PPP June observations... then July extension... then the second ending August 8, 2020
Published August 5 2020 updated August 5 2020 2 minutes 56 seconds reading time.
The Paycheck Protection Program is once again coming to an end, the same as it did in June. Do we have the Senate onboard to extend the PPP again or do we declare the pandemic a disaster and shut the doors to small business? Wait, we are doing just that!
June observations... then July extension... then the second ending August 8, 2020...
Will our federal government learn that a pandemic has no expiration date?
In the Words of Louisiana Senator John Kennedy: "We have enough trouble doing a budget by itself. We haven't had one since Moses walked the earth. It's embarrassing." Paycheck Protection Program comes to an end, again...
Greatest Hit of the Pandemic since calling you for Contact Tracing information is the $1,000 iGrant. This product from our congressional representatives has no true role in disaster assistance. It also has very little value once you calculate the total processing costs of one $1,000 iGrant. It was said on the senate floor, and I'm paraphrasing here, with 300+ economic advisors in Washington, we seem to be able to offer the same quality assurance in economic forecasting as a psychic hotline.
When stories hit the front page that our reopening may be delayed because of the lack of social responsibility caused by some confusion between our inherit rights and what our 7th grade American politics class instructor told us. The general concern from the people is how we pay for things when we are not earning.
Next item on the chopping block is Unemployment Insurance coupled with Pandemic Unemployment Assistance. I know our state has had its first bill presented to declare the federal disaster of this pandemic over. This comes from a politician that is very much concerned by his circles and his earnings. He was pushed back for now, but unless you speak to your congressional representatives you'll have one just like I do that will end your disaster recovery and pull the plug on any medical and household assistance you would need if you became ill.
Update July 1, 2020: "...Senate unanimously passed a short-term extension of the Paycheck Protection Program (PPP) through August 8, 2020." What do you say now Senator Kennedy? Third round or should we just reopen or let those that didn't budget for more than 28 days to just fail?