How did the original $850 billion coronavirus stimulus package grow to $2.2 trillion in less than two weeks?
Washington has already accumulated $23 trillion in longterm debt, which is forecast to grow by $1 trillion annually for years to come, even prior to the outbreak. The funding of this stimulus package will be paid for with more borrowed funds, increasing our national debt once again.
Government, the private sector and citizens must make difficult financial decisions on how to use existing resources. Americans prioritize their own family budgets, and make conflicting choices on how existing household financial resources will be spent. If it can wait until later, it should be postponed.
The world's favored currency is our dollar, but this could end if Washington will not control annual increases in spending and debt. Our reign as a world superpower will come to an end like all empires.