The Federal Paycheck Protection Program is out of money—the first round was that successful—and Progressive-Democrats are once again blocking it from being funded unless they get
hundreds of billions more for hospitals and city and state governments
This is nonsense, but these worthies don’t mind blowing up our nation’s economy if they can’t have their way.
Never mind that the States don’t need more money; any budget gaps they have are the direct result of their conscious spending decisions. They need only to reallocate the monies they’re spending.
To the extent more Federal money really is needed in particular States, those funds should bypass the State governments and go directly to the entities needing the funds—those hospitals, for instance, small businesses—that PPP thing—unemployment insurance facilities, and the like. Along with the stimulus payments directly to taxpayers and pension/SS recipients.
It’s true that State employment facilities are State government facilities, but State governments need not get their hands on the money on the way by; this opportunity could be mitigated by making receipt of the money contingent on the State Government not siphoning other monies already programmed or planned for the employment facility—perhaps even by requiring the State governments to match the Federal disbursements dollar-for-dollar with State spending allocations reallocated. (NB: promises to reallocate future spending should be ignored.)