“The Supreme Court’s conservative majority seemed deeply skeptical on Tuesday of the legality of the Biden administration’s plan to wipe out more than $400 billion in student debt, heightening the prospect that the justices would thwart efforts to forgive the loans of tens of millions of borrowers.” — New York Times
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Mr. Chief Justice and may it please the court,
As I stand before you today, I need to make one thing absolutely clear: I’m a realist. I call things as I see them. And I just have to ask—how can we afford to bail out student loan borrowers when we can barely afford to bail out Citigroup, Bank of America, AIG, Bear Stearns, the entire airline industry, General Motors, Chrysler, Freddie Mac, Fannie Mae, Savings & Loan, Morgan Stanley, Wells Fargo, and then the entire airline industry for a second time? I just don’t see how we can swing it.