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Sounds good in theory. And if Trump was a dictator, I'd agree. But he still needs to work with Congress to get a lot of this done, so I'm not sure what will happen. I am not holding my breath for an extension of the beefed up unemployment benefits beyond a month or two, which I think will be worked out when they pass a bill providing for another one-time payment to individuals.
Agree that a lot of work has to happen. I'd just be very surprised if they don't ultimately come to an agreement before the end of the month. The relief funding is really a bipartisan issue. It's the small details that pull the left and right from one end of the spectrum to the other.
Hawaii can already borrow up to about $4 Billion from the Feds - it has to be paid back in 24 months. It comes down to, how does Hawaii pay it back? It is paid back in installments, not a lump sum
Hawaii can already borrow up to about $4 Billion from the Feds - it has to be paid back in 24 months. It comes down to, how does Hawaii pay it back? It is paid back in installments, not a lump sum
Similar to most of the PPP "loan" proceeds... it won't be paid back.
Similar to most of the PPP "loan" proceeds... it won't be paid back.
It'll get paid back unless Congress forgives it (not just Hawaii - all the other states also) - the Feds simply require the employers to pay more in unemployment taxes once a state goes into default..
Extending payouts on CARES and other bailout programs will result in 'printing money', by Fall 2020, USA will start to see the rapid devaluation of the dollar.....
Similar to most of the PPP "loan" proceeds... it won't be paid back.
PPP was designed as a handout. This isn't. The reason why ige is balking at using the funds is precisely because it'll have to be paid back. It was designed as short term funding, not a long term mortgage. Not the best analogy, but it would be like using credit cards that you can't afford to pay off. It'll help now, but longer term, you'll be way worse off.
I’ll be watching closely also for what happens when the CARES Act unemployment benefits run out in a few weeks.
End of August puts the State at 5 months of shutdown.
CARES act is one aspect - the PPP money will run its course soon, it is clear, at least to me - many Waikiki/Ala Moana businesses are open solely due to PPP as I suspect many of them don't get a single customer many days.
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