Trump and congressional leaders are ready for another Coronavirus relief packages that may provide state and local with another Bailout. Exchanging of views suggest that the range will be $200 billion to $1 trillion.
Their view is that it should be cut down to nil. There may be so many wrong consequences as related to going more deeply into , specifically when there are superior soln is available. Government debt is going to increase as per the expectations.
The debt will increase the bailout money which will eventually increase all other taxes, so its high time for the people to say no more to the debts. As per the reports, it will increase around the entire economy by the end of the month, this thing does not happen since World War 2.
The coronavirus has also infected our economy which has responded around 4 rounds of legislative relief. State and local reliefs received around $150 billion local And State Government Loggerhead To Provide Another Bailout For Covid19 Relief Packages for unexpected expenditures which are directly related through the pandemic.
The Federal government cannot afford to take its debt more than $26 trillion. By taking more it will risk the defence or infrastructure or other items. Many states can meet their needs with the existing federal funds round, and lawmakers will receive from DC and justify it. It’s a practical and realistic decision that better not to provide states with more money become more debt will the country worse off.
Well, for now, everything depends upon Trump and its administration.