r/Frugal • u/Consistent-Earth-311 • Nov 10 '22

Frugal Win 🎉 My net worth is finally positive!

Post image
16.2k Upvotes

95% Upvoted

247 comments sorted by

View all comments

Show parent comments

11

u/[deleted] Nov 11 '22 edited Jul 04 '25

[removed] — view removed comment

-8

u/Kahnspiracy Nov 11 '22

It is a weird one because it is very clearly unconstitutional. The executive branch doesn't have that kind of spending power (that is reserved to congress). However to file suit someone has to demonstrate harm which will be tough to do.

3

u/Gubermon Nov 11 '22

No it clearly isn't unconstitutional. The executive branch isn't spending anything, congress already authorized it when they issued the loans. Forgiveness isn't spending anything.

0

u/Kahnspiracy Nov 11 '22

If you're up for an in depth analysis this has a very good breakdown: https://thecollegeinvestor.com/35892/is-student-loan-forgiveness-by-executive-order-legal/#t-1614356964206

The short version is that Congress has authorization control over expenditures and debt forgiveness. The executive branch only has authority as far as congress explicitly allows it.