Check Is in the Mail? For Many Bill Payers, It Won’t Be
On Wednesday, as on the first day of any month, many companies and households will have bills to pay. This time, a lot will simply pile up.
Angela Rogan is unlikely to make the rent on her apartment in the San Francisco Bay Area. Katherine Anderson, who owns a cafe-bakery in Seattle, isn’t going to pay her $30,000-a-month lease. Even the Cheesecake Factory, a multibillion-dollar company, has told landlords not to expect an April remittance.
The trajectory of the U.S. economy will largely rest on how many payments go unmade, which bills are put ahead of others and the terms on which they are settled.
The $2 trillion relief package passed by Congress amounts to a grand attempt to flush the economy with cash so that the obligations of corporations and minimum-wage-earning tenants alike can be met as usual.
[Source: New York Times]