Nancy Pelosi admitted that that president lacks authority to cancel student debt

President Joe Biden announced this week that those making less than $125,000 per year will be able to offload $10,000 worth of student debt onto taxpayers, a figure which climbs to $20,000 for Pell grant recipients.

Among those who welcomed the policy was House Speaker Nancy Pelosi. Yet as National Review columnist Diana Glebova pointed out, there are some facts about it that Pelosi would like to hide. 

Pelosi admitted last year that Biden lacks authority to cancel the debt

In an article published on Wednesday, Glebova pointed out how just last year, the House speaker was adamant that Biden wasn’t legally able to cancel student debt.

“People think that the President of the United States has the power for debt forgiveness,” she quoted Pelosi as saying during a press conference in July of 2021.

“He does not,” the long-time California Democrat insisted, adding, “He can postpone. He can delay. But he does not have that power. That has to be an act of Congress.”

“The President can’t do it. So that’s not even a discussion. Not everybody realizes that. But the President can only postpone, delay, but not forgive,” she added.

Yet despite her previous comments, Pelosi welcomed Biden’s move when she spoke with reporters on Tuesday even though she could offer no legal justification for it.

“Well, we’re excited about the president, because we didn’t know what — what authority the president had to do this. And now clearly, it seems he has the authority to do this: $10,000 for those … making under $125,000 a year,” the House speaker declared.

Left-leaning pollster admits policy is a “transactional” effort to get votes

Pelosi’s new found enthusiasm for student debt forgiveness likely stems from the fact that it will play out well among members of the Democratic Party’s base.

Indeed, left-leaning pollster Nate Silver all but admitted in a series of tweets that the move is a “transactional” attempt to buy votes.

While Silver admitted that the move is “transactional,” he later said that it was really no different from former President Donald Trump’s approach to tax cuts.

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