Tag Archives: Congress $40 trillion debt

Virus Bill Could Hit $40 Trillion

Congress is rapidly approaching $3 trillion in coronavirus spending and the Federal Reserve Bank is projected to loan out another $4 trillion in loans. Says Kentucky fiscal conservative Congressman Thomas Massie, “If those loans go bad, which is a distinct possibility in these uncharted economic times, then this has been a $7 trillion bill instead of a $3 trillion bill.”  But Massie says the outlook is considerably more dire. He projects the $7 trillion will easily reach $20 trillion and, with the Fed’s balance sheet rapidly growing, we could easily see a $40 trillion deficit when the pandemic ends. Massie sorts out the details with host Nicholas Ballasy on Just The News.

YouTube Poster