Category Archives: Business

SBA opens Restaurant Revitalization Fund

SBA Administrator Isabella Casillas Guzman today announced the U.S. Small Business Administration will begin registrations on Friday, April 30, 2021, at 9 a.m. EDT and open applications on Monday, May 3, 2021, at noon EDT for the $28.6 Billion Restaurant Revitalization Fund. The online application will remain open to any eligible establishment until all funds are exhausted.

“Restaurants are the core of our neighborhoods and propel economic activity on main streets across the nation. They are among the businesses that have been hardest hit and need support to survive this pandemic. We want restaurants to know that help is here,” said Administrator Guzman. “The SBA has focused on the marketplace realities of our food and beverage businesses in designing the Restaurant Revitalization Fund to meet businesses where they are. And we are committed to equity to ensure our smaller and under-served businesses, which have suffered the most, can access this critical relief, recover, and grow more resilient.”

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Political Economy vs. Federal Fairy Tales

“Build Back Better” is the motto for President Biden’s ambitious plans to remake much of the American economy and society. On Wednesday in Pittsburgh, Biden will reveal his plans for trillions of dollars of new spending for infrastructure and other projects. His devotees in the national media will whoop up his proposals as the greatest thing since the New Deal, or at least since Biden’s American Rescue Plan Act a couple weeks ago.

Once Biden fires the starting gun, a deluge of experts will descend upon cable news shows to tout the vast benefits of the proposed “investment.” There will be a barrage of econometric formulas that irrefutably prove, via 10 or 15 shaky or squirrely assumptions, that vastly increasing federal spending will multiply prosperity across the land.  

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Lessons of the China-India Blackout War

Analysis: The future usually arrives before anyone is ready for it, especially in warfare.

China apparently blacked-out Mumbai, India, by cyber-attack — credibly threatening that Beijing could plunge all India into darkness through cyber warfare. Experts warn national electric grids are a technological Achilles heel.

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Federal control of State finances?

OK Attorney General Mike Hunter

Attorney General Mike Hunter Tuesday sent a letter to Treasury Secretary Janet Yellen asking her to clarify whether the last-minute provision added to the latest coronavirus stimulus package strips state legislatures of their authority to provide further economic relief to their citizens by reducing state tax rates, or risk paying back federal aid.

The letter, signed by 21 attorneys general, says if the intent was to deny states the ability to cut taxes in any manner whatsoever, the act would likely constitute the greatest attempted invasion of state sovereignty by Congress in the history of the Republic.

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