U.S. Small Business Administration Kelly Loeffler announced this week that Elon Musk and DOGE have discovered a chunk of fraudulent $330 million loans one of which was issued to a 9-month-old child.
This is the kind of garbage that has been going on in our government for decades. And now we finally have a president who has brought in a team to stop it. And yet, Democrats are fighting tooth-and-nail to destroy the effort to end this fraud.
Per Loeffler’s statement:
Today, pursuant to EO 14210, the U.S. Small Business Administration (SBA) announced its plans for an agency-wide reorganization. To return to its founding mission of empowering small businesses, and to restore accountability to taxpayers, the agency will reduce its workforce by 43% – ending the expansive social policy agenda of the prior Administration, eliminating non-essential roles, and returning to pre-pandemic staffing levels…
…Since the pandemic, the agency has nearly doubled in size, in part to support a suite of new progressive programs like the Green Lender Initiative, the Community Navigator Pilot Program, and DEI activities. This partisan agenda, promoted at the expense of America’s small businesses, predictably led to the deterioration of SBA’s services and financial performance.
An estimated $200 billion in Paycheck Protection Program (PPP) and Covid Economic Injury Disaster Loan (EIDL) fraud was ignored for four years. Meanwhile, irresponsible Biden-era changes to the 7(a) loan program generated rising defaults and delinquencies, as well as negative cash flow for the first time in over a decade – which will have future, multi-year consequences for the program.
Musk pointed out that these “loans” were all going to children under eleven years of age. Eleven!
How is that even possible?
Elon Musk: Well, the clinic case of fraud was with the small business administration, where they were handing out loans, $330 million worth of loans to people under the age of 11. I think the youngest, Kelly, was a nine-month-year-old who got $100,000 loan. That’s a very precocious baby you were talking about here. We’re tackling the fraud, waste, and abuse of the agency.
SBA Chief Kelly Loeffler: We’re tackling the fraud and abuse. We’ve seen hundreds of billions of dollars of fraud go unprosecuted, so we’re taking that on. We have a zero tolerance policy for fraud, and we continue to crack down on it and make sure people are held accountable.
President Trump: That’s amazing. And you have a lot of that. You found far too much of it. It’s a pure fraud. We like to use the words waste and abuse because they sound good, but many of these things are pure fraud.
This is your government, folks. This us how illegitimate your government has been.
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