I don't think there's a bigger story right now than this: As the U.S. economy collapsed, Congress passed a $2 trillion stimulus. Trump signed it into law and touts its success every day.
And yet: A month later, most individuals and small businesses haven't received a penny.
And yet: A month later, most individuals and small businesses haven't received a penny.
Most news outlets have largely focused on the legislation itself, not the implementation, which has been a failure to this point.
The reason, I think, is that we took the execution for granted because we're used to having a competent executive branch. That's no longer the case.
The reason, I think, is that we took the execution for granted because we're used to having a competent executive branch. That's no longer the case.
If you're poor or you own a struggling small business, you have to really wrap your mind around the fact that you're on your own. Things aren't the way they used to be.
The whole point of $1,200 per person was that it would come relatively immediately. That would have been useful. *But the payments haven't come.* As we approach 20% unemployment, $1,200 seems more laughable by the day.
At the same time, SBA promised small business disaster assistance loans for up to $10,000 that could arrive within as little as "three days." (Though that wording seems to have been removed.) Companies are applying and simply not getting a response. sba.gov/funding-progra…
