Yesterday, Joe Biden announced that he doesn’t care what the Supreme Court says. He is going to buy votes with taxpayer money by bailing out even MORE student loan debt. And fools like AOC are cheering him on.

Biden knows what he is doing, of course. He bragged about how he didn’t let a thing like a Supreme Court smackdown stop him last time.

Biden brags about ignoring the Supreme Court on his scheme to unilaterally cancel student loan debt: "That didn't stop us" pic.twitter.com/JfWolVGiC0

— RNC Research (@RNCResearch) April 8, 2024

He also told the whopper that he was the first person in his family to go to college. That particular lie is a golden oldie of his, because it was one of the lies that derailed his presidential campaign in 1987. His campaign definitely did not put that easily disproved lie in the teleprompter – which means that old Joe is just repeating his decades-old fibs now and thinks we won’t notice. That’s… not reassuring.

So what does this new bailout scheme look like this time? Same song, second verse, mostly.

Mr. Biden’s new plan eliminates accrued interest on loans for some 23 million borrowers. Generous repayment plans that cap monthly payments at a de minimis share of income have caused many loan balances to balloon owing to interest that accrues on unpaid balance. This is a major reason student debt has exploded.

Mr. Biden’s previous repayment plans prevent interest from compounding, eliminating the punishment for not making full and regular payments. Now borrowers also won’t have to pay interest they’ve racked up, which could total hundreds of billions of dollars. Wouldn’t Americans love to write off interest that accrues on credit cards too?

His plan also erases debt for some 2.5 million borrowers who “entered repayment over 20 years ago.” Current repayment plans forgive debt for borrowers who make monthly payments for 20 years. Mr. Biden is taking the payment out of repayment by canceling debt for borrowers who haven’t been making regular payments. This one’s for you, Gen Xers.

Borrowers who “enrolled in low-financial-value programs” will also receive loan forgiveness. The Administration isn’t targeting this benefit at community-organizing majors, but rather borrowers who attended proprietary schools that lose their financial aid eligibility because of Mr. Biden’s draconian gainful employment rule on for-profit colleges.

Nonetheless, borrowers who can’t find (or don’t want) gainful employment could get their loans canceled simply by claiming a “hardship.” One example the White House gives is child-care expenses. Get ready for an elastic definition of “hardship.”

An Administration official said late Sunday its new plans “involve different considerations” and use “different legal authority.” It invokes the Higher Education Act, which lets the Education Secretary “compromise” or “waive” claims. The Administration says its new plan is targeted even as it boasts about its scale.

Mr. Biden’s new loan forgiveness is still illegal. The High Court stressed that student loan forgiveness is a major question that requires clear authorization from Congress. But Mr. Biden seems to believe he can jam the courts by automatically forgiving debt before a judge has time to stop him.

The White House says most borrowers won’t even have to apply for loan relief. Sometime before the November election, Mr. Biden will simply declare their debt forgiven. That means a future Congress and a President Trump might be unable to undo the lawless act. Where are the press scolds who warn about a President who threatens democracy?

Naturally, the administration is all in on trying to save Grandpa Moneybags’ presidency by backing him up on this – even if they have zero legal footing for this.

CNN: "How will this [unilateral student loan bailout] pass legal muster when the first one didn't?"

Biden Education Sec. Miguel Cardona (who has absolutely no clue): "Shoutout to the UConn Huskies!" pic.twitter.com/UEwltJIMCj

— RNC Research (@RNCResearch) April 9, 2024

And if you have the temerity to point out that THIS IS STILL ILLEGAL, then the official White House Twitter/X account will narc on you for taking out PPP loans during Covid lockdowns. You know, when the GOVERNMENT told you that you had to close your business. The government does not order you to go to college.

They shut your businesses down, offered you one lifeline, and now they’re letting you know they have your info and they’ll use it against you if you dare disagree with Joe Biden https://t.co/cFizdBh37i

— Philip Letsou (@philipletsou) April 8, 2024

And Kamala Harris is just giving the game away. This is “free money” aiming to buy votes.

