A Trillion Dollar Stimulus Package?
Holy Crap. I looked it up. The 2008 Stimulus Package was only $168 Billion.
Yet 2.8 Trillion Dollars was spent.
https://money.cnn.com/2010/12/20/news/economy/total_stimulus_cost/index.htm
I’m bad at math. Someone help me out here. If 168 Billion ballooned to 2.8 Trillion back then, what will 1 Trillion now ultimately cost???
Part of the “cost” is in the form of tax cuts.
The world leaders have been kicking this economic reckoning can down the road for decades. Many “experts” have wrongly predicted for many years that they are about to run out of road. But this virus may just have put up an instant concrete wall right in the middle of the road.
It wasn’t that long ago that I said “billion seems to be the new million”, and yet we are already hearing the word “trillion” thrown out all over the place. This is simply not sustainable, and the virus may have just brought this century long party to an abrupt end.