The government budget deficit is about to explode to fight the coronavirus
A sign showing the national debt and each Americans share is displayed on November 6, 2019 in Washington, DC.
Tasos Katopodis | Getty Images
Remember when people were all worked up over trillion-dollar government budget deficits? Those might seem like the good old days, once Congress and the White House finish up the coronavirus rescue package expected to be approved in the next few days.
Estimates of just how big the final bill would be vary, but it’s assured that it will be a historic moment for sheer fiscal force being exerted at a time of economic duress.
Administration statements over the past few days point to something on the order of $2 trillion in economic juice. By contrast, then-President Barack Obama ushered an $831 billion package through during the financial crisis.
That type of fiscal burden comes as the government already has chalked …continued .
[Source: CNBC News]