The Effects of the Stimulus Package
All said, the stimulus package will be a good thing and we have seen a recent rally in the stock market. However, what people need to realize is that as long as the stock market is on lock down mode, we can throw as much money at it as we want but it’s still going to be bad for GDP. Additionally, 3.283 million people filed for unemployment last week. Does the Department of Labor have the manpower to get all these people processed in a timely manner? How can the SBA get $350 billion out the door in time to save people’s jobs when 30 million+ businesses qualify for the payroll protection plan? Ultimately it will be ok, but what is realistic when it comes to the timeline and impact of the US economy?
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