So Joe Biden announced a new student debt plan this week, and just like that, the usual right-wing states are trying to destroy it. Via The Hill:
Seven states announced Tuesday they were suing the Education Department over President Biden’s SAVE income-driven repayment student loan plan, adding to a previous lawsuit by numerous other states. The lawsuit is spearheaded by Missouri, along with six other states, which argue the SAVE plan is unconstitutional and cost taxpayers $475 billion.
“With the stroke of his pen, Joe Biden is attempting to saddle working Missourians with a half trillion dollars in college debt,” Missouri Attorney General Andrew Bailey (R) said. “The United States Constitution makes clear that the President lacks the authority to unilaterally ‘cancel’ student loan debt for millions of Americans without express permission from Congress.”
“The President does not get to thwart the Constitution when it suits his political agenda. I’m filing suit to halt his brazen attempt to curry favor with some citizens by forcing others to shoulder their debts,” Bailey continued. “The Constitution will continue to mean something as long as I’m Attorney General.”
The lawsuit includes Missouri, Arkansas, Florida, Georgia, North Dakota, Ohio and Oklahoma. The states argue the SAVE plan is equivalent to the student debt relief plan the Supreme Court struck down last summer.
This is, frankly, bullshit -- and they know it. These Republicans have no problem at all with the $8.4 trillion from the Trump tax cuts for billionaires, of course. And by the way, the regressive Bush tax cuts also added $8 trillion to the national debt.
Without the Bush and Trump tax cuts, debt as a percentage of the economy would be declining permanently. Maybe they don't know, but I'm sure they don't care.
