(FreedomJournal.Org)- Symone Sanders, a senior campaign adviser for Joe Biden who appears regularly in the national media, made the shocking claim recently that President Donald Trump is responsible for the Paycheck Protection Program running out of money – even though the Democrats are the ones who blocked moves taken by Congressional Republicans to refund it.
The Paycheck Protection Program was set up under the CARES Act, a bipartisan piece of legislation designed to aid businesses across the United States during this unprecedented time of economic uncertainty. It quickly ran out of money, however.
In a virtual town hall event, Sanders took aim at the poor “management” of the PPP, presumably to deflect blame from congressional Democrats and House Speaker Nancy Pelosi who proudly blocked additional funding for the program.
“So this is truly about management,” Sanders said. “Right, because Congress went and di their job. Congress’ job was to pass the bill to allocate the funds and it is the administration’s job to administer these funds.”
Sanders failed to explain, however, how she expected the administration to deliver a limited amount of money to businesses all over the country who needed more than what was provided.
Then, in a push for Biden, she implies the presumptive Democratic nominee would have handled it better.
“Hoe Biden has done this before, Okay?” she said.
Except, he actually hasn’t. He may have overseen some similar programs, but no American president or vice president has overseen an economic decline of this exact nature before or been required to spend so much government money to keep the economy moving.
Sanders said the Trump administration has “failed” at allocating those funds and that it is “unconscionable” that the money has run out.
In reality, it’s just basic math.
The average loan size given to businesses, according to Brewbound, was $206,000. That is $20,600 every week in payroll. Roughly three-quarters of all loans handed out by the government were less than $150,000, which accounted for more than $58 billion. In less than two weeks, 1.6 million loans were given through 4,900 lenders.
The simple truth is…it needs more money, and American businesses need access to these funds. But the Democrats are blocking it.