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With the Democrats in Congress retreating from their effort to stuff the fake COVID-19 stimulus bill with many provisions irrelevant to the virus, including many that would have helped them steal elections, the basic features of the new $2 trillion bill are now becoming clear.
Not surprisingly, it is filled with wonderful payoffs to big and small business, as well as the voters, all of which our federal government cannot afford, and all of which are sadly desperately needed by the citizenry because of the very bad policies the government imposed on the nation because of the virus.
- Big Businesses: About $500 billion can be used to back loans and assistance to companies, including $50 billion for loans to U.S. airlines, as well as state and local governments.
- Small Businesses: More than $350 billion to aid small businesses, including $10 billion in SBA grants of up to $10,000 for small business costs, and $17 billion for SBA to cover six months of payments for businesses with current SBA loans.
- Hospitals: A $150 billion boost for hospitals and other health-care providers for equipment and supplies.
- Individuals: Direct payments to lower- and middle-income Americans of $1,200 for each adult, as well as $500 for each child.
The bill has a number of restrictions on these payments, which on their face make sense. The problem however is that so far the numbers of people sick from COVID-19 simply do not justify this spending.
No matter. Chicken Little has won again. Common sense no longer exists.