|
|
|
|
|
by jlmorton
2136 days ago
|
|
Much of the bailouts you're speaking of are loans, not grants. The very large exception is the Paycheck Protection Program, which will in most cases become grants to small businesses. Given the need to institute social distancing, this is the only thing which is keeping hundreds of thousands of small businesses alive. Without the PPP, and other loans to large businesses, we would be seeing tens of millions of permanent job losses. Much of this money was not spent, it was loaned. And without it the lasting economic effects would have been catastrophic. I too would like to see additional spending on infrastructure, and I think we can afford it, but I find myself frustrated to see it framed as bailout vs. infrastructure. These financial lifelines are meant to keep our economy treading water while we necessarily social distance. They're not to save corporations from excessive speculation. |
|