Biden's plan to bribe millennials by canceling debt can't and won't work

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President Joe Biden says he is seriously considering wiping out the debts for a vast swath of college students who took out federal loans. He has no such constitutional nor statutory authority. But if past is prologue, he’ll do it anyway.  

For the fourth time in his presidency, Biden recently suspended loan payments through August 31. He improbably cited the pandemic that his own chief science adviser admits has ended. Now, under increasing pressure from progressive Democrats and facing a rout in the upcoming midterm elections, Biden appears poised to cancel debts altogether for a substantial number of borrowers.

KAROL MARKOWICZ: BIDEN’S PLAN TO CANCEL STUDENT DEBT ISN’T DEBT FORGIVENESS, IT’S DEBT FOR ALL

President Biden delivers remarks during an event for the 2022 National and State Teachers of the Year in the White House on April 27, 2022, in Washington, D.C. (Photo by Yasin Ozturk/Anadolu Agency via Getty Images) (Yasin Ozturk/Anadolu Agency via Getty Images)

Doing so by executive fiat is an abuse of power by the president. Just as the Appropriations Clause of the Constitution grants spending authority to congress, the Property Clause gives our legislative body exclusive authority to

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