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Interestingly this is missing an important piece of context that led to PPP in the first place: A novel worldwide pandemic that was/is killing a lot of people a
by ProfessorLayton 4y ago
Interestingly this is missing an important piece of context that led to PPP in the first place: A novel worldwide pandemic that was/is killing a lot of people and forced businesses to close — causing an immediate and brutal financial emergency for small businesses in particular.
Small businesses account for roughly 60% of all jobs in the U.S.
Yes, adding processes to reduce fraud would've been helpful in reducing waste, but how do you suppose that should've happened? What kind of infrastructure do we have to means test that many businesses? Could it have happened within a typical pay period or two? How were workers/businesses supposed to eat and pay bills until then?