Another coronavirus stimulus package was signed into law today. It’s basically just another $484 billion that is being flushed into an abyss.
On Friday, President Trump signed a $484 billion federal relief bill into law that will provide an additional $310 billion in funding to the Paycheck Protection Program designed to keep employees on small company payrolls.
Summary here: https://t.co/zjTboTBGd5
— New York State Bar Association (@NYSBA) April 24, 2020
✓ SIGNED
President @realdonaldtrump just signed Phase 3.5 of coronavirus relief legislation into law!
Here's what it includes:
+ $310B to refill the small business Paycheck Protection Program
+ $75B for hospitals
+ $25B for testing
More help is on the way. pic.twitter.com/s2BkQdZ9EM
— Senate Republicans (@SenateGOP) April 24, 2020
This new bill was put forth because the program meant to fund small business payrolls was looted by larger corporations. It quickly ran out of money. Big banks made billions in processing fees while small businesses received almost nothing.
I’m highly skeptical that this new bill will provide a different result. Even if small businesses do receive the vast majority of funds allocated, it is like trying to put a band aid on a bullet wound. This money will only last a short period of time and that’s especially true if these businesses can’t reopen due to government edicts.
If and when these small businesses do reopen, they’ll be entering a totally different economic environment. One with all sorts of supply chain disruptions and a large number of people afraid to leave their house because of all the virus hysteria pushed by the Jewish media.
I have no idea how it will be possible to avoid a total collapse of the existing system considering what we are dealing with.