Kamala saying the quiet part out loud here:

"Regardless of income" – we aren't even trying to target this for people who actually need it, your tax dollars are paying off student debt for grad-degree holders with high-earning potential too. https://t.co/l7HQEid0UI

— Matt Whitlock (@mattdizwhitlock) April 9, 2024

But to brain trusts like AOC, this is the BEST THING EVER. The congresswoman, who is looking to rebuild some of her progressive street cred, was on Stephen Colbert’s Late Night Democrat Party Interview Hour Show, was hyping up this new bailout. AOC is just sorry it won’t help her out – but she’s willing to take on the chin FOR YOU, everyone.

Ocasio-Cortez said, “Actually, I’m going to be one of the few” that doesn’t get any benefits from the program, “I’m a member of Congress. I’m a little bit outside the threshold and bounds. But, if I wasn’t, just a few years ago, waitress me, five years ago, would have benefited from it. Congresswoman me will not, but that’s okay. I’ll take the knock if it means that people can get relief.”

Let’s remember that as a member of Congress, AOC has an annual salary of $174,000. Her boyfriend/fiancee/possible spouse Riley Roberts works as well, though obviously we don’t know how much he earns in the private sector. But let’s assume for the sake of argument that the couple has an annual income of $200,000. Is AOC so stupid, and/or manages her money so poorly, that she ISN’T paying off whatever student loan debt she may still have on that income? She certainly thinks that the average student loan debt holder is, but now having these debts relieved means they have “hope”… that they can take a vacation. Among other things.

She continued, “And this is huge, this is — people getting the student loan forgiveness, their student loans canceled, it means that it’s hope to buy a house or have a kid or travel abroad or maybe even go back to school and pursue a career that maybe they otherwise wouldn’t have. One of the reasons that’s not me now is because I didn’t feel like I’d be able to afford medical school. And so, hopefully, someone else who’s at an ISEF competition somewhere will be able to do that because of this.”

I’m sorry, what? AOC considered medical school and then decided not to because the loans were too much? That’s not the story that she’s told before. This is from 2019:

″[My father] passed when he was 48 years old, and so it really forced me to grapple with questions of legacy and what is important and what do I want to do with my life at 18,” she continued. “I really started to feel when I was on this premedical route that it was going to take another 12 years for me to actually serve as a doctor, after residency and medical school and undergrad, and even then it would be on a case by case basis. And I wanted to examine issues on a more macro scale, which led me to start studying public health more.”

Ocasio-Cortez recounts that she then went to West Africa and did some maternal health work there that led her to ultimately make the final transition toward economics and policy. She graduated from Boston University in 2011 with a bachelor’s degree in international relations and economics.

She went on to work for the late Senator Ted Kennedy, act as an organizer for Bernie Sanders’ presidential campaign and serve as an education director at the National Hispanic Institute all before launching her own election bid.

Being on a pre-med track for your college prerequisites at one point, and then switching to politics, does not equal “I couldn’t afford med school because of the loans.” AOC isn’t quite as good at retconning her past to fit the current political thing as Joe Biden, but she certainly gave it the old college try there. *snort*

And can you imagine the logical pretzel that AOC just created? She really thinks that people who have their student loan debts bailed out will turn around and take on MORE LOANS to go back to school??? Can you even comprehend that? If this bailout goes through, then AOC apparently thinks that a permanent class of perpetual students will be created. And how will that NEXT set of loans be paid off after that master’s degree? Does AOC just assume there will be another bailout by another Democrat president someday to buy votes?

The attorney generals of Missouri, Arkansas, Florida, Georgia, North Dakota, Ohio and Oklahoma have already filed a lawsuit to keep Biden from implementing this new round of bailouts, but Old Joe is bound and determined to buy off as many people as possible, and he’s just going to keep pushing. And AOC, like the obedient little cheerleader she is, will keep egging him on.

Featured image: original Victory Girls art by Darleen Click