Today, the Senate approved the next round of coronavirus stimulus (bailouts) for more SBA loan $$ and $$ to hospitals and $$ for testing.
Senate approves $483B virus aid deal, sends it to House https://finance.yahoo.com/news/virus-…
Senate approves $484B relief package for small business, hospitals, testing https://www.yahoo.com/gma/schumer-say…
However, US state and local (municipal) governments are collapsing as no economic activity means no cash flows in the economy. And cash flows are what allow government tax revenues to come in (other than for property taxes).
Cash flows are the gasoline that powers the engine of the real economy. And there’s an enormous cash flow problem now in the US.
This means that states and local governments will have to be bailed out soon too:
U.S. senators propose $500 billion rescue for state, local governments https://www.reuters.com/article/us-he…
AP: Publicly traded firms get $300M in small-business loans https://finance.yahoo.com/news/ap-pub…
‘The Big Guys Get Bailed Out’: Restaurants Vie for Relief Funds https://news.yahoo.com/big-guys-baile…
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