Wasted 30 billion????

[Guest]

From what I remember,

Borrow $60k and if you repay it within 2 years you only have to pay back $40k.

The remaining $20k is forgiven but is taxable.

Didn't take it because I don't need an audit and the less I'm involved with anything to do the government or the CRA the better, I sleep. Dropped out of AgriStability and Agrivest in 2012.

Those that participated in any of the Covid free government money no matter which program and committed fraud to get it, the CRA should go after them with both barrels. Those the qualified leave them alone.

No forgiveness as the debt is unreal.

actually , there were only 3 questions on the original $40 k loan, done through your bank , on line. there most definitely was no question asked about hardship or anything of the like ? i forget the questions , but it was basically nothing . those that took it said 3 days it was in your account . now maybe you are referring to the $20k add on because accountants everywhere said to steer clear of it because on that one govt was demanding you sign for hardship and basically you were facing financial hardship
many large farms took wage and rent subsidies here, and that has helped raise cash rent

[AlbertaFarmer5]

We can rightfully criticize the government for the haphazard method of distributing the funds, and lack of oversight. But that overlooks the purpose of the program. This literally was the helicopter money which Bernanke used to talk about. The point was to get money into the hands of consumers and businesses as fast as possible to stop the downward spiral of the economy. And it worked, and we are reaping the outcome now with inflation and a lazy(er) entitled(er) workforce.

We can argue if letting the economic cycle take its natural course would have been better in the long run. We can argue that many of these businesses weren't viable to start with and this was just throwing good money after bad into a black hole. That just like every other government intervention, this caused massive unnatural distortions in supply and demand creating huge shortages and even more inflation. But, perhaps the alternative was having the entire economy grind to a halt, and how do you restart all the vital businesses when they are bankrupt, and staff is laid off, and the supply chains are completely severed?

The short and medium term outcomes could have been much worse. The long term is debatable.

[Robertbarlage]