Sherman, Dems Play ‘PPP Hypocrisy’ Card to Defend College Debt Bailout

State Senator Tom Sherman is endorsed by AFT-NH President Deb Howes.

Are the business owners who accepted PPP assistance during the COVID-19 closures the same as the students who applied for federal loans to attend Dartmouth or UNH?

That’s the argument Democrats like State Sen. Tom Sherman (D-Rye) are making as they defend President Joe Biden’s massive, one-time college debt bailout.

Sherman, who is challenging Gov. Chris Sununu in November, issued a statement attacking the GOP governor for criticizing Biden’s executive order. During an appearance on the WFEA Morning Update with Drew Cline last week, Sununu called Biden’s proposal an “epic economic disaster.”

“Who should pay?” He asked. “It’s the farmers. They are construction workers. These are the people whose kids didn’t go to college. It’s insulting. Everyone should be mad at that. More taxpayer money floods the economy, fueling inflation.

While Biden’s executive action price is generally estimated at $500 billion for a one-time debt bailout, the Penn-Wharton analysis indicates that the total cost could eventually be $1 trillion.

Sununu repeated his criticism on CNN on Sunday morning, calling Biden’s action “intrinsically unfair.”

“It’s about arbitrarily picking a group of individuals, and we’re going to arbitrarily cancel their debt with the stroke of a pen, which, again, won’t even go through Congress. That’s pretty illegal. It adds hundreds of billions of dollars at a time when we are trying to get inflation under control. This is exacerbating the inflationary crisis,” Sununu said.

Sherman’s campaign responded with an email titled “Sununu Hypocrisy on Debt Forgiveness; The family business had $3 million in PPP loans forgiven.

Sherman’s campaign spokesperson Kelly Roberts called it “intrinsically unfair” that Chris Sununu would accept debt relief from his wealthy family’s business and told Granite Staters they should just stand together. make do as monthly bills and energy costs skyrocket. From signing New Hampshire’s first abortion ban to repeatedly handing over to fossil fuel interests and leaving New Hampshire with some of the highest energy rates in the country, it’s clear Chris Sununu can’t do trust only Chris Sununu.

(Sununu resigned as CEO of Waterville Valley Resort and left his position on the board in December 2016.)

It wasn’t just the Sherman campaign. Progressive State Representative David Meuse (D-Portsmouth) also launched the attack.

“Perhaps the hypocrisy wouldn’t be so striking if it weren’t so blatant,” Meuse wrote in an op-ed. “Obviously, it’s good to look down on people with student debt. But when it comes to canceling taxpayer-funded loans agreed to by Sununu family business interests, “it’s different.”

The White House is also there. The Biden team took to their Twitter feed to post the amount of PPP aid GOP members of Congress have received for their businesses.

For example, U.S. Rep. Mike Kelly (R-Pa.) tweeted, “Asking plumbers and carpenters to pay off loans from Wall Street advisers and lawyers isn’t just unfair. It is bad policy. The The White House then retweeted with the message, “Congressman Mike Kelly had $987,237 in PPP loans forgiven.”

Are Democrats arguing that Congress’ PPP program was a form of charity, as opposed to the government tackling the consequences of its foreclosure mandates? Do Democrats think the Granite State companies that agreed to the PPP did something ethically questionable?

Neither Sherman nor Meuse responded to repeated requests from the NHJournal.

Kelly’s family owns a group of car dealerships in western Pennsylvania. Gov. Tom Wolf (D-Pa.) has ordered all auto dealerships closed during the pandemic lockdown. Congress passed a PPP for companies like Kelly’s to fund their employees’ paychecks and health care during the economic crisis created by the government when it ordered the majority of Americans to stay home or shut down their businesses.

“A Democratic governor has declared my family’s business non-essential and closed our doors,” Kelly said in response to the White House. “This money has saved more than 160 essential jobs in western Pennsylvania during the pandemic. PPP loans are designed to be forgiven. Student loans are not. Big difference!”

In New Hampshire, nearly 24,000 PPP loans have been issued in response to COVID-19 lockdowns, with the vast majority going to small businesses.

Tom Boucher, CEO of Great New Hampshire Restaurants, says PPPs and college debt “are not even close to the same category.”

“Every restaurant/entertainment venue/etc. would have closed without the PPP loans. Our restaurants have been closed by the government. It was not my choice. I either had to take out PPP loans or go out of business after 35 years and file for bankruptcy,” Boucher said. “Going to university is an individual decision. It is not imposed on anyone, nor the loans they have taken out.

“What would these detractors have done if they owned a company that employed 750 people? Close, declare bankruptcy and put 750 people out of work? Obviously, they never owned a business.

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