Washington Reaches Deal to Spend Money we Don’t Have

No, we don’t even know what is in the bill. What I can guarantee you is that for every dollar spent on something worthwhile, two dollars will be wasted or lost to graft. We are mortgaging our grandchildren’s future because of our bad governance today.

“In effect, this is a war-time level of investment into our nation,” said McConnell, who promised the bill would rush financial assistance to Americans through direct checks to households, enhanced unemployment insurance, hundreds of billions of dollars in emergency loans to small businesses, and more resources for hospitals and medical equipment.

The Senate has yet to release the final terms of the deal. An earlier draft seen Tuesday would provide cash payments of up to $1,200 for individuals, $2,400 for married couples and $500 per child, reduced if an individual makes more than $75,000 or a couple makes more than $150,000.

The draft language also stipulated a $350 billion fund for small businesses to mitigate layoffs and support payroll.