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View Full Version : Federal Rescue Should Be in the Form of Loans, Not Bailouts



jimnyc
03-20-2020, 09:37 AM
If you are going to bailout anyone, let it be the mom and pop local stores that really may not be able to afford paying back loans, and this is a death sentence for their business. But they want to give bailout money to the behemoths that make billions per year. I say too give them loans instead, and terms that they can afford to pay back to America and our taxpayers.

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Federal Rescue Should Be in the Form of Loans, Not Bailouts

As the federal government determines how to save important American industries from possible collapse, it is important that we simultaneously protect workers and taxpayers. And above all, whatever Congress does, it should first and foremost follow the Hippocratic Oath and “DO NO HARM.”

This is why Club for Growth has put together a series of policies to consider in combatting the economic fallout of the coronavirus. Taken together, they are bold, free market steps that our elected officials can take to encourage a speedy recovery.

Any financial rescue of industry should be in the form of a government loan, even if the interest is zero, and not as a grant or bailout. And unlike TARP, no business should be required to take a loan.

Additionally, small business mandates should not be used to provide relief. Instead we should use the existing unemployment insurance structure to provide funds to workers, and we should make temporary enhancements to the system such as including salaried workers.

Rather than having to lay off employees to become eligible for this temporary expanded unemployment insurance, workers will become eligible if employers provide up to six weeks leave of absence due to the virus.

Rest - https://www.realclearpolitics.com/articles/2020/03/20/federal_rescue_should_be_in_the_form_of_loans_not_ bailouts_142714.html