Another $500Bn is being thrown on the fire.
Not that we don't need it, our economy is on fire and our people are in peril but here we are, after being locked into our homes and out of our jobs for over a month and WHERE are the stimulus checks? Very few people have gotten their promised $1,200 so far and almost no small businesses have gotten their Paycheck loans, which were meant to allow them to pay their employees -that's what Congress is supposed to be doubling down on this morning but what is preventing 75%-80% of this money from being misdirected to big businesses as well?
Republicans had initially wanted only to replenish the small-business fund (which they looted), while Democrats wanted to also boost money for hospitals, testing, food stamps and state and local governments. Although under pressure last week from some centrist Democrats uncomfortable with delaying the small-business aid, Democratic leaders saw several of their requests met in the emerging deal.
It took two weeks for the money allocated in March to reach the banks and then it took only 3 days before the banks ran out of money and the Republicans act like that's shocking but the money is supposed to cover 2 months of salaries and rents and utilities and small businesses employ 50% of the people in this country and those people earn $6Tn a year so $500Bn a month so salaries alone for 2 months are $1,000Bn so STOP BEING SHOCKED THAT $350Bn WASN'T ENOUGH MONEY!
F'ing MATH people – look into it….
Meanwhile a lot of businesses, in good faith, hung onto their staff and kept paying their bills because the President assured them those bills would be covered and then the first round of loans was completely inadequate and now the 2nd round of loans is still inadequate and I doubt many small businesses can afford to keep paying their staff for 2 months based on empty promises – so look for lots more layoffs.
“People are feeling like they’ve lost everything,” CNBC quotes Allie Fleder, chief