Biden caught in ANOTHER LIE. (Comparing PPP loans to student loans.)

https://www.foxnews.com/media/biden-schooled-equating-ppp-loans-student-loan-handout-bash-gop-policy-illiterate-talking-point

First, for those who didn't know what a PPP loan was (and I didn't either) it's a business loan for those companies hurt by the Covid hoax and government shutting them down. It's a lot of money. Here's what Unelected Joe tried to say.

Slamming GOP lawmakers who opposed the massive government handout, he said, "I don’t wanna hear from MAGA Republicans, officials who had hundreds of thousands of dollars of debts, even millions of dollars in pandemic relief loan, forgiven, who are now attacking me for helping working-class and middle-class Americans."
He then went after Taylor Greene and other lawmakers, saying, "Marjorie Taylor Greene, she got over – she and her husband got $180,000 in business loans forgiven in the PPP program. She said it’s completely unfair for us to forgive student loans for working and middle-class Americans."

He continued, "Representative Vern Buchanan of Florida said our plan was ‘reckless.’ Guess how much he got in that program forgiven? $2,300,000." The crowd responded with boos, as Biden quipped, "This is not a joke. Can’t make this stuff up."

Biden also took aim at Sen. Ted Cruz, R-Texas, in the speech, stating, "Ted Cruz, the great senator from Texas, he said it’s for ‘slackers.’ Quote, ‘Slackers who don’t deserve relief.’ Who in the hell do they think they are?"

I know some libs here are playing with themselves right now, after reading this. But here come the facts.

Judicial Watch president Tom Fitton debunked the president’s argument, writing, "Fact check: Fake history and false comparison. PPP loan forgiveness was passed by Congress -- the loans were designed to be forgiven. Biden has no legal/constitutional authority to spend hundreds of billions of dollars to forgive student loans without congressional authorization."

Conservative radio host Erick Erickson slammed Biden, stating, "Comparing PPP loans when the gov't forced people to shut down and businesses kept paying people salaries to student loans is ridiculous and shaming people for taking PPP when gov't forced them to shut down is absurd."

Senator Cruz ripped Biden to shreds, tweeting, "Unbelievable gall. Dems kept America shut down & disintegrated small businesses & jobs of working Americans…now he's comparing PPP loans that people got to deal w/ those govt mandates to loan forgiveness he gave to his Ivy League slacker fringe liberal base to buy their votes."

soar2newhighs

Why be concerned regardless of your political party persuasion? Because1: This government today and in the past both Democrat and Republican administrations have used and squandered tax payer dollars. Nothing new here. 2. Suddenly this administration is buying into the 99% vs. the 1% and will hire and possibly arm thousands of IRS agents to get money from those not paying their fair share?
This whole thing is nothing but political posturing, game playing and smoke and mirrors.
Those in power will get the cake w/ icing. The rest of us will as we have always, get the crumbs.

Reason10 · 70-79, M

@soar2newhighs You can trace this spending orgy back to Nixon, who did two very DESTRUCTIVE things to the American and world economy.
1. Taking the world off the Bretton Woods gold standard: That was the match that set fire to INFLATION. It is also what created the soaring oil prices in the early Seventies, because oil is traded in US Dollars (the world's reserve currency.)
2. Signing the Budget and Impoundment Act of 1972 created baseline budgeting for entitlement spending. It is the reason why today Entitlements account for around 70 percent of all government spending.

The biggest spenders have been the Democrats.

Reason10 · 70-79, M

@soar2newhighs The source for that is "The Seven Fat Years, And How To Do It Again" by Wall Street Journal editor Robert Barkley.