpayers that are picking up the tab. the national taxpayers union foundation puts the cost at about $2,000 per taxpayer. the administration, though, is ....

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FOXNEWS America Reports June 4, 2024 18:05:00

Brushing off concerns that this is going to hike inflation even higher. they say because right now no one is making any student loan payments, they think restarting payments at the same time they are paying off a chunk of the debt, they think the two will offset each other. but some democrats even a year ago doubted the president was able to do this and that this was legal. people think that the president of the united states has the power for debt forgiveness. he does not. he can postpone, he can delay, but he does not have that power. that has to be an act of congress. the department of education general counsel said they think this is legal. they are using the justification for the heros act put in place after september 11th, gives the administration the right to cancel student loan payments in a time of war or in emergency. that emergency, sandra, they say, is the pandemic. ....

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FOXNEWS America Reports June 4, 2024 18:06:00

Sandra. sandra: a lot to dig into there. live at the white house as we await the announcement. thank you. john: bring in arkansas republican senator tom cotton. ask you first of all about the question that hillary was just talking about. does this pass constitutional muster and do you expect it to end up at the system? no, john, i don t think it does. the president does not have the power to eliminate entire categories of debt, maybe the power to negotiate a settlement in a case it s disputed, but no, does not have that power. irrespective of lawsuits coming, of all the dumb things joe biden has done, this may be the dumbest yet. i know it s stiff competition, how unfair this is for all the americans harmed by this now on the hook for hundreds of billions of dollars of other people s loans. all the people who did not go to college, became farmers or ....

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