December 2. 2020

Donald Trump and Joe Biden

A new report indicates that half of the money earmarked for the coronavirus emergency fund for small businesses overwhelmingly went to large corporations. Only a paltry 5% of small businesses received the stimulus funds. This explains why so many American small and mid-sized businesses permanently shutdown during the Covid-19 pandemic.

The U.S. economy has been completely battered by the pandemic, after having reached record highs in the stock market and employment last year. U.S. president Donald Trump is devastated and stunned at what has happened to the economy after 3-years of unprecedented growth. President-elect Joe Biden has no workable plan to fix the economy. He wants to engage in record spending, opting to throw money at the problem.

STORY SOURCE

More than half of emergency small business funds went to larger businesses, new data show

Dec. 1, 2020 - Updated: Dec. 1, 2020 9:22 p.m. - WASHINGTON - More than half of the money from the Treasury Department's coronavirus emergency fund for small businesses went to just 5% of the recipients, according to data on more than 5 million loans released by the government Tuesday evening in response to a Freedom of Information Act request and lawsuit...

https://www.chron.com

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