Study of the PPP loan program

Joao Granja and others write,

we do not find evidence that funds flowed to areas more adversely affected by the economic effects of the pandemic, as measured by declines in hours worked or business shutdowns. If anything, funds flowed to areas less hard hit. . . We do not find evidence that the PPP had a substantial effect on local economic outcomes—including declines in hours worked, business shutdowns, initial unemployment insurance claims, and small business revenues—during the first round of the program. Firms appear to use first round funds to build up savings and meet loan and other commitments, which points to possible medium-run impacts.

1 thought on “Study of the PPP loan program

  1. Oh you think that is bad, I can top that easily.

    Just last week the House Armed Services Committee unanimously voted to withhold funding for removing troops from Afghanistan.

    The reason for blocking an end to war in Afghanistan is readily apparent in the IG reports on Afghanistan aid spending which find that more than half of which never reaches Afghanistan because various contractors and agencies take cuts. The skim is laundered and a portion gets recycled back into campaign contributions. The war is a cash cow for moneyed interests who will do anything to prevent Trump from ending it.

    The infamous names of the 56 members of the HASC approving the bill will be forever scorned and their children and grandchildren will live their lives in shame:

    Liz Cheney, Jason Crow, 
Adam Smith, 
Susan A. Davis
James R. Langevin
Rick Larsen,
Jim Cooper,
Joe Courtney, 
John Garamendi,
Jackie Speier, 
Tulsi Gabbard,
Donald Norcross,
Ruben Gallego
Seth Moulton,
Salud O. Carbajal,
Anthony G. Brown, 
Ro Khanna, 
William R. Keating, 
Filemon Vela,
Andy Kim, 
Kendra S. Horn,
Gilbert Ray Cisneros,
Chrissy Houlahan, 

Xochitl Torres Small,
Elissa Slotkin,
Mikie Sherrill, 
Veronica Escobar, 
Debra A. Haaland, 
Jared F. Golden, 
Lori Trahan, 
Elaine G. Luria, 
Anthony Brindisi, NY
    Mac Thornberry, 
Joe Wilson,
Rob Bishop, UT
Michael R. Turner,
Mike Rogers, 
K. Michael Conaway, 
Doug Lamborn, 
Robert J. Wittman,
Vicky Hartzler, 
Austin Scott, 
Mo Brooks, 
Paul Cook,
Bradley Byrne,
Sam Graves,
Elise M. Stefanik,
Scott DesJarlais, 
Ralph Lee Abraham, 
Trent Kelly, 
Mike Gallagher,
Matt Gaetz, 
Don Bacon,
Jim Banks, 
Paul Mitchell,
Jack Bergman,
Michael Waltz.

    Unforgivable.

    May their eventual grave sites now be declared to be public latrines.

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