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” s be clear like none of us are happy about a shutdown right we re re all everyone s dealing with it in their in their own ways and of there s going to be a deep you know deep economic consequences for the shutdown to me the message it really has to be you know to focus on health first and the focus on not overwhelming our health care systems and that s really the goal here it s you know everybody wants to open as quickly as possible. I think the problem for the present. But is frustration and seeing that you know the economy is going to go through this really difficult period during his the last year of his presidency in the first term of his presidency. That s got to be frustrating at the same time you know you don t want to see scenes of you know you know people in hospital beds in in school.
You know school gyms and convention centers. And he can t just turn the economy back on it s not the way this this works. We have governors and mayors and businesses themselves and sports leagues. Who have all made these decisions to keep you know their employees and their fans and their customers and their community safe.
So this isn t going to be an easy thing to do to reopen. It s certainly not easy to turn off it s not easy to turn back on ami amon tony brought up a number of different industry groups and businesses. So if we can go back to where we are with lawmakers and potentially these two versions of the bill between polo season in the bill that has failed sort of several times. I mean what what are the key measures in there to put in some backstops for the american public.
That is nervous about what s going to happen to their job security and so forth well look in the senate bill. I think the key is this small business provision right. I mean it s authorized at 300 billion dollars. Just as one piece of the senate bill.
But what it would do is give loans. Small business loans to companies under five hundred employees and those companies would have those loans entirely forgiven after just four months. If they didn t lay anybody off so. The idea.
There is it s free money for small businesses that make a small business administration application they get the money directly from their bank that they re used to dealing with and they as long as they don t lay anybody off. They don t have to pay back the loan that s gonna be huge for a lot of businesses. I think it s got an enormous impact. But to tony s point i mean talk about the president s authority here remember what triggered all this in the beginning.
The first real domino here was the nba. The national basketball association saying it s going to suspend its season. That wasn t a presidential directive and i don t think the nba is necessarily going to be looking to the president on monday to say whether or not they can go forward with their with their season or not that will be one data point. They ll they ll get some guidance from the white house.
But they re going to talk to their own health professionals look at their own business model look at their own legal liability. Also and then decide whether they can go forward or not so i agree with tony. The president doesn t just have a magic switch in the oval office that can turn the country back on once you shut this down. It s going to be very difficult and very complicated to turn it back on and you re going to have all kinds of competing interests and factors.
And doing that that s a good point. We re all sort of taking directions from different factions. Whether it s government leaders federal or state local or the businesses that many of us work for you know tony as i m as i m thinking about the different businesses. Small business certainly is a big one another one that is sort of near and dear to my heart is retail.
It is large the largest private employer in the country you ve got stores closed unless you re in a central location like a grocery store or a pharmacy location this could be real trouble for the nation s retailers. Do you think that the president the administration needs to look a little bit more carefully here. Because of frankly even just the number of people that the retail industry employs. Yeah.
I think it s i think it s the hardest. One and it s gonna be it is gonna be the more difficult one to get back into business and all this so you know we know they re very big retailers. You know the that are gonna have access to to some of the funding facilities. They re gonna be able to do are going to be able to get back to it a little bit better and to get bridge through this period.
A little bit better the small retailers that that eamon talked about that s it this is a historic effort in this plan. This has never been done before so it s going to be you know big to try to get money to all of these reach smaller retailers to get through this to get through this period. A bridge to the other side and you know hopefully they ll be able to do it because you re right these are these are you know vast majority of jobs in the country in a place. Where i am right now out out in the mountains of western pennsylvania.
That s most of the business. Out here is really retail. So we want to see these people get back to work and get back to their lives. And every little bit of this is is going to count whether it s payments and individuals.
Some of the unemployment insurance direct loans to small businesses and the big fed that they know corporate paper facilities. All across this whole this whole stream and but it has to happen fast because you know these the people who work in retailers. You know courtney you ve interviewed these people you know they these are good jobs. But they re not the kind of jobs where you build up a lot of savings and they cannot go through long periods of time of unemployment.
It s very very hard for them and they re very worried right now you you ” ..
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