On March 27, the Congress passed and the President signed a $2.2 trillion economic stabilization bill. It was by far the largest money bill ever enacted into US law. That bill followed two previous, smaller — but hardly inconsequential — bills for the same purpose, and was itself followed by a fourth bill. On top of those bills, the Federal Reserve will facilitate trillions of dollars of new lending; but noting the issues not yet addressed, the Congress has begun — via the press only, by all appearances — arguing over a fifth bill.
Nobody is counting all that money. Nor should they. You don’t worry about your cellphone bill when your stalled boat starts taking water just out of sight of shore. Likewise, you don’t dawdle on shoring up an economy that would otherwise be in free-fall.
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