New studies have come out that the quarantines, along with the damage and destruction by rioters, have completely wrecked havoc on America’s minority-owned businesses.
In a June 5th piece, Matt Vespa from Town Hall asked if black small business owners weren’t impacted by quarantine. All experts said yes, but in a newly published study it looks like the government’s response to the crisis actually imposed disproportionate negative impacts on less politically influential minority-owned small businesses. The number of active U.S business owners plummeted by 22% from February to April this year which was the largest drop in business owners on record.
When breaking down racial lines, African-American businesses experienced a 41% drop, Latin business owners dropped by 32%, and Asian business owners dropped by 26%. Immigrant business owners experienced a loss of 36% and female-owned businesses by 25%. The Dems wanting these stimulus packages the most are just handing corporations massive windfall by deeming what is an “essential” business. The government’s response was a clear carve-out of favoritism for politically connected large corporations, while minority-owned small businesses received the most negative impacts.
The government programs passed as COVID-19 relief and stimulus efforts are failing those who need it the most. Black-owned businesses are benefiting less from federal stimulus programs and only 12% of black and hispanic business owners have received the funding they requested. Mind you, the “relief’ money is getting tacked right on to the debt too.
The economic downturn’s $4 trillion impact on the federal government’s budget and $1.3 trillion in interest on the new debt has led to an astounding $8 trillion in new federal debt. And that $4 trillion figure assumes no further spending bills are passed, despite House Democrats having passed an additional $4 trillion bill. These pandemic costs represent additional gasoline into a growing fire.
But of course liberals will ignore this towering debt crisis for the future generations. They will brush their shoulders and choose what is politically beneficial in the short-term while avoiding the future consequences as not their problem.
Are we surprised though? The Democrat party wanted to see this lockdown continue for as long as possible to slow the economy down and hurt the President’s chances of reelection. If we all want to see what a Dem-controlled country looks like, well that’s it. Good thing it’s not Hillary in charge or we’d be in lockdown forever.