PPP Loans should be paid back

12,395 Views | 158 Replies | Last: 1 yr ago by Stat Monitor Repairman
Bexar Ag
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11:14a, 6/30/23
If student loans are required to, why arent PPP loans. That was free money given to business owners who pocketed that cash. Pure Socialism.

https://www.npr.org/2023/01/09/1145040599/ppp-loan-forgiveness
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Maroon Dawn
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In reply to Bexar Ag • 11:16a, 6/30/23
AG
Bexar Ag said:
If student loans are required to, why arent PPP loans. That was free money given to business owners who pocketed that cash. Pure Socialism.

https://www.npr.org/2023/01/09/1145040599/ppp-loan-forgiveness


You mean the loans that happened because government shut down your small business and it was the only way to keep people from losing everything?

Those loans?

Because that's SLIGHTLY different from voluntarily taking out money for a degree
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93MarineHorn
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11:17a, 6/30/23
PPP was to help businesses the gov't effectively closed during the pandemic thanks to fearmongering and cowardice mostly from people like you and clowns you vote for. Surely you aren't so stupid as to miss the difference between PPP and student loans.
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Ducks4brkfast
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11:19a, 6/30/23
AG
One was an act of congress. One was not.

Hth.
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BearJew13
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11:19a, 6/30/23
AG
PPP loans were made specifically so employees, some who had student loans, would not be let go and would be able to continue making payments on said loans.
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Stupe
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In reply to 93MarineHorn • 11:21a, 6/30/23
S
93MarineHorn said:
PPP was to help businesses the gov't effectively closed during the pandemic thanks to fearmongering and cowardice mostly from people like you and clowns you vote for. Surely you aren't so stupid as to miss the difference between PPP and student loans.
Do a post search for that user.
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twk
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11:21a, 6/30/23
AG
As a moral or policy question, you might have a point.

As a matter of statutory law, I'm afraid not. There is no law authorizing blanket forgiveness of student loans. Congress can do that, if it wants, but that has not happened.
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LarryElder
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11:22a, 6/30/23
you know much fraud was perpetrated on PPP loans..smh
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aggie93
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In reply to Bexar Ag • 11:24a, 6/30/23
AG
Bexar Ag said:
If student loans are required to, why arent PPP loans. That was free money given to business owners who pocketed that cash. Pure Socialism.

https://www.npr.org/2023/01/09/1145040599/ppp-loan-forgiveness
PPP loans had specific terms that if you followed those terms they would be forgiven. Businesses took out those loans because of the forgiveness component UP FRONT, otherwise they would not have taking out the loans for the most part. They were designed as a subsidy to keep companies from laying off staff during the shutdown and if you failed to live up to the terms of that subsidy you had to pay it back.

Student loans have no such provision. They are very clear you are responsible for them and will be paying them back. If you didn't have to pay them back then millions of people would have taken them out instead of paying for school with their own money.

Comparing these 2 situations is either dishonest or completely ignorant.
"The most terrifying words in the English language are: I'm from the government and I'm here to help."

Ronald Reagan
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Ag87H2O
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In reply to Bexar Ag • 11:24a, 6/30/23
AG
You mean those loans approved into law by Congress and the President that were to help businesses get through the government imposed shutdowns so they wouldn't have to lay people off? Loans that the government agreed to forgive up front.

You're trying to equate apples and grapefruit.

I know it's hard, but people are just going to have to repay the student loans like they agreed. Time to be an adult.
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sam callahan
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11:26a, 6/30/23
Intellectual dishonesty drives me nuts.
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Aggie95
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11:26a, 6/30/23
AG
The PPP loans were structured in a certain way that if criteria was met, payments were reduced or forgiven.

Student loans have one criteria... you get x dollars, you pay x plus interest back.

These 2 scenarios are not complicated but apparently beyond the grasp of ignorant dems.
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ABATTBQ11
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11:28a, 6/30/23
AG
This did not go how OP thought it would...
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goatchze
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11:28a, 6/30/23
AG
PPP loans should be paid back per the terms of the loan agreement.
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Logos Stick
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11:32a, 6/30/23
It's amazing the stuff that OP comes up with.

Reminds me of this:

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Dimebag Darrell
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In reply to Maroon Dawn • 11:32a, 6/30/23
Maroon Dawn said:
Bexar Ag said:
If student loans are required to, why arent PPP loans. That was free money given to business owners who pocketed that cash. Pure Socialism.

https://www.npr.org/2023/01/09/1145040599/ppp-loan-forgiveness


You mean the loans that happened because government shut down your small business and it was the only way to keep people from losing everything?

Those loans?

Because that's SLIGHTLY different from voluntarily taking out money for a degree
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Urban Ag
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11:33a, 6/30/23
AG
All of you, sans the Op/Hedge, are correct in that it's an apples to oranges argument being laid out.

