Democrats Refusing Funds for Small Businesses – Is There a Backdoor To Funding?
Democrats refusing to add funds to the program to save small businesses is causing significant problems across the country. The small business loans ran out of money because more “businesses” applied than the ones it was intended to help.. Now many small businesses will end up closing and hundreds of thousands of jobs will be lost. The President is demanding that Nasty Nancy and Crying Chuck come back to work to handle the problem. Is there a legal backdoor to funding the program?
The “small business loan program” (PPP) was meant for SMALL businesses. But mid-sized hedge funds and mid-sized businesses that generate a lot of money have applied and been granted the loans. (Fox Business). Consequently the program ran out of money too soon. How did that happen?
Fox reported what happened when a bank official noticed the applications weren’t coming from actual small businesses:
“The bank was receiving applications not just from those barely solvent mom-and-pop businesses like restaurants, salons and family-run factories shuttered amid the nationwide pandemic shutdown that the legislation was supposed to help.
Flowing into his system were applications from businesses no one would consider small, or even barely solvent: Midsized hedge funds, brokerage businesses, small law firms, all outfits that are making money, much of it through fee income, and many operating remotely almost as if nothing had changed…
…And he said it will lead to a widening class divide when the quarantines are over unless the federal government acts and acts fast. If small businesses don’t have access to the stimulus funds, they will increase layoffs — many of these employees are minorities and all of them working-class Americans — or face bankruptcy, as is happening today.”
If Obama can find billions of dollars for Iran’s terrorist regime, surely there is a way to get needed funds for small businesses hit hard by the Coronavirus.
Douglas Mackinnon, writing for The Hill, reported in January 2020,
What many Americans don’t realize is that the Obama White House took the ransom money from something called the “Judgment Fund,” which is administered by the Treasury. That little-known account is entirely paid for by American taxpayers and was set up in such a way that Obama could bypass congressional approval to pay the cash to Iran.
Those who continually praise and defend Obama often describe him as “brilliant.” There is no doubt the former president is an intelligent person, certainly bright enough to realize — and admit, at least to himself — that the cash he turned over to the murderous regime leading Iran to ruin was not used for altruistic purposes.
Did Obama totally drain that fund? Are there other funds hidden away down in the depths of our government? Perhaps bypassing Pelosi and Schumer at this difficult time is the only way to help America’s small businesses.
Go for it, Mr. President. Find a way. America needs you, and we do NOT need or want Nasty Nancy and Crying Chuck. Let them eat cake.
Featured photo: via Yahoo News