Are There Costs To The New Stimulus Bill?
Spring Hope Enterprise & The Bailey News (NC)
The new COVID-19 relief bill is big - really big, as Barney Fife would say. It will provide $1.9 trillion of federal government spending to people, businesses, state and local governments and a variety of other institutions. This is in addition to $4 trillion of help approved last year.
The logic of this assistance is straightforward. Without the funding, many households would have been destitute, lacking the essentials for living. Also, many more businesses would have become bankrupt. Even with the help, some economists estimate the small business bankruptcy rate may reach 25%.