The US Senate has passed another bill in hopes of salvaging America’s small businesses, to the tune of nearly $500B and some Democrats say there will be more on the way. Meantime we are waiting on the House to approve the bill, that vote is expected tomorrow.
I get it, desperate measures for desperate times and all, but there is no way Uncle Sam can spend our way out of this mess. The only way to get the economy back on track is to…well…get the economy back on track and we are seeing the first signs of that.
Meanwhile those $1200 stimulus checks that many people haven’t gotten yet? Well there are signs that that’s not enough either and that should come as no surprise.
According to a Wallet Hub survey 60 million Americans are less than three months away from going completely broke. What's more a staggering 29% are less than one month away from running out of money.
No amount of money whether it be PPP or personal stimulus checks can save this economy. Only reopening it (carefully) can do that.