Newsflash: Kamala Harris is wildly incompetent.
She gets basic facts wrong. She can barely string two sentences together. And she never fails in putting on rose-colored glasses, putting personal ideological considerations above commonsense and reason.
So, it shouldn’t surprise anyone that this socialist now wants the federal government — over $30 trillion in debt — to increase its lending outlays to near infinity, beyond what even traditional lenders are comfortable giving, even if it means expanding taxpayer fraud to the tunes of millions or even billions of dollars.
Harris, second (or first?) in command in the “Money Grows on Trees” Harris-Biden administration, is pushing for financial technology firms (fintechs) to be allowed to lend more to small businesses. She says the Small Business Administration working more closely with them will enable minority businesses to receive more capital, helping to reduce income inequality and other racial inequities.
The problem? Aside from the fact that her plan will spend more money that the government doesn’t have, fintechs are the companies responsible for the vast majority of the estimated $80 billion of fraud that transpired in the $800 billion Paycheck Protection Program. Even an investigation and report published by James Clyburn of all people, a strong Kamala Harris ally, came to this conclusion, stating that the fraud permitted by fintechs Blueacorn and Womply, which were involved in nearly one in three PPP loans, was “obvious and preventable.”
Recent reports show that these fintechs went so far as to approve PPP loan applications that utilized headshots of Barbie dolls to “verify” borrowers. They didn’t appear to care about protecting us or our interests; they only seemed interested in making quick profits for themselves. They knew full well that the government would pay them for how many loans they would write and approve, not how well they vetted the loan applications.
Yet Kamala doesn’t seem to care. She wants more government loans and spending to advance her ideological interests, and she wants it now, irrespective of how obviously dire the consequences of doing so will be — and even if it means getting in bed with companies that the SBA has suspended and is investigating.
This is the equivalent of giving the taxpayers’ money straight to Bernie Madoff because of assurances of unheard-of deal terms. It’s laughable and doesn’t make any sense.
Then again, what from the Harris-Biden administration does make sense?
This is an administration that claims to have cured cancer. It’s a White House that thinks gas stoves are the devil — one that has promised to jail fossil fuel executives for no apparent reason. Nothing that it does, says, or proposes should surprise anyone anymore.
Thankfully, members of Congress from both sides of the aisle are fighting Kamala on at least her bizarre lending plan. The Senate Small Business and Entrepreneurship Committee voted nearly unanimously on a bill to stop fintechs from getting closer to the taxpayers’ money in the way the vice president would like. Next, they should claw back the taxpayer money that fintechs earned by enabling fraud.
While all of this represents a step in the right direction, our elected representatives need to do more to stop the incompetency and outright abuse of power emanating from the Harris-Biden administration. They — the Republican-controlled House of Representatives in particular — need to use their investigatory and subpoena powers to discover, analyze, and expose every last piece of regulatory overreach and corruption they can find from this dynamic duo. It’s the only way to ensure the taxpayers remain safe and secure until the White House changes hands.
Charlie Kirk (@CharlieKirk11) is the founder and president of Turning Point USA
The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller.