The failures and future of the Paycheck Protection Program
On Point with Meghna Chakrabarti
WBUR
4.3 • 3.9K Ratings
🗓️ 10 February 2022
⏱️ 49 minutes
🧾️ Download transcript
Summary
The Paycheck Protection Program was supposed to help workers stay afloat during the pandemic. But new analysis finds most PPP funding went to the richest 20% of Americans. David Autor and Lydia DePillis join Meghna Chakrabarti.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | This episode is brought to you by Slack. With Slack, you can bring all your people and |
| 0:05.8 | tools together in one place. It's your digital HQ where you can increase productivity, |
| 0:11.0 | enable flexibility and automate workflows. Plus, Slack is full of game-changing features |
| 0:16.7 | like huddles for quick check-ins or Slack Connect, which helps you connect with partners |
| 0:20.9 | inside and outside of your company. Slack, where the future works. Get started at |
| 0:26.9 | Slack.com slash DHQ. Spread some joy these holidays with my |
| 0:32.7 | Fuji film. Catcher the million big and little moments and bring your images to life with |
| 0:38.4 | personalized photo gifts and premium prints. From photo books, framed prints and wall art |
| 0:44.7 | to mugs, wrapping paper and greeting cards. There's something for everyone this Christmas. |
| 0:50.2 | Get up to 30% off selected gifts until 20th December. Learn more at myfudifilm.co.uk |
| 0:56.7 | This is on point. I'm Megna Chakrabardi. In March 2020, the COVID pandemic plunged American |
| 1:09.4 | workers and the small businesses that employed them into what seemed to be a bottomless |
| 1:15.0 | abyss. More than 14 million Americans would lose their jobs in the course of weeks as |
| 1:20.9 | lockdowns forced thousands of businesses across the country to pull back or close. So |
| 1:27.8 | Congress stepped in with one of the biggest relief programs ever, the Paycheck Protection |
| 1:33.0 | Program. Much of the CARES Act is still being implemented. But one key program, one key |
| 1:40.2 | program is already up and running. It's the Paycheck Protection Program from Chairman |
| 1:45.4 | Rubio, Chairman Collins, Senator Cardin and Senator Sheaane. It gives small businesses |
| 1:52.3 | emergency capital so that workers can keep getting paychecks instead of pengslips. Just |
| 1:59.1 | a few days after the program opened for business. $100 billion in loans have already been committed. |
| 2:06.3 | That is 30% of the total funding spoken for in just the first few days. I say that's |
| 2:15.1 | very good news. It means this job-saving program is attractive to small business. Employers |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from WBUR, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of WBUR and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.

