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Fed report finds 75% of $800 billion Paycheck Protection Program didn't reach employees

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Taxpayers paid $4 for every $1 in wages and benefits received by workers in jobs saved by the federal government’s pandemic Paycheck Protection Program (PPP), according to a new study by the Federal Reserve Bank of St. Louis.

The Fed study also found PPP didn’t support jobs at risk of disappearing, and money flowed disproportionately to wealthier households.

 

Does this surprise anybody? Business owners whine about minimum wage increasing hamburger prices or whatever, then pocket 75% of the money that was supposed to go to their employees.

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1 hour ago, fan_since79 said:

CBS is already trashing the dead former prime minister, calling him "arch conservative" and a few other epithets.

He was a friend of Trump. So he's the enemy.

I thought he was a liberal:

Shinzo Abe (安倍 晋三, Abe Shinzō, pronounced [abe ɕindzoː]; 21 September 1954 – 8 July 2022) was a Japanese politician who served as prime minister of Japan and President of the Liberal Democratic Party (LDP) from 2006 to 2007 and again from 2012 to 2020. He was the longest-serving prime minister in Japanese history.[1][2] Abe also served as Chief Cabinet Secretary from 2005 to 2006 under Junichiro Koizumi and was briefly leader of the opposition in 2012.

https://en.wikipedia.org/wiki/Shinzo_Abe

However:

Shortly after Donald Trump had won the US presidential election, Abe cut his presence at an Asia-Pacific Economic Cooperation summit in Lima short, in order to have an informal, impromptu meeting with the then President-elect at the Trump Tower.[187] After Trump's inauguration, they had a formal meeting at Mar-a-Lago at which they discussed security in light of a North Korean threat,[188] with Abe stating that Japan would be more committed to Japan–United States relations. They also golfed alongside South African professional golfer Ernie Els.

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