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It seems to me that most of it (or at least a very large amount) was/is being spent.
I’m not talking about $2k checks that were mailed out.
Example: I know several people who have small business (5-10 employees) who got huge (now forgiven) PPP checks. In the $400-800k range. And the kicker is they were in businesses that didn’t need it, they had no decrease and likely an increase in revenue during Covid.
Someone gave me a link to a Govt site where you can look up the companies and amounts given, and I could see their names and amounts.
Which was shocking enough, but what was more shocking was the size of the list. As I recall it was thousands of pages long, with countless PPP loans of $10 million or more to companies you’ve never heard of.
Anyways, I saw how the money was spent by the people I know who received it. Lots of home improvements, construction, Pelotons, cars, jewelry and watches, etc.
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