Tag Archives: USA Economy: How to spend $2 trillion – Politico commentary

USA Economy: How to spend $2 trillion – Politico commentary

By RENUKA RAYASAMCAITLIN EMMA and MICHAEL GRUNWALD  – 03/25/2020 09:26 PM EDT
THIS ISN’T A BAILOUT. OR A STIMULUS — The $2 trillion bipartisan coronavirus legislation that Congress is finalizing this evening is more than twice the size of America’s biggest economic stimulus package, President Barack Obama’s 2009 Recovery Act. It’s also more than twice the size of America’s biggest corporate bailout, President George W. Bush’s 2008 Wall Street rescue. But even though it’s supposed to help the shattered economy and save failing businesses, it’s not primarily a stimulus bill or a bailout bill.

No, this is a disaster aid bill. And it’s nearly 25 times the size of the record-breaking disaster bill Congress passed after the deadly hurricanes of 2017. And this time, the disaster is just starting to unfold. It’s as if Congress is sending money to the coast just as the hurricane is reaching the shore, because the levees are already breaking.

READ MORE

%d bloggers like this: