The coronavirus economic rescue package expected to be approved by lawmakers shortly will amount to $6 trillion, White House economic adviser Larry Kudlow said Tuesday evening.
Kudlow’s figure includes $4 billion in asset purchases by the Federal Reserve and $2 trillion in spending authorized by Congress.
The actual amount marshalled to rescue the economy from the widespread business shutdown and collapse of consumer spending could be even higher because the Fed has said it will spend unlimited amounts to buy Treasuries and other securities to support the economy.
Trump reveals Maduro ‘would like to talk’ as military options remain on the table for Venezuela
Marco Rubio says Nicolás Maduro’s Cartel de los Soles to be designated a terrorist organization
The Speaker’s Lobby: Happy New Year as shutdown showdown draws to a close
‘RFK Legacy’ Doc Film by Oliver Stone Draws Nexus Between JFK’s and RFK’s Assassinations
US forces kill 3 narco-terrorists in Eastern Pacific lethal strike operation targeting drug networks
How Harvard’s psychological experiments may have lit fuse on Unabomber: expert
Scott Jennings Shreds Dems’ Shutdown Blame Game with Just One Question
Chicago homeowners demand answers, speak out at ‘property tax bonfire’
Houston thug charged with murder after 8 arrests shows ‘revolving door’ failures: GOP lawmaker
Op-Ed: Leftists Hailing Recent ‘Victories’ Are Delusional
Massie says Trump investigating Epstein ‘hoax’ a ‘last-ditch effort’ to stop release of files
OJ Simpson estate accepts Fred Goldman’s $58M wrongful death claim nearly 30 years later: report
Trailer Park Near Military Base Linked to Chinese Communist Party: The Base Commander Had No Clue
Socialist Wins Mayor’s Race After Ballot Dumps Over a Week After the Election
Texas Illegal Allegedly Stole Child’s Identity to Cash in on Medicaid, Obtain 7 Jobs
Kudlow said the package Congress is close to passing will be “the single largest Main Street assistance program in the history of the United States.”
Funds appropriated by Congress will likely be funded by borrowing by the U.S. Treasury, as no offsetting spending cuts or tax hikes are being considered. The Fed’s programs will be funded out of newly created money that is offset by the Fed purchases, which remove financial assets from the private sector in amounts equal to the new dollars.
