But what is curious is why there was so much outrage from conservatives with Obama's deficit-spending in the 2009 crisis, but the same folks are now so fiercely defending Trump's deficit spending in this particular crisis? It's not just a tribal, purely partisan thing, is it?
part of it partisan....
part of it is HOW the money is being spent
have you really looked at how the money was spent in 08?
the shovel ready jobs that werent?
now....both bailouts WERE needed....the execution was piss poor on Obama's....
this one could be as bad or worse based on size, and number of programs
or it could be the shot in the arm the little guys need to actually stay afloat....
to give you an idea....here is ONE of the programs
SMALL BUSINESS PAYCHECK PROTECTION PROGRAM
The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of
payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and
utilities.
Funds are provided in the form of loans that will be fully forgiven when used for payroll costs,
interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the
forgiven amount must have been used for payroll). Loan payments will also be deferred for six
months. No collateral or personal guarantees are required. Neither the government nor lenders
will charge small businesses any fees.
Must Keep Employees on the Payroll—or Rehire Quickly
Forgiveness is based on the employer maintaining or quickly rehiring employees and
maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if
salaries and wages decrease.
All Small Businesses Eligible
Small businesses with 500 or fewer employees—including nonprofits, veterans organizations,
tribal concerns, self-employed individuals, sole proprietorship, and independent contractors—
are eligible. Businesses with more than 500 employees are eligible in certain industries.
When to Apply
Starting April 3, 2020, small businesses and sole proprietorships can apply. Starting April 10,
2020, independent contractors and self-employed individuals can apply. We encourage you to
apply as quickly as you can because there is a funding cap.
How to Apply
You can apply through any existing SBA 7(a) lender or through any federally insured depository
institution, federally insured credit union, and Farm Credit System institution that is
participating. Other regulated lenders will be available to make these loans once they are
approved and enrolled in the program. You should consult with your local lender as to whether
it is participating. All loans will have the same terms regardless of lender or borrower. A list of
participating lenders as well as additional information and full terms can be found at
Small Business Administration.
The Paycheck Protection Program is implemented by the Small Business
Administration with support from the Department of the Treasury. Lenders
should also visit
Small Business Administration or
Access Denied for more information.
Now my banker has already contacted me about this....and will be contacting me later this week to complete my application. i already have two other applications already pending in the SBA for other programs. This is the ONLY way my doors stay open based on revenues for the last 45 days, if this lasts another 45-60 days.
And i can keep my employees here, and PAID.
