NEWS, SPORTS, COMMENTARY, POLITICS for Gloucester City and the Surrounding Areas of South Jersey and Philadelphia

Eileen Cafagna, age 81, of Audubon
George W. Walker age 76, of Runnemede

The Story Behind The Story: COVID Giveaways


Dorothy Philbin | CNBNews Columnist


Did you know the original purpose of the Secret Service Agency was to protect our money supply?  The agency was started by Abraham Lincoln who apparently never thought a well-trained and well-armed security force to protect the President was a necessity. Images-3

Move forward 157 years and most people think the Secret Service Agency's purpose as only protecting the government officials.  But the "Feds" are very much still in the money business.  CBS News ran an article on Friday, August 26, 2022, interviewing the agent-in-charge of getting back the COVID small-business funds sent to "idle" or fake businesses.
I was happy with what I got from the legitimate COVID stimulus money, veryhappy.  But not everyone was.  They filed for "idle" businesses.  Back between 1985 and 1995 I owned a small bus company.  Today, it is still listed with the NJ Secretary of State, but I haven't been in business since 1995. Many people who had small businesses used the former business EIN (Employee Identification Numbers) to get excess COVID money.  Well, now the Secret Service agents want to talk with them.
The numbers are big.  The Secret Service agency is going after 15,300 idle or fictious businesses.  The total amount of money involved is $286 million.  That amounts to $18,693 per small business.  However, if the taxpayers have to pay back this money it only comes to $2 for each of us.  It's almost a bargain for someone else to get more than $19,000 we'll never see.