Was just watching the local Fox 59 news channel. They ran a story about local music venues experiencing significant financial troubles due to public policy shutting down almost all of their locations. A local booking agent was expressing his dismay about the lack of revenue over the last four months. He stated he felt the only thing that could save the industry now is for federal dollars to be appropriated, essentially as a gift with no repayment requirement.
I suppose some would argue the government has bailed out private industry before. I recall federal funds granted to the auto industry in the past. There were strings attached,however, not the least of which was the requirement of repayment. I’m sure there are a lot industries that have suffered greviously during the “pandemic driven recession.” And I’m sure most of those would like to receive loans with a no repayment requirement. I feel it’s a slippery slope to use federal dollars to bolster private industry. ( please don‘t use the tax credit/deferment/subsidy analogy argument ) I’m speaking of direct funding - although on second thought I’m not sure there’s a difference.
I suppose some would argue the government has bailed out private industry before. I recall federal funds granted to the auto industry in the past. There were strings attached,however, not the least of which was the requirement of repayment. I’m sure there are a lot industries that have suffered greviously during the “pandemic driven recession.” And I’m sure most of those would like to receive loans with a no repayment requirement. I feel it’s a slippery slope to use federal dollars to bolster private industry. ( please don‘t use the tax credit/deferment/subsidy analogy argument ) I’m speaking of direct funding - although on second thought I’m not sure there’s a difference.
