By Grand Rapids Anonymous
sunday, october 6, 2024 at 8:35:00 p.m. edt
“(zh) president [sic] Joe Biden urged congress on friday to expedite funding for the small business administration’s (sba) disaster loan program, warning that it will run out of money within weeks amid ongoing recovery efforts in the aftermath of hurricane helene.
“in a letter to congress on oct. 4, Biden warned that the sba’s disaster loan program will run out of funding ‘in a matter of weeks and well before the congress is planning to reconvene.
“‘I warned the congress of this potential shortfall even before hurricane helene landed on America’s shores,’ the president stated, adding that he had requested more funding for sba ‘multiple times’ in the past months.
“‘small businesses and individuals in affected areas depend on disaster loans as a critical lifeline during difficult times,’ he said. ‘the congress must act to restore this funding.
“the president did not specify the amount needed to replenish the disaster loan program.
“the sba offers low-interest loans to businesses, homeowners, and renters affected by declared disasters. its loan program provides affected homeowners with up to $500,000 to repair their primary residence, and up to $2 million for businesses to cover disaster-related losses.
“in his letter, Biden stated that while the federal emergency management agency’s (fema) disaster relief fund has sufficient resources to meet its immediate needs for hurricane helene response efforts, it could face a shortfall by the end of the year.
GRA: Or now. But it’s all fake money, anyway.
--GRA
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1 comment:
We're trillions in the hole with more piling up every day,month,year. Somehow this Ponzi scheme continues until it doesn't.
To look at it logically,the system should have caved in permanently in 2008,BUT Bernanke and Treasury secretary Paulson busted some balls and somehow got everyone to believe that massive debt was now an asset--and off we went into this naive,new world. The rest of the world jumped on board too,because THEIR finances were shot,so everyone decided to print money,ignore debt and not tell the truth about any of it.
Someday...it will cave in and it won't be pretty.
--GRA
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