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.
Charlie Kirk supporters return to site of assassination 1 year later: ‘We are still standing’
Juror on Lindsay Clancy trial says ‘we let down Lindsay’ following mistrial
Top GOP senator reveals what Dem colleagues are fretting about behind closed doors
Several People Who Were Fired Over Charlie Kirk Comments Got Big Payouts or Were Given Their Jobs Back
JD Vance to invoke Charlie Kirk, family ‘birthright’ in fiery midterm keynote speech thrashing Dems
FBI Busts Scheme to Use Skid-Row Homeless to Steal Voters’ Identities for Ballot Petitions
Conservatives Accuse Netflix of ‘Subtly Mocking Charlie Kirk’s Assassination,’ Call for Mass Cancellation
Patriots Announcers in Disbelief as QB Throws Away Season Opener on Final Play: ‘What Was He Thinking?’
Judge questions possible attorney conflict in DC pipe bomber case
Prosecutor Joseph diGenova resigns from DOJ role investigating Trump-Russia probes
Fatwas, holy wars and socialism: Inside the Islamic conference where El-Sayed drew a hero’s welcome
ICE arrests Peruvian national accused of illegally voting in 2024 election as DHS cites similar cases
TPUSA Official Explains How ‘Ghouls’ Celebrating Anniversary of Charlie Kirk’s Death Are Actually Helping His Cause
Deep Dive: One Year On, ‘A Million Charlie Kirks’ Have Not Yet Emerged, But Disunity and Insanity Have
James Talarico needles Ken Paxton amid GOP midterm convention
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.
