The economy is six months into our government created recession. The output of the economy, Gross Domestic Product (GDP), plunged 33%, primarily because consumers were instructed to lock down at home and many businesses were told to close. This general policy was administered by state governments, with variations unique to each state. The goal was to reduce contagion of Covid-19. A logical policy to stem the spread of the virus, but difficult to administer and enforce.
Unfortunately, these policies were also effective at stemming the flow of dollars to our nation’s small businesses not just containing the spread of the virus. Small businesses produce about half of the private sector GDP and employ about half of all private sector workers.