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Honestly, this was foreseen by everybody writing commentary. All the coverage of the paycheck protection program mentioned that the loan terms were extremely ge
by Eridrus 7y ago
Honestly, this was foreseen by everybody writing commentary. All the coverage of the paycheck protection program mentioned that the loan terms were extremely generous, and the money was not enough to cover everyone who was eligible, so it was going to run out really quickly.
The only answers here are political: to hold legislators to account for passing laws knowing they have not provided adequate funding and basically running a government-sponsored lottery.
- BFatts 7y agoI heard estimates it was near $2T to fund it properly.
- elliekelly 7y agoWhat the program needed was for applicants to demonstrate they had exhausted other lines of credit available or at least had been turned down for a loan since their state implemented business closures. The same way unemployment checks are contingent on making some effort to find gainful employment these forgivable “loans” should only be given to those who (1) truly need assistance and (2) have made a good-faith effort not to need assistance.