VIDEO: Sen. Kennedy Shocked by Joe Biden’s Rushed Loan Approvals Worth $93 Billion

A recent exchange between Sen. John Kennedy (R-LA) and U.S. Secretary of Energy Chris Wright revealed shocking news about former President Joe Biden’s (D) loan approvals while he was in office.

The news comes as Democrats have screeched as President Donald Trump’s administration and the Department of Government Efficiency (DOGE) has been pulling the curtain back on government waste, fraud, and abuse, Twitchy reported on Friday.

The outlet noted American taxpayers have been carrying a heavy financial burden. The exchange between Kennedy and Wright happened on Wednesday during a Senate Appropriations Committee holdings hearing where they spoke about a 76-day period between when Trump was elected and when Biden left office:

“And during that short period of time, 76 days, how much taxpayer money went out the door of the Department of Energy?” Kennedy said, to which Wright replied, “From the loan program office, in loans and commitments, $93 billion dollars. Well over twice as much as in the previous 15 years.”

“How do you vet and do due diligence on a loan in 76 days? One loan, much less $93 billion dollars. How do you do it?” Kennedy queried. Wright said he believes it was clear it was not done in many cases.

He added that “There are lots of funds that have gone out the door and commitments that were made from businesses that provided no business plan, no numbers about their own financial solvency.”

Kennedy pressed the matter further, asking Wright, “So you’re telling me that the Department of Energy, in the 76 day period, before their boss was gonna leave office, gave or loaned money to entities that had no business plan?”

Wright said he was correct, later adding, “I’ve come in with great concern about how this institution, this great American institution, has been run and how American taxpayer money has been handled.”

Social media users shared their thoughts on the exchange, one person writing, “Democrats are thieves!” while someone else said, “This horrible corruption needs aggressive investigation and it has to stop. It’s what we voted for.”

Another example of wasteful lending during Biden’s presidency was in 2023 when his administration loaned Ford and its battery manufacturing partner billions of dollars to help build three electric vehicle battery plants in his push for green energy, per Breitbart News.

Kennedy in February highlighted some of the most egregious findings by the Elon Musk-led DOGE, saying, “Musk is doing what the American people have wanted for years. But in Washington, common sense is illegal.”