75% of PPP Wasted

In Analysis by Michael Rae

2020’s Paycheck Protection Program (PPP) continues to be an $800 billion example of waste and fraud in government spending that keeps on giving. And giving. However, calling it a “costly mess” or “the biggest fraud in a generation” doesn’t do justice to describe just how bad it is.
It started with good intentions. The PPP program was rushed through the U.S Congress to provide relief for businesses whose operations were shut down by state and local government-mandated lockdowns early in the coronavirus pandemic. The idea was to give them loans to keep paychecks flowing to their idled employees. The loans would

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