{"id":466,"date":"2020-12-21T12:55:06","date_gmt":"2020-12-21T12:55:06","guid":{"rendered":"https:\/\/www.thewisdomofcharlieandwarren.com\/?p=466"},"modified":"2020-12-21T12:57:58","modified_gmt":"2020-12-21T12:57:58","slug":"warren-buffett-small-businesses-have-become-collateral-damage-during-covid-19-pandemic","status":"publish","type":"post","link":"https:\/\/www.thewisdomofcharlieandwarren.com\/466\/warren-buffett-small-businesses-have-become-collateral-damage-during-covid-19-pandemic\/","title":{"rendered":"Warren Buffett: Small businesses have become collateral damage during Covid-19 pandemic"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/_YX-9nR4nSE\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><a class=\"yt-simple-endpoint style-scope yt-formatted-string\" spellcheck=\"false\" href=\"https:\/\/www.youtube.com\/hashtag\/cnbc\" dir=\"auto\">#CNBC<\/a><span dir=\"auto\" class=\"style-scope yt-formatted-string\"><span>\u00a0<\/span><\/span><a class=\"yt-simple-endpoint style-scope yt-formatted-string\" spellcheck=\"false\" href=\"https:\/\/www.youtube.com\/hashtag\/cnbctv\" dir=\"auto\">#CNBCTV<\/a><\/p>\n<p>&nbsp;<\/p>\n<p><span dir=\"auto\" class=\"style-scope yt-formatted-string\">&#8220;It&#8217;s so important that small businesses, which have become collateral damage in a war that our country needed to fight, but we, in effect, voluntarily had an induced shut down of parts of the economy, and it hit many types of small businesses very, very hard,&#8221; Berkshire Hathaway&#8217;s Warren Buffett told CNBC&#8217;s &#8220;Squawk Box&#8221; on Tuesday. &#8220;We made some provision for that in March in terms of the CARES Act, but then nobody really knew how long this self-inflicted recession would last with this particular effect on small businesses, so we need another injection to complete the job.&#8221; For access to live and exclusive video from CNBC subscribe to CNBC PRO: <\/span><a class=\"yt-simple-endpoint style-scope yt-formatted-string\" spellcheck=\"false\" href=\"https:\/\/www.youtube.com\/redirect?event=video_description&amp;v=_YX-9nR4nSE&amp;redir_token=QUFFLUhqbkVvbDBpMnRINVBheDQtN0hCQVVJSzRWaEoyUXxBQ3Jtc0ttMEhLdkNnMnZKTk8zRnBwX29uLVZJUDhHNWdZVlhyUnFFU3NjVWhOaWV1MGJqMkpNMERGWFFaM09oa012NHZFZjlpcEtoUjU4S1NTcWZoazZmU3VEbm5EMDRKaFpyQzVURnhyUTdQekRHc0JRYVNGVQ%3D%3D&amp;q=https%3A%2F%2Fcnb.cx%2F2NGeIvi\" rel=\"nofollow noopener\" target=\"_blank\" dir=\"auto\">https:\/\/cnb.cx\/2NGeIvi<\/a><span dir=\"auto\" class=\"style-scope yt-formatted-string\"> Berkshire Hathaway Chairman Warren Buffett urged Congress on Tuesday to extend aid to small businesses as they continue to struggle through economic shutdowns used to fight the coronavirus pandemic. \u201cIt\u2019s an economic war,\u201d Buffett told CNBC\u2019s Becky Quick on \u201cSquawk Box\u201d in a telephone interview, speaking alongside Goldman Sachs CEO David Solomon about helping small businesses. Specifically, Buffett asked lawmakers to extend the Paycheck Protection Program. \u201cI think the country owes it to the millions of small-business people \u2026 just renew the PPP and get us to the end of the tunnel,\u201d Buffett said. \u201cWhen we went into World War II, a lot of industries were shut down; everything went to the defense production. Well, we\u2019ve shut down a lot of people in this particular induced recession and others are prospering, and I think the country owes it to the really millions of small businesspeople.