That's at the heart of an emerging trend Forbes reports is worth $130 trillion. |
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Regards,
Maria Bonaventura Senior Managing Editor, Rogue Economics |
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Biden's student loan handout intends to forgive $10,000 in federal student loans per borrower and double that for PELL grant recipients, but it will remain on hold after the New Orleans-based 5th U.S. Circuit Court of Appeals rejected the Biden administration's request to lift a stay put on the program by a lower district court in Texas. In court documents filed Wednesday, the 3-judge panel unanimously chose not to override a decision by U.S. District Judge Mark Pittman on Nov. 10, which called the student loan handouts unlawful and temporarily suspended it. The New Orleans court did choose, however, to expedite the case in its docket to the "next available" oral argument. BIDEN'S STUDENT LOAN HANDOUT WILL 'GO DOWN IN FLAMES' IF CASE REACHES SUPREME COURT, EXPERTS SAY Notably, the 5th circuit court does not include any Biden appointees as it is composed of Judges Jennifer Elrod, James Graves and James C. Ho, appointees of former Presidents George W. Bush, Barrack Obama and Donald Trump, respectively. Biden's Department of Justice previously said it would request the U.S. Supreme Court to intervene if the 5th circuit denied the appeal. The case is separate from a legal challenge filed by several Republican-led states, which was last decided by the 8th Circuit Court. The St. Louis-based 8th U.S. Circuit Court of Appeals also wrote an injunction blocking the student loan forgiveness program from taking effect. The Biden administration claims the Higher Education Relief Opportunities for Students (HEROES) Act of 2003 gives it the authority to forgive $10,000 in student loan debt per borrower under a national emergency. BIDEN STUDENT LOAN HANDOUT TO COST MORE THAN $400 BILLION: CBO The 5th circuit court case, brought by plaintiffs Myra Brown and Alexander Taylor, is one of two decisions preventing the U.S. Department of Education to move forward with the student loan program which is estimated to cost over $400 billion. 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But the Department's reliance on the COVID-19 pandemic is a pretext to mask the President's true goal of fulfilling his campaign promise to erase student-loan debt," the states wrote. The states added: "Hiding the real motive, the agency attempts to connect the Cancellation to the pandemic by citing current economic conditions supposedly caused by COVID-19. But those conditions are not directly attributable to the pandemic, so the Department has failed to adequately link the Cancellation to a national emergency." Democratic Party officials gather in the nation's capital this week on a mission to revamp the top of their 2024 presidential nominating calendar, a move that could have major consequences for the party far beyond their primary schedule in the next White House race. On the agenda when the Democratic National Committee's Rules and Bylaws Committee convenes is whether Iowa and New Hampshire — which have held the first two contests in the DNC's presidential primary and caucus schedule for half a century — will keep their traditional lead-off positions, or if the party will shake up the order and look to a more diverse state to kick off the cycle. The meeting was originally scheduled to take place in early September but was delayed until after the midterm elections, amid concerns that changes in the calendar would potentially wound Democrats facing challenging re-elections. In recent days, DNC officials on the crucial panel have been bombarded with calls, texts, and emails amid a deluge of public lobbying and behind the scenes jockeying. For years Democrats have knocked Iowa and New Hampshire as being unrepresentative of the party as a whole for being largely White with few major urban areas, while the Democratic voting bloc has attracted more minorities over the past several decades. Nevada and South Carolina — which currently vote third and fourth in the calendar — are much more diverse than either Iowa or New Hampshire. lXyave7GYIiXzFDquABtovVgz4dDry9sHbGumsPWAdgALJyVUOCkMX4a3GRWSjXvF ClsVVQppAUl6f2f1gM631bY4ZtE0TlbaHdG4RSJChkOEV2Weml5WgRPAJBJkXlqBk pBDYkHlC2MN09o4gEo0lUPNW0EJJbYtqQiUCFMsz43ZGsGH05qhQTCvdAzUkbI4F3 UEDFrtSsEMFSfSByVXXXx2FziD92QH41TAOpp4XdW3rvWyKKmKTAP4JQi0COvJo0Z LqOgAbdRDNeJPyEaztaDBLukmxL7ZKJ48XhzG8bzx0TKF4WK2YyFOJtj1jAf0XmHt VrEVdfCixVspVxSHnxuaqujdGiiF7DExiudOI0d1HN14uym0VqW8q57rnAUqSkXAk PlVASdPbIlx2UdtLVTTEqApOCyq6dxvfpzjoabBZu8aGtguBc2gdruqX6tYpW60NO tOyfkzw1V6mZeLDZFHESlICfs5YliSr9LB8CVBNDMJYNN0IcmYVHHRXPsIT6UYXKS qAIWIDLezUkEz7gbBXRR2RMhsurkRBcppAtSodUQnrAJLGeshGrpWqrTJYfNIFKp8 b6Ua6bd9PLXlWjsVrBgsogW2wTEwBFK5VsmWTr18iCb9klUKLT5x7ZRVMjCofLIq4 xMNsFrjriZimggk0fRDXckLPGbU1VBIzyu0N7wv0GxMNcbmZ2yaidsdRJalrsAME8 JSdE3tEqwPSS2AjvhJj6UqBrU9QDLVBtlWipW1HRA4bC3w5bg9QFxghesG8urLgiy |
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