News/Commentary

‘Dems kept America shut down’: Cruz swings back at Biden for comparing PPP loans to debt forgiveness

October 22, 2022 | | Print Article

With skyrocketing inflation, crime on the rise, an energy crisis that could potentially see Americans freeze to death this winter, and the lingering threat of nuclear annihilation, President Biden doesn’t have a lot of positives with which to drum up support for Democrats, so, at a speech at Delaware State University, he fell back on the very few things left in his faded bag of tricks: freebies for his fans and slamming “MAGA Republicans” with half-truths and false comparisons.

The attempt to smear the right didn’t play well with Senator Ted Cruz (R-Texas), who hit back at Biden for his “unbelievable gall.”

Pushing his multi-billion-dollar — many would say, unconstitutional — plan to simply cancel student debt for select Americans, Biden told his hometown crowd, “I don’t want to hear it from MAGA Republicans who had hundreds of thousands of dollars of debts, even millions of dollars in pandemic relief loans forgiven, who are now attacking me for helping working-class and middle-class Americans.”

“Marjorie Taylor Greene, she and her husband got $180,000 in business loans forgiven in the PPP program,” the president continued. “She said it’s completely unfair for us to forgive student loans for working- and middle-class Americans.”

Biden also called out by name other Republicans who oppose student loan forgiveness and mocked the GOP for pointing out that his plan will ultimately only help “the elite few.”

“Y’all know you’re the ‘elite few’?” he asked the crowd. “I knew you were really special, but know you’re the elite few!”

“Ted Cruz, the great senator from Texas,” he said as the crowd compliantly booed. “He said it’s for slackers, quote, slackers, who don’t deserve relief.”

“Who in the hell do they think they are?” Biden asked.

Well, Cruz was happy to answer the disingenuous leader.

“Unbelievable gall,” the great senator tweeted. “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.”

Mic. Drop.

And lest you were wondering, according to the Committee for a Responsible Federal Budget (CRFB), Senator Cruz is exactly right: Biden’s “forgiveness” will in large part go to borrowers whose salaries are in the top half of American incomes.

As BizPac Review reported, the CRFB analysis found that the plan will provide between 57% to 65% of benefits to individuals in the top 50% of income brackets.

“The analysis found that the loan forgiveness plan will benefit high-income borrowers because many will be grandfathered in based on their reduced 2020 earnings, while many low-income buyers will be excluded due to a lack of resources,” BPR noted.

What’s more, as Cruz pointed out, comparing student debt to the PPP program, which was enacted by former President Donald Trump and continued under Biden’s reign as Dems insisted the COVID-19 lockdowns must drag on, is nothing short of ludicrous.

Simply put, while would-be college graduates entered into the loan agreements willingly, the United States government decided to close down small businesses without once consulting the Americans that such a move would certainly crush.

Said one user on Twitter, “I don’t think any members of government should have been able to qualify for these loans, but I know they prevented me from getting laid off, and keeping my medical benefits, which saved me over $57,000 in medical expenses. PPP loans were designed to be forgiven.”

Melissa Fine
Latest posts by Melissa Fine (see all)

Comment

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.

Latest Articles