by Mitch Kokai
Senior Political Analyst, John Locke Foundation
“The pandemic is over.”
The silver-tongued President Joe Biden uttered those words twice in a 60 Minutes interview this month. With that utterance, Biden instantly dissolved the legal fiction that is supposed to justify his forgiveness of $400 billion in student loans at the long-term cost to taxpayers of $1 trillion, including interest.
According to the nonpartisan Congressional Budget Office, Biden is seeking to implement the most expensive executive order in American history — and his action threatens to undo all the measures taken so far to contain inflation.
And he is doing it based on something he openly admits is a lie. He said it himself. And as for whether the pandemic really is over, just look around. All businesses have reopened. The era of social distancing is over. Mask-wearing is a rare fashion statement at this point and is usually more about politics than health.
Biden’s handlers wanted to do student loan forgiveness in the election year, but they had a very hard time concocting a legal basis for it. In the end, they shoehorned it into a law intended to forgive student loans for service members sent to fight a war in a national emergency. The law in question was called the HEROES Act.
The legal fiction under which Biden first sought to give away government-owned property — i.e., debt — depends on a continuing national emergency. The pandemic was supposed to be his emergency. Now, Biden has admitted that that emergency is over. Therefore, his attempts at the great giveaway should be over as well.
That should be the end of the story, but of course it isn’t.
Unfortunately, Biden intends to waste taxpayers’ resources with years of protracted litigation to defend this election-year bribe to the most privileged and wealthiest members of society with the greatest earning potential.