Biden continues to compare student loan distribution to PPP, calling Republicans hypocrites

President Biden on Saturday again hit out at Republicans who received emergency loans for small businesses during the COVID-19 pandemic, but are now criticizing his action to forgive hundreds of billions in student loan debt.

During a Congressional Black Caucus Foundation event in Washington DC, Biden compared his executive action to cancel $10,000 in federal student loan debt for certain borrowers making less than $125,000 a year and up to $20,000 for Pell Grant recipients to Paycheck Protection Program (PPP) ) established by the CARES Act, which passed Congress with bipartisan support during the Trump administration.

Several Republicans now critical of Biden’s student loans ran small businesses or were affiliated with businesses that applied for and received OPP loans in 2020 and 2021, which have since been forgiven.

“I don’t want to hear a word from those members of Congress, if you notice, whose families got tens of thousands of dollars and several millions of dollars in pandemic relief relief,” Biden said Saturday. “The same ones criticizing. Give me a break. Come on.”

President Biden speaks about the ongoing federal response to Hurricane Ian from the Roosevelt Room of the White House in Washington, Friday, Sept. 30, 2022.

President Biden speaks about the ongoing federal response to Hurricane Ian from the Roosevelt Room of the White House in Washington, Friday, Sept. 30, 2022.
(AP Photo/Susan Walsh)

HOUSE REPUBLICANS ADVISE BIDEN’S ‘CLOWN’ ATTACKS COMPARING COVID LOANS TO STUDENT LOANS.

The White House Twitter account sparked a social media firestorm in August after it targeted and shamed several prominent GOP members by name for taking out PPP loans, including Reps. Marjorie Taylor Greene, R-Ga., Matt Gaetz, R-Fla., Vern Buchanan, R-Fla., Markwayne Mullin, R-Okla., Kevin Hern, R-Okla., and Mike Kelly, R-Penn.

The New York Times published an article boasting of the White House’s attempt to paint Republicans as hypocrites, but acknowledged in the seventh paragraph that the comparison “is not entirely equivalent.”

President Joe Biden speaks during the White House Conference on Hunger, Nutrition and Health at the Ronald Reagan Building, Wednesday, Sept. 28, 2022, in Washington.

President Joe Biden speaks during the White House Conference on Hunger, Nutrition and Health at the Ronald Reagan Building, Wednesday, Sept. 28, 2022, in Washington.
((AP Photo/Evan Vucci))

WHITE HOUSE HANDSOMELY SHAMS GOP CRITICS OF BIDEN STUDENT LOAN HANDOUTS, BEING LABELED: ‘CREDIT OF MEDICAL PRACTICE?’

“The OPP loans were effectively designed to be forgiven,” The Times wrote. “The federal government offered them without the traditional standard of vetting business loans in an effort to quickly distribute money to businesses struggling during the early years of the coronavirus pandemic. Almost all businesses with 500 or fewer workers qualified for low interest rates loans, which were forgiven as long as the money went to allowable costs.”

During his speech Saturday, Biden also criticized Republicans for criticizing him over the Inflation Reduction Act, a climate and health law that experts predict will do little to curb inflation.

U.S. President Joe Biden speaks at the White House Conference on Hunger, Nutrition and Health in Washington, DC, Wednesday, Sept. 28, 2022.

U.S. President Joe Biden speaks at the White House Conference on Hunger, Nutrition and Health in Washington, DC, Wednesday, Sept. 28, 2022.
(Yuri Gripas/Girls/Bloomberg via Getty Images)

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“I’m so sick of Republicans saying we’re the big spenders. Give me a break. Give me a break,” Biden said, claiming the bill would reduce the federal deficit by $300 billion over the next 10 years .

“As a result, we can afford—I know I’m getting beat up by the Republicans, but come on—we can afford to cancel $10,000 in student debt and $20,000 if you had a Pell grant for Americans who earn under $125,” he said.

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