Want money? No problem. How many millions?
And don’t worry about paying it back.
What’s that all about?
Paycheck Protection Program (PPP)
The PPP was supposed to help struggling small-business to keep afloat during this economic crisis.
But it turned into “free money,” grab-as-much-as-you-can for publicly traded companies.
(Results of intense lobbying efforts prior to passing the CARES Act.)
The only thing ‘small’ about these businesses is their sense of decency.
How much money we are talking about?
The CARES Act allocated $349 billion for PPP.
Yes, you read that right: 2 weeks.
How did this happen?
Well, they didn’t do it alone, for sure.
They’ve had help.
I do know one thing for sure:
Meanwhile, big business and other special interests know better how the system works.
They hire lobbyists.
And sent them to Washington.
Then Congress starts giving out ‘party favors’ to the highest bidder.
(Read that: the ones with the best lobbyists.)
And they keep doing it.
Because we don’t hold them accountable for their actions
What’s been done about this?
No problem, we’ve taken action.
We’ve allocated another $310 billion to the Paycheck Protection Program.
This brings the total up to $659 billion.
Thanks for visiting.