Harvard University has the largest endowment of any university in the world at $40.9 billion. Thus they can easily handle any economic issues that arise for them in consequence of the coronavirus. But they sought and were granted $9 million under the financial stimulus measure known as the CARES Act.
President Trump recognizes their comfortable situation and said at the Tuesday virus briefing, “Harvard’s going to pay back the money. They shouldn’t be taking it. When I saw Harvard—they have one of the largest endowments anywhere in the country, maybe the world. They’re going to pay back the money.”
As of Wednesday morning Harvard has refused to give the money back, the ultrawealthy school instead preferring to ride on the backs of everyday American taxpayers during a time of national crisis.
Congress was also not amused at the greedy school’s attempt to soak taxpayers, “Why is Harvard, with its multi-billion dollar endowment, much of it built with help from taxpayer money, getting a bailout? This is obscene,” said GOP Senator Josh Hawley of Missouri.
GOP Senator Ted Cruz of Texas said, “Taxpayer relief funds should go to those in real need. Harvard University has a $41bn endowment—the largest in the world. Put another way, Harvard’s endowment is $13mm per student, or $171mm per faculty member…Dear Harvard: Thank you for my law degree and an excellent legal education. You’re very rich; many people are hurting. Now give the money back.”
Other matters touched upon at the daily virus briefing included the sixty day immigration pause, the U.S.N.S. Comfort being deployed back to Virginia, the improving virus situation in Chicago and Boston, and the still threatening virus situation in the DC metropolitan area.
The president expressed hope that Kim Jong Un would recover from his health issues and told reporters that seasonal farm help would not be affected by the immigration pause. In anticipation of the next phase of virus recovery legislation President Trump made a point of extolling infrastructure repair and FDA chief Dr. Scott Hahn informed the public there are 30 clinical trials for virus treatments in various stages of development.
This piece was written by PoliZette Staff on April 22, 2020. It originally appeared in LifeZette and is used by permission.
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