Posted Mar 23, 2020 by Martin Armstrong
COMMENT: Good onya Martin!,
President Trump also made reference to needing to be careful “not to make the cure worse than the disease”-also a suggestion you made in your letter!
People in my condo association here in Fort Myers are way more critical than I expected-I meet them walking in the mornings. The condo association just decided to close our pools and gym this afternoon without consulting anybody who lives here.
My bank now allows only “Drive-through service”…the lady at the bank was spraying the bank notes last Friday when I went there-I kid you not.
REPLY: People have no idea the amount of damage this is causing. This letter is circulating around many governments right now. I believe it will even be discussed this morning in Britain behind closed doors. There is another agenda which has been playing out.
Pelosi’s demands are outrageous and are intended to prevent Trump from responding to the crisis. He has presidential powers under executive orders to take action without the Democrats approval. Trump was able to cancel the loans because of a 2008 amendment to the Higher Education Act aimed at forgiving the debt of severely injured veterans. Such veterans who are unable to work are sent an application they can fill out to have their debts erased.
I believe under the Higher Education Act the president could erase the balances of all direct federal loans, which are the ones held by the government itself, and which account for about 70% of student loans in the U.S. There is a provision in there that my reading would allow the Secretary to develop anti-fraud safeguards and thus can fight back and void all student loans where the student has been unable to find employment in the field of their degree. This would circumvent the Democrats on the Student Loans, who demand everyone gets $30,000 off. I would forgive all loans where they have been unable to find employment in the field of their degree. Force reform in education. I will prepare the solution for Social Security tonight. It was the Democrats who sold-out the student to the bankers making their student loans non-dischargeable in bankruptcy.
If the Democrats refuse to sign the bill, they Trump should announce all businesses are to reopen immediately and increase the hospital bed space.