Joyce Krawiec is a conservative activist, former North Carolina Republican Party Vice-Chair, and retiring North Carolina Senator. Christian, wife, mother, small business owner, and conservative. She has endorsed Dana Caudill-Jones for North Carolina Senate.
This has been another difficult week as we continue to stay at home and most businesses continue to be closed. I am heartbroken from all the calls and messages that I am receiving from those who are negatively impacted by COVID 19. I am also disturbed by those insulting messages telling me that I want people to die. How ridiculous some people can be?
I am staying home as recommended. I do want to stay safe, but I also do not want anyone to see me because my hair salon is closed. It is ugly.
The Coronavirus has hit us like a lightning bolt. We have lost 5 citizens in Forsyth County to this virus. We have 125 confirmed cases. Those who lost family members are in our thoughts and prayers. It’s also sad that many families were not able to visit or hold the hand of their loved ones in their final hours. Also, during this time, families were not able to hold funeral services and say goodbye. This happened in our family and it is difficult not to be able to gather and comfort each other. These are difficult times and circumstances. We should pray it never happens again.
Twenty-two million Americans are unemployed. That is a devastating statistic. After having tremendous job growth for several years, the bottom has fallen out. I hear the stories from many of these folks and it is heartbreaking. Some small business owners are shuttering their businesses and packing up. They are not able to get through the crisis. That too is sad.
According to a survey by National Federation of Independent Business (NFIB) the Small Business optimism index had its largest drop in history. Small business owners are worried about their future. Ninety two percent (92%) say they have been negatively impacted by COVID 19. Half say they can survive no more than two months.
Most small business owners are not wealthy. According to Payscale Data, the average small business makes $73,000 per year. Total earnings range from $30,000-$182,000 per year. Self-employed individuals at incorporated businesses earn $49,804. Those at unincorporated businesses average $22,424.
According to NFIB, a survey was conducted from their database of 300,000 small businesses. They found that 70% had applied for loans through the Paycheck Protection Plan. This is the federal program designed to help businesses pay employees and other expenses during the crisis. Of the 30% that did not apply, many indicated they were considering it. Nearly half of these businesses had also applied for the Economic Injury Disaster Loan (EIDL). This program is easier and quicker, designed to grant immediate relief while the larger loans are processed.
Funds are scarce for everyone. Thankfully, these federal loans are available to offer some relief. I do understand, the funds have already been depleted and another stimulus plan is in the works. Let’s hope Congress will act quickly and not try to pork up the bill with funding for The Green New Deal, Kennedy Center, National Endowment for the Arts, or new voting policies as happened last time. Hopefully, it will be a clean bill with only funding for Coronavirus relief.
The state budget is going to be trimmed also, a lot. Our revenue forecast picture is not good. In a meeting last week, with our fiscal analyst, the picture was not pretty. While we do not know yet what revenues will be, we know they will not be good. Since filing deadlines were delayed, we do not have actual numbers. If our revenue is just a 10% drop, that is a $2.5 billion gap we must fill. Forecasts are that it will be higher than 10%.
Thankfully, fiscal responsibility has given us revenue in the unemployment fund, after paying off a $2.6 billion debt to the federal government. We have also replenished the Rainy Day Fund. We were devastated the last few years with hurricanes and we have another season coming shortly. We need to be prepared for that as well.
Our economy will reopen at some point. We need to find a way to do it safely. Many of us who are at high risk, may need to continue to stay home, even when we do reopen our state. I know I will continue to stay in unless it is necessary to go out. It will be some time before most feel comfortable getting back to a normal routine.
We will be going in session on April 28. The plan is to pass a COVID relief package. Safety measures are in place. I am not sure what all the details are. I know only legislators will be allowed in the chamber. Outside visitors will not be allowed in any of the buildings. Our desks are being spaced in order to remain 6 feet apart. Precautions are being made to protect everyone, but the people’s business must be done.
Stay safe everyone.
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Joyce Krawiec is a conservative activist, former North Carolina Republican Party Vice-Chair, and retiring North Carolina Senator. Christian, wife, mother, small business owner, and conservative. She has endorsed Dana Caudill-Jones for North Carolina Senate.