'What's needed is not another version of PPP. Again, good intent but it's the wrong medicine,' Howard Schultz told CNBC.
Rather, Schultz said he believes the government needs to create a robust program to serve as a "bridge to a vaccine." The price tag may be around $1 trillion, he said. "It's large. I understand it."
Millions of Americans would then be out of a job, Schultz said. "Not to mention the social fabric of every community which the independent restaurant is so linked to." Schultz said the program he ultimately envisions does involve the government backstopping loans to smaller restaurant owners.
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