Slate: The Paycheck Protection Program Was a Flop

Slate, July 24, 2020: The Paycheck Protection Program Was a Flop

Since this spring, the federal government has handed out $517 billion through the Paycheck Protection Program, the main lifeline that Congress threw to small and midsize businesses to help them survive the coronavirus crisis. It’s a weighty amount of money, almost two-thirds of what Washington spent on the entire stimulus package it passed in 2009 to combat the Great Recession.

Unfortunately, it doesn’t seem to have bought us very much.

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