Paycheck Protection Program

[_Icarus]

I applied for the stimulus for my company the day the application was made available nearly three weeks ago. This is the email I receive tonight:



It looks like Red States tend to have first dibs on the funds: https://www.bloomberg.com/graphics/2020 ... n-program/

[_moksha]

https://www.bloomberg.com/graphics/2020 ... n-program/

I would like to think the willingness of Trump to play politics in all things will bite him in the butt, unfortunately he seems to get away with all his crimes thanks to a Republican Senate.

[_ajax18]

I don't know what the best solution to this is but it's not putting 30% of us on unemployment for the next 3 or 4 months.

[_EAllusion]

The PPP money is already gone. There's crude data out now on who got it. Here's a map of the % of requests filled by state.

https://www.cpapracticeadvisor.com/smal ... -ppp-loans

People have noticed that red states faired much better than blue states, but I think more information is needed before drawing any conclusions about political bias here. What's notable to me is that you can see that lots of loan requests weren't approved. There's a lot of businesses out there who likely feel they were left out in the cold.

[_Dr Exiled]

The stimulus bill vote was unanimous and so there is a lot of blame to go around. It's unconscionable that the PPP money ran out and even more so that small business had to go through the banks and not get the money directly from the government. So, what are the democrats doing to right the wrongs here? What is their proposal? Why don't they force a vote on UBI for the duration of the crisis so we can properly ride out the pandemic as Fauci is suggesting we do? Now is the time to strike and force Trump and his corporate raiders to do the right thing and bail out the people for once instead of just wall street. This is where Biden could get more people behind him if he chooses to act.

[_Icarus]

People have noticed that red states faired much better than blue states, but I think more information is needed before drawing any conclusions about political bias here. What's notable to me is that you can see that lots of loan requests weren't approved. There's a lot of businesses out there who likely feel they were left out in the cold.

Yep. What's also notable is how states that were the least impacted had the highest rates of loan approval.

[_Icarus]

I was wondering when this would become news. It was bound to happen.

Dead people are getting $1200 checks in the mail

https://www.marketwatch.com/story/the-i ... =home-page

[_EAllusion]

Democrats, or more specifically Pelosi, Schumer, and their inner circle while Pelosi deliberately keeps Congress shuttered, are near the end of negotiating a second infusion of hundreds of billions into the PPP program. Despite the Trump admin desperately wanting it if only for election related reasons, Pelosi and co. managed to get no meaningful concessions in exchange for just handing it over. No election protection, post office relief, automatic stabilizers, UI, local and state government relief, etc. In fact, the Whitehouse is indicating its trying to block local and state government funding in order to put financial pressure on them to rescind their stay-at-home orders, and Democratic leadership is just going right along with what sounds like a blatant extortion attempt even worse than what they impeached him for. And remember, in the last round of negotiations, the Trump admin flat out lied to them and immediately altered the deal and dared Democrats to try to enforce the law they just passed. Democrats, it seems, declined. All this is occurring while the President is leading a federal government that is telling states to find their own medical supplies, then setting up a sanctions-style blockade where they confiscate the equipment or outbid those states for it, then redistribute it to connected parties as political favors. Democrat negotiations decided to not include "hey, stop that" as a condition of giving billions and billions of dollars.

The "concession" Democrats are parading as an accomplishment in this round is some comparatively small funding for medical providers, which isn't a concession so much as the most basic thing possible in the middle of a pandemic medical providers are being expected to address regardless of ability to pay.

Assuming that reporting is accurate, either they are on the same side as the Trump admin and just care about not appearing that way or they are suckers on the level of Trump University customers.

[_honorentheos]

EA, could you share your source(s), please? It sounds outrageous if true and I'd be interested in reading it first hand.

[_EAllusion]

Which part? I made a few different claims linking together a couple of stories. I'm not sure which part you haven't read about yet. There's a lot of outrageous things in there.