This is the Cato Daily Podcast for Saturday, April 27th, 2024.

I'm Caleb Brown.

The Biden administration was rejected by the Supreme Court on that big student loan cancellation plan.

The court said the president lacked the authority he had claimed to cancel hundreds of billions

of dollars in student debt.

Now the Biden White House has undergone smaller debt cancellations, more precisely converting those debts into taxpayer debt.

It is Neil McCluskey discusses the push by the Biden team today.

Several months ago, Neil, I thought we had sort of dealt with this when the US Supreme Court

came out and told Joe Biden, no, in fact, you can't use this specific Heroes Act authority to grant hundreds of billions of dollars in student debt relief.

Joe Biden, apparently relying on some other authority that the president has has

proceeded to forgive which is to say move the liability to US taxpayers from

people who borrowed money to attend college using some other

authority and has begun doing this sort of what seems to be on the installment

plan.

Well, so the first thing that people have to try and sift through,

which is, I'm not going to be able to do it for you right now,

because too hard to remember it all,

is the Biden administration has been announcing all sorts of cancellations

using all sorts of different rationale for why he can do it.

So, you know, there's an announcement like every month or so, and they're

all on different things. But I'll talk about kind of the big one. Then we can talk about

some of the smaller ones, because some of them are more reasonable

...