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First three things are on point, but we tried the last one. The "Paycheck Protection Program" that immediately ran out of money was our attempt to do something
by hraedon 6y ago
First three things are on point, but we tried the last one. The "Paycheck Protection Program" that immediately ran out of money was our attempt to do something similar.
In a perfect world, a much larger PPP would have been more efficient and easier to manage than expanded unemployment benefits; in world we live in, that would have meant trusting an administration that prides itself on incompetence and corruption to handle what would have been the bulk of our economic response.
- DennisP 6y agoYes, we implemented that poorly. But other countries have done it better, as my link points out, so it's not like it's the policy which is flawed. The shortcomings of our executive branch are basically the reason we haven't done any of these things well. But one simple thing we could have done better is to pay the banks a fixed fee, instead of a percentage of the loan, which incentivized banks to ignore the smaller businesses.