Joy Reid Falsely Equates Biden’s Student Loan Bailout with PPP Loans

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Joy Reid isn’t the smartest person with a primetime show on MSNBC, which is really saying something. The competition is admittedly stiff, yet she proved once again on Wednesday evening during her show The ReidOut how little she knows about almost any topic. Reid displayed her stunning ignorance by equating President Joe Biden’s unconstitutional student loan bailout scheme with the Paycheck Protection Program (PPP) which was essentially compensation for the government shutting down Americans’ businesses during the pandemic. 

Reid started off by bragging that Biden’s student loan bailout “would be the single largest discharge of education debt ever and it was welcomed by roughly 43 million Americans,” and explained how “one-third of adults under 30 owe 34 percent of all student loan debt.”  

“This relief will go towards helping an epidemiologist in New Orleans who cares for her disabled mother or a call center supervisor in Ohio or a teacher in Florida, or I mean, at least it’s supposed to,” Reid said. 

She suggested that the student loan bailout would be going to middle-class or poor graduates when in reality these bailouts will be helping many well-off graduates at the expense of blue-collar Americans who never went to college or never took out loans. 

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Reid whined that according to The Washington Post, “Republicans are looking to sue their way into blocking the relief.” She then attempted to smear Texas Republican Senator Ted Cruz by falsely claiming he ditched “his state when people were literally freezing to death.”

A reference to the early 2021 blizzard in Texas which knocked out the power grid. Cruz simply dropped his family off in Cancun and quickly returned to Texas to assist his constituents. 

Reid then attempted to make Republicans look like hypocrites by detailing the amount of PPP loans they received for their businesses: 

Several of them personally benefited from having Paycheck Protection Program or PPP loans forgiven during the pandemic. That includes Representative Vern Buchanan of Florida, who got $2.6 million forgiven for his car dealership. Marjorie Taylor Greene, who got $182,000 for her family’s construction business. Mike Kelly of Pennsylvania got close to $1 million forgiven for his four car dealerships. Greg Pence, brother of former Vice President Mike Pence, got $79,000 forgiven for his two antique malls. And Kevin Hern of Oklahoma who owns a restaurant management company, well he got more than a million dollars in forgivable loans.

What Reid fails to understand is PPP loans were essentially compensation for the government shutting down their businesses and the economy during the unnecessary government lockdowns during the pandemic. 

That is a big difference from students who willingly took out loans for their college degrees and now don’t want to pay them back. 

Joy Reid’s ignorance was made possible by Liberty Mutual. Their information is linked. 

To read the transcript of this segment click “expand”: 

MSNBC’s The ReidOut
9/7/2022
7:48:46 p.m. Eastern 

JOY REID: President Biden recently fulfilled a campaign promise to cancel some federal student loan debt, it would be the single largest discharge of education debt ever and it was welcomed by roughly 43 million Americans. To put that in clearer terms, one-third of adults under 30 owe 34 percent of all student loan debt. This relief will go towards helping an epidemiologist in New Orleans who cares for her disabled mother or a call center supervisor in Ohio or a teacher in Florida, or I mean, at least it’s supposed to. But if Republicans have their way it might not happen. 

The Washington Post reports that Republicans are looking to sue their way into blocking the relief. A number of Republican attorneys general from a state — from states including Arizona, Missouri, and Texas have met privately to discuss a strategy that could see multiple cases filed in different courts across the country. It should shock absolutely no one that Texas Senator Ted Cruz, the guy famous for ditching his state when people were literally freezing to death, is leading the charge. Now, mind you, Republicans who seem to really enjoying making regular Americans’ lives harder sure do love loan forgiveness when it comes to their own personal businesses. 

Several of them personally benefited from having Paycheck Protection Program or PPP loans forgiven during the pandemic. That includes Representative Vern Buchanan of Florida, who got $2.6 million forgiven for his car dealership. Marjorie Taylor Greene, who got $182,000 for her family’s construction business. Mike Kelly of Pennsylvania got close to $1 million forgiven for his four car dealerships. 

Greg Pence, brother of former Vice President Mike Pence, got $79,000 forgiven for his two antique malls. And Kevin Hern of Oklahoma who owns a restaurant management company, well he got more than a million dollars in forgivable loans. Oh, and there’s another thing student loan borrowers have to contend with. 

Indiana, Mississippi, Minnesota, Wisconsin, Arkansas, and North Carolina all require that you pay taxes on any student loan debt that’s forgiven, while not requiring the same for PPP loans. Sorry, poors. You should have been born rich or run for Congress.

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