Which would have been better for the US Economy?

The United States allocated $484 billion for PPP loans. These loans would be given to business owners and if they played the rules correctly... would not have to be paid back.

There were (roughly) 113 million taxpayers in 2019. If we would have given the 2019 taxpayers an even cut of the $484 billion... they would have received $3000 in 2020.

Do you think that would have been better or worse for the economy?

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Harmonium1923 · 51-55, M

I support extending and increasing unemployment payments because it effectively helps those who have a demonstrated loss. I also support loans and grants for small businesses because I’m seeing the effect all over my city as one business after another closes when their lease is up. Even a loan or grant that can cover 6 months rent is the difference between closing and surviving.

The stimulus checks are a lazy solution IMHO. Those who need the money need more—and should get more. But many of us who haven’t lost jobs or don’t own businesses really don’t need the checks. Just my two cents, no pun intended.

Keepitsimple · 56-60, F

@Harmonium1923 I agree with this to a degree but honestly we will see a decline in employment until March because it’s easy living having the additional money attached to unemployment and just working less so you meet the requirements to get the extra money. It happened last time and for the next 11 weeks it will happen again. ALMOST makes me sad my husband is working this time. We got a lot done and had extra money to do it with. I hope these businesses can hold onto their employees and it doesn’t turn into a loan for them.

Harmonium1923 · 51-55, M

@Keepitsimple You are right that it’s not a perfect system, by a long shot. I was taking more of a “microeconomic” perspective based on the needs of friends, family, and coworkers.

Keepitsimple · 56-60, F

@Harmonium1923 Don't get me wrong. I know there are people that are having a hard time right now for real but I think this enables many people to take advantage of the system.