Please explain why its economic agony? Because there won’t be this extra trillion in the economy? Or because these bozo’s in Congress will have to explain to their “handout” constituency that we’ve had to cut their favorite cell phone giveaway program or close their favorite military base?
Closer to a trillion-and-a-half in current deficit spending.
But, considering that a lot of that comes back to the Feds as personal and corporate income tax and other taxes, the first cut of a trillion-and-a-half will cause a decrease in revenue, leading to further cuts, further decreasing revenue, and so on.
Probably closer to $2 trillion out of the economy.
Roughly $7000 for every man, woman and child in the country.
Figure $25,000 for a family of four.
There is no way out of this that doesn't involve a great deal of unpleasantness; it's beyond the ability of humans to fix without great pain.