That said...........companies with "essential workers" got PPP loans too. I know, I consulted for a company that was never shut down (telecom construction) and they got their PPP. I helped them get it. There was also a ton of fraud and I don't think the feds were really that stringent ensuring that any entity that received PPP was following the rules.

But year, bad comparison.
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IslanderAg04
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11:34a, 6/30/23
You ready for a complete collapse of small to mid sized business's?
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Old May Banker
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11:34a, 6/30/23
AG
Amongst the dumbest OPs ever written. Congrats on that.
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Bexar Ag
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In reply to Maroon Dawn • 11:35a, 6/30/23
You know how much fraud with those loans has taken place?
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cone
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11:35a, 6/30/23
AG
Why didn't they pass student loan forgiveness in 2021?
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Tex100
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In reply to 93MarineHorn • 11:36a, 6/30/23
AG
93MarineHorn said:
PPP was to help businesses the gov't effectively closed during the pandemic thanks to fearmongering and cowardice mostly from people like you and clowns you vote for. Surely you aren't so stupid as to miss the difference between PPP and student loans.
Give OP some credit. He, she, or preferred pronoun could easily be that stupid.
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Urban Ag
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In reply to cone • 11:38a, 6/30/23
AG
Because the dems don't really want it. Maybe the twits on the Squad do but the power elites don't. They just want the dupes to think they want to but those evil Republicans in Congress and on the Supreme Court wouldn't let them and hate young people.

Student loans are power. Just like federal drug laws. They don't give up power.
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WestTexasAg
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In reply to Bexar Ag • 11:38a, 6/30/23
AG
Bexar Ag said:
If student loans are required to, why arent PPP loans. That was free money given to business owners who pocketed that cash. Pure Socialism.

https://www.npr.org/2023/01/09/1145040599/ppp-loan-forgiveness
I take it you don't own a business, and don't have employees that you kept on board during Covid while essentially shut down. Perhaps that is the reason for this terrible take.
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Bexar Ag
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In reply to WestTexasAg • 11:40a, 6/30/23
If a business can't keep reserves of employees salary that's their own fault, why should taxpayers bail out these business owners who used the loans for investment properties, personal cash reserves, lavish trips, etc…
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Teslag
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In reply to Bexar Ag • 11:43a, 6/30/23
AG
Bexar Ag said:
If a business can't keep reserves of employees salary that's their own fault, why should taxpayers bail out these business owners who used the loans for investment properties, personal cash reserves, lavish trips, etc…
A business should keep months of cash reserves to pay salaries of employees, for not working when the government shuts their business down for the flu?
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Harry Stone
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11:44a, 6/30/23
AG
I nominate this dumbest thread of 2023.
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LarryElder
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11:44a, 6/30/23
LOL I know soo many businesses just took the money and closed down anyway.
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fka ftc
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In reply to Harry Stone • 11:46a, 6/30/23
Harry Stone said:
I nominate this dumbest thread of 2023.
I second the motion.
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fka ftc
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In reply to LarryElder • 11:48a, 6/30/23
LarryElder said:
LOL I know soo many businesses just took the money and closed down anyway.
Yea, I mean there was no requirement to receive the forgiveness... like showing you actually kept people on and paid them during that time.

Fraud and abuse is all to be laid at the feet of bad banks and bad government admin - further evidencing that government is never the most efficient way to distribute money if control and anti-fraud are to be part of the equation.
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TxTarpon
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In reply to Maroon Dawn • 11:48a, 6/30/23
Govt loan is a Govt loan, but not always a "good" govt loan?
It depends on who is getting free cash.

PPP Application below:

What does "Borrower" mean to you?
Maybe Bill Clinton could help with that definition of "is"?

$835b was the total price tag for PPP
$200b in PPP fraud (23%)
$30b recovered
Churches and Planed Parenthood got loans and loans forgiven.
That sure brought the Rs and Ds together.

Airlines got $80b during COVID, but they are a private bidness, right?
$700b in unemployment benefits.

"Free money" sure makes lots of people happy.
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rolling_ridgeag05
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In reply to Harry Stone • 11:48a, 6/30/23
Why stop at dumbest thread of 2023? Throw 2022 and others in there as well. I've seen some doozies but this is pretty bad.
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Teslag
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In reply to LarryElder • 11:49a, 6/30/23
AG
LarryElder said:
LOL I know soo many businesses just took the money and closed down anyway.

If they did that they would be required to pay back the loan. They had to keep the payroll for a set amount of time and it wasn't short.
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TxTarpon
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In reply to Teslag • 11:50a, 6/30/23
Teslag said:
LarryElder said:
LOL I know soo many businesses just took the money and closed down anyway.

If they did that they would be required to pay back the loan. They had to keep the payroll for a set amount of time and it wasn't short.
See above with the $200b in fraud reference
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Aglaw97
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In reply to Bexar Ag • 11:51a, 6/30/23
AG
Bexar Ag said:
You know how much fraud with those loans has taken place?


Then prosecute the fraud. Absolutely! That's a wholly separate issue from your original post.
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