Nancy Pelosi and the Democratic majority in the U.S. House of Representatives have no problem detailing how they want to spend $3 trillion in additional relief from the COVID-19 pandemic.

What they struggle with is explaining how the country will pay for it — so much so, that they don’t even seem to bother trying.

Still, it needs to be emphasized that almost all of this money would be borrowed, as was the $3 trillion Congress has already allocated to help individuals, businesses and states during this crisis.

It’s easy when talking about government spending to get lost in the zeroes. But $6 trillion would represent a trillion dollars more than the federal government spends in an entire year on everything it does — defense, transportation, social programs, Social Security, Medicare and Medicaid, everything.

It’s considered outrageous when Washington runs up a trillion-dollar deficit in a year. But the virus assistance is the equivalent of six years of outrageous deficits.

At some point, a lot of this borrowing will have to be paid back in either higher taxes or reduced benefits, as it’s doubtful the hoped-for economic rebound will cover it all.

So, looking a few years down the road, what taxes do the borrowers want to raise — or what benefits do they want to cut — in order to soften the present economic calamity that federal, state and local governments willfully engineered? Let’s hear a plan about that, too.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.