\u201d The window to apply for PPP loans expired earlier this year even with funds remaining in the program. However, Congress has been in a stalemate for months in its negotiations for new government aid, putting pressure on businesses, particularly the smaller ones. Late on Monday, a bipartisan group of lawmakers presented a $908 billion fiscal stimulus package. The proposal includes about $300 billion to support small businesses, including restaurants and entertainment venues. Small businesses, especially restaurants, have struggled to stay afloat during the pandemic as social distancing restrictions force them to limit capacity. Some businesses have been forced to shut down temporarily \u2014 and permanently, in some cases \u2014 because of these limitations and a lack of stimulus. Without additional aid for small businesses, Congress is \u201cin the process of dashing the dreams of tens of thousands,\u201d Buffett said. \u201cCongress should act.\u201d \u201cIt would be so foolish to not follow through on this and enable those people to get back to where they could do the kind of business they were doing before,\u201d Buffett added. \u00bb Subscribe to CNBC TV: <\/span><a class=\"yt-simple-endpoint style-scope yt-formatted-string\" spellcheck=\"false\" href=\"https:\/\/www.youtube.com\/redirect?event=video_description&amp;v=_YX-9nR4nSE&amp;redir_token=QUFFLUhqa29HMVJnejlfWnNLcDRyRmEtVUs0a040WFlJd3xBQ3Jtc0tsRGVvSHlzUHNsaWphY21xUjhEcGtqYXZuTHZ0VlJrb0h5UXFjT2llM29nZDFEMW1NYVVtY2VfeEo1ZlUzSUo5RkVFdlQwNnlBSHVfaFRsODFDbXhfWkViTWE4QnM1emp1VlVPZWxvTnRhVDRNV2tmSQ%3D%3D&amp;q=https%3A%2F%2Fcnb.cx%2FSubscribeCNBCtelevision\" rel=\"nofollow noopener\" target=\"_blank\" dir=\"auto\">https:\/\/cnb.cx\/SubscribeCNBCtelevision<\/a><span dir=\"auto\" class=\"style-scope yt-formatted-string\"> \u00bb Subscribe to CNBC: <\/span><a class=\"yt-simple-endpoint style-scope yt-formatted-string\" spellcheck=\"false\" href=\"https:\/\/www.youtube.com\/redirect?event=video_description&amp;v=_YX-9nR4nSE&amp;redir_token=QUFFLUhqa2RoZTBDb0RvVG1ZMG83MWRPdHpuSFp3bUxwUXxBQ3Jtc0tsb2Zic1AwRTg0S2VDLVdva0YxTERKbjZOTGx3QTZLdzlMMHpZMnVETktyV0g0U1pPcTA4bENTSW5WWDBkUnM3RVV2N2JBS0JfM3BTUWc0bjdIZDdza1pPaUk5cThxUXNnRG14cER3ejFJeWVSZjlldw%3D%3D&amp;q=https%3A%2F%2Fcnb.cx%2FSubscribeCNBC\" rel=\"nofollow noopener\" target=\"_blank\" dir=\"auto\">https:\/\/cnb.cx\/SubscribeCNBC<\/a><span dir=\"auto\" class=\"style-scope yt-formatted-string\"> \u00bb Subscribe to CNBC Classic: <\/span><a class=\"yt-simple-endpoint style-scope yt-formatted-string\" spellcheck=\"false\" href=\"https:\/\/www.youtube.com\/redirect?event=video_description&amp;v=_YX-9nR4nSE&amp;redir_token=QUFFLUhqa2RTOHBwNGJHX0s3WlZzalcyZlZCQlF6Ym0xd3xBQ3Jtc0trR2VvQUVEa1RiUVd5OFoyZ01ZbzRBVzBFRWY1bnhjQ2ZIdUlyRmNTM0x6TU9BangzNEM3aFdZX2dMOE5fSHlQWmtpbXlZNjltVU9TaXBGVlR3VTZILUZzQzFBM0JVdXFXbXVOcVp5LXk5WExiUThIdw%3D%3D&amp;q=https%3A%2F%2Fcnb.cx%2FSubscribeCNBCclassic\" rel=\"nofollow noopener\" target=\"_blank\" dir=\"auto\">https:\/\/cnb.cx\/SubscribeCNBCclassic<\/a><span