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| Economy |
| Hundreds of millions in PPP loans went to CCP-backed firms, as U.S. small businesses went under |
| 2021-05-02 |
| [Just The News] The Golden Horseshoe is a weekly designation from Just the News intended to highlight egregious examples of wasteful taxpayer spending by the government. The award is named for the horseshoe-shaped toilet seats for military airplanes that cost the Pentagon a whopping $640 each back in the 1980s. This week, our award is going to the United States Small Business Administration and Treasury Department for awarding at least $200 million, but as much as $420 million, to Chinese Communist Party-linked businesses by way of the Paycheck Protection Program, intended to assist U.S. small businesses that were devastated by the coronavirus pandemic, widely believed to have originated in China. A report from the Horizon Advisory strategic consulting group illustrates how negligible congressional oversight allowed at least 125 Chinese firms to "take advantage of the international disaster" by benefitting "directly from U.S. investment and relief measures." Related: Paycheck Protection Program: 2021-03-28 Nearly 500 charged with pandemic-related fraud: DOJ Paycheck Protection Program: 2021-02-23 Why you shouldn't care if the next COVID stimulus doesn't happen Paycheck Protection Program: 2020-12-23 Rand Paul delivers blistering floor speech opposing ‘monster' COVID spending bill, says GOP ‘no better' than Dems |
| Posted by:Besoeker |
| #4 That's peanuts compared to what the Democrat controlled states managed to "lose" in their frenzy to give away money. California admits up to $31B in unemployment may have gone to fraudsters and foreign criminal rings "Of the $114 billion in unemployment paid by California since March, approximately 10% has been confirmed as fraudulent. An additional 17% of the paid claims have been identified as potentially fraudulent,” Secretary for the California Labor and Workforce Development Agency Julie Su said in a California Employment Development Department conference call. |
| Posted by: Sneart Thromonter8301 2021-05-02 17:10 |
| #3 |
| Posted by: Sluse Grealet9429 2021-05-02 11:18 |
| #2 Small American businesses haven't quite mastered the idea of kickbacks? |
| Posted by: g(r)omgoru 2021-05-02 11:12 |
| #1 ...the horseshoe-shaped toilet seats for military airplanes that cost the Pentagon a whopping $640 each back in the 1980s. Cause they have to follow the contracting laws and regulation that Congress implements. You just can't go to a local Walmart or Home Depot and drop Uncle Sugar's money even if its cheaper. Congress gets to sound high and mighty, beating their chests about such waste, but they write it into the law. |
| Posted by: Procopius2k 2021-05-02 10:17 |