Re:How America's universities became debt factories
by User23 on Saturday September 14, 2024 @04:35PM
(#41542637)
> cannot use discretion in deciding who he gets to forgive for loans
You present this as though it doesn't make sense, but as far as the federal government is concerned forgiving a debt is spending (which is why the IRS will tax you for forgiven debts, income is the other side of spending). And spending is explicitly under Congress's authority.
You present this as though it doesn't make sense, but as far as the federal government is concerned forgiving a debt is spending (which is why the IRS will tax you for forgiven debts, income is the other side of spending). And spending is explicitly under Congress's authority.