dir=\"auto\" class=\"style-scope yt-formatted-string\"> Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The News with Shepard Smith is CNBC\u2019s daily news podcast providing deep, non-partisan coverage and perspective on the day\u2019s most important stories. Available to listen by 8:30pm ET \/ 5:30pm PT daily beginning September 30: <\/span><a class=\"yt-simple-endpoint style-scope yt-formatted-string\" spellcheck=\"false\" href=\"https:\/\/www.youtube.com\/redirect?event=video_description&amp;v=_YX-9nR4nSE&amp;redir_token=QUFFLUhqa1plX3pFam5KY1dVUjlOUGF4ZjFJY1hvZ09Ud3xBQ3Jtc0tuUlQ4Zk01S0pUamVuVzZ5RGRZUnR4bk11WmhDT3U4SzJsWHlYb2dsRUx0c0g0ZHFra0JweHdGLXVxMV9LQTZ1WEoxcmNXeHBTbnhmMTA4aUw2bXliLTRNN1djSE1JOVJsY1Q5UnpqY3lETEY0REl6dw%3D%3D&amp;q=https%3A%2F%2Fwww.cnbc.com%2F2020%2F09%2F29%2Fthe-news-with-shepard-smith-podcast.html%3F__source%3Dyoutube%257Cshepsmith%257Cpodcast\" rel=\"nofollow noopener\" target=\"_blank\" dir=\"auto\">https:\/\/www.cnbc.com\/2020\/09\/29\/the-n&#8230;<\/a><span dir=\"auto\" class=\"style-scope yt-formatted-string\"> Connect with CNBC News Online Get the latest news: <\/span><a class=\"yt-simple-endpoint style-scope yt-formatted-string\" spellcheck=\"false\" href=\"https:\/\/www.youtube.com\/redirect?event=video_description&amp;v=_YX-9nR4nSE&amp;redir_token=QUFFLUhqbHB2WDROYlV4aXdscHRCdTg4VG5WR3BXSVZxQXxBQ3Jtc0trbXJDNjRWOTRDZTVYSm9HVHF3S2NEQWkwUWswYzd1QzhNdExWZm85dlRWUVc1cXV4V0xFSGxyaUFzZEpuQjNnMXRKa1N5WXFmYWN0ZU9rd3NmMVpjM21kaHZNazB3UUFxNXhyOFRRR2xKMzVuNmtGUQ%3D%3D&amp;q=http%3A%2F%2Fwww.cnbc.com%2F\" rel=\"nofollow noopener\" target=\"_blank\" dir=\"auto\">http:\/\/www.cnbc.com\/<\/a><span dir=\"auto\" class=\"style-scope yt-formatted-string\"> Follow CNBC on LinkedIn: <\/span><a class=\"yt-simple-endpoint style-scope yt-formatted-string\" spellcheck=\"false\" href=\"https:\/\/www.youtube.com\/redirect?event=video_description&amp;v=_YX-9nR4nSE&amp;redir_token=QUFFLUhqa2JMYlpZUXUwaEFrdzFzQ0dQQjNZbGhZRHRsZ3xBQ3Jtc0trcEpEWlhMYS1iNmVfbTlJZmVmMW9UcEsyZjJCdUF5V3ZVcnR4ckYtbWhINXF5NnlQdHF0ZkYzTFlTc09aTllRYWhkT25hemw1LUJsTVM4eWtkTjZrVElyUUMwdkVHb2lLMzdGSDM3WER1Ti0tckp6WQ%3D%3D&amp;q=https%3A%2F%2Fcnb.cx%2FLinkedInCNBC\" rel=\"nofollow noopener\" target=\"_blank\" dir=\"auto\">https:\/\/cnb.cx\/LinkedInCNBC<\/a><span dir=\"auto\" class=\"style-scope yt-formatted-string\"> Follow CNBC News on Facebook: <\/span><a class=\"yt-simple-endpoint style-scope yt-formatted-string\" spellcheck=\"false\" href=\"https:\/\/www.youtube.com\/redirect?event=video_description&amp;v=_YX-9nR4nSE&amp;redir_token=QUFFLUhqbkk1TTg4WW9SYndQam1YN0EwU1pvMWFfNWxlQXxBQ3Jtc0tuRlJKcTNvTGdNU0dkR2h5bUxZcGNwUnJ4MTQySGZ5djZTd0VicDhadkpxSUoycDI5WWdUcVREOThTVmYycjEtajItai0xamd3TEozTVRIdmxZU2NaODNiOHcxVzk1aVBMRy01d08xZmhXUTRlQVlkNA%3D%3D&amp;q=https%3A%2F%2Fcnb.cx%2FLikeCNBC\" rel=\"nofollow noopener\" target=\"_blank\" dir=\"auto\">https:\/\/cnb.cx\/LikeCNBC<\/a><span dir=\"auto\" class=\"style-scope yt-formatted-string\"> Follow CNBC News on Twitter: <\/span><a class=\"yt-simple-endpoint style-scope