The Big Insight: Although previous presidents have tried to spend without congressional authorization, President Biden’s $400 billion forgiveness of student loan debt would be the biggest such expenditure in history.
Article I of the Constitution states that federal funds shall only be spent “in consequence of appropriations made by law,” and that only the Legislative Branch can make such appropriations. But presidents of both parties have sometimes skirted this requirement through executive orders or by reallocating funds.
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