Capitol Rioters PPP Loans are Forgiven, But Not Those Damn Students Loans
I saw this story on PPP Loans at Crooks and Liars (Chris capper Liebenthal). It was a “wow” moment.
“The Capitol Rioters Had Their Big PPP Loans Forgiven by the Government” Daily Dot, Eric Leval
“The Paycheck Protection Program (PPP), promised to cover the cost of employee payroll of small businesses, at a time when the entire nation was shutting down and unable to make ends meet.
Amazingly, some of the people who received the money responded, less than a year later, by attempting to kill the very legislators who put the program in place—the ones who kept their businesses afloat and employees able to survive.
But the government is forgiving them anyway.
In a ProPublica review of PPP data, the Daily Dot found many well-known Capitol insurrectionists have had their loans forgiven. Some were nearly a million dollars.”
Meanwhile, Allan Collinge and former students of Student Loan Justice Org. have been campaigning for student loan debt relief. They are being ignored. Congress and successive presidents do not want to take action. The reasoning here is well we did it and paid off our loans, you should be able to do so too!.
Student loan devices holding eighteen year olds, adults, and the elderly trying to get ahead has changed quite a bit since the nineties. The last nail in the student loan coffin came in 2005 when Dems and Repubs both signed the 2005 Financial Modernization Act. There is no relief, the burden grows, and less then 50% are making payments,
Miscreants attack the Capitol, as Congress counts Electoral Votes, and they receive preferential court treatment? And the government is canceling their loans? Maybe the 1 million students who signed Allan’s petition should attack the capitol too?
I noted in one of my posts years ago that what this nation has succeeded in doing is flipping the purpose of government 180 degrees. Coming out of the New Deal we had set up a government that truly understood it’s roll beyond law and order.
We off loaded the risks of life and living onto the government at the bottom of the economic ladder. We had a scale that would load it back on as one move up the ladder. The scale assured some form of success. It wasn’t perfect but we had moved in the proper direction.
Now we have reversed that (thank you Milton and the financializing of everything). We off load the risks of life and living onto government as one move up the ladder.
This is why the phrase “drowning in debt” is so wrong for our present time. People are not drowning, they are starving for oxygen.
Maybe there is some hope being that unions have broken a few walls.
Becker,
Per the financialization aspect, then one would gather you were referring to Milton Friedman, the Puritan saint of capitalism, rather than John Milton the Puritan saint of protestant Christians, if that does not risk being a distinction without much difference. In any case, Milton Friedman was the pop icon of Austrian economics. The big stinkers of that movement were Joe Schumpeter, Ludwig von Mises, and Friedrich Hayek. If John Milton was correct, then all Austrian economists will have a hot time in the afterlife.
Related…
GOP Dark Money Group Giving Big
Great point here!
The cruel ironies surrounding the federal student loan program are almost never ending-
One side-irony: It is likely that a goodly number of those rioters actually have student loans…but they would probably never fight for student loan justice because they perceive the issue as a liberal one. Sad.
Alan
Thanks. Have a good New Year. Maybe this next year for all of you? One can only hope.
Bill