yt-formatted-string\" spellcheck=\"false\" href=\"https:\/\/www.youtube.com\/redirect?event=video_description&amp;v=_YX-9nR4nSE&amp;redir_token=QUFFLUhqbkdTbXVIeUlodWY2MG5wOTB2RGpmMlBGd3g0UXxBQ3Jtc0tseWo1ZmpaWjRkQnpackM4VjFZTTQ0UjB0bVVaTjhJZXlEWUVMSzhtZFZUVG1LcUQ2cWplUWsyRHppa291R2ZENy1fTy1Qd3Bvdmd0NkF0dGJtQklfWGpsSFNFdVlkbVVjUXNHZ2NYQzdSVjJSWGFobw%3D%3D&amp;q=https%3A%2F%2Fcnb.cx%2FFollowCNBC\" rel=\"nofollow noopener\" target=\"_blank\" dir=\"auto\">https:\/\/cnb.cx\/FollowCNBC<\/a><span dir=\"auto\" class=\"style-scope yt-formatted-string\"> Follow CNBC News on Instagram: <\/span><a class=\"yt-simple-endpoint style-scope yt-formatted-string\" spellcheck=\"false\" href=\"https:\/\/www.youtube.com\/redirect?event=video_description&amp;v=_YX-9nR4nSE&amp;redir_token=QUFFLUhqbnJZOTJPaUlXc05ra0RvWllLVjNualFNLTRQZ3xBQ3Jtc0ttWTZackZiQ25qU1U3VVhIeHQ4ZmsxUmFsdWQ1U3VHSXZpNlpIdFhpbzIxRUdxVTlFbk1fdHl3eE52eXNKOGRiWWx1TzhSM1R5eWFOWHdleVFqaG03UlpkMk5LRHVIWUZOUExDa1A2R2xBeldkT1VmSQ%3D%3D&amp;q=https%3A%2F%2Fcnb.cx%2FInstagramCNBC\" rel=\"nofollow noopener\" target=\"_blank\" dir=\"auto\">https:\/\/cnb.cx\/InstagramCNBC<\/a><\/p>\n<p>&nbsp;<\/p>\n<p><a class=\"yt-simple-endpoint style-scope yt-formatted-string\" spellcheck=\"false\" href=\"https:\/\/www.youtube.com\/hashtag\/cnbc\" dir=\"auto\">#CNBC<\/a><span dir=\"auto\" class=\"style-scope yt-formatted-string\"> <\/span><a class=\"yt-simple-endpoint style-scope yt-formatted-string\" spellcheck=\"false\" href=\"https:\/\/www.youtube.com\/hashtag\/cnbctv\" dir=\"auto\">#CNBCTV<\/a><\/p>\n ","protected":false},"excerpt":{"rendered":"<p>#CNBC\u00a0#CNBCTV &nbsp; &#8220;It&#8217;s so important that small businesses, which have become collateral damage in a war that our country needed to fight, but we, in effect, voluntarily had an induced shut down of parts of the economy, and it hit many types of small businesses very, very hard,&#8221; Berkshire Hathaway&#8217;s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":469,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_newsletter_tier_id":0,"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[21,45,28,58,41,57,48,2,13],"tags":[113,114],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.thewisdomofcharlieandwarren.com\/wp-content\/uploads\/2020\/12\/WarrenBuffett-2020-small-business-destruction.jpg?fit=1467%2C714&ssl=1","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.thewisdomofcharlieandwarren.com\/wp-json\/wp\/v2\/posts\/466"}],"collection":[{"href":"https:\/\/www.thewisdomofcharlieandwarren.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thewisdomofcharlieandwarren.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thewisdomofcharlieandwarren.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thewisdomofcharlieandwarren.com\/wp-json\/wp\/v2\/comments?post=466"}],"version-history":[{"count":0,"href":"https:\/\/www.thewisdomofcharlieandwarren.com\/wp-json\/wp\/v2\/posts\/466\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thewisdomofcharlieandwarren.com\/wp-json\/wp\/v2\/media\/469"}],"wp:attachment":[{"href":"https:\/\/www.thewisdomofcharlieandwarren.com\/wp-json\/wp\/v2\/media?parent=466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thewisdomofcharlieandwarren.com\/wp-json\/wp\/v2\/categories?post=466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thewisdomofcharlieandwarren.com\/wp-json\/wp\/v2\/tags?post=466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}