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The U.S. is spending trillions to save the economy. Where does all that money come from?

The U.S. is spending trillions to save the economy. Where does all that money come from?

FromThe Trump Trials: Sidebar


The U.S. is spending trillions to save the economy. Where does all that money come from?

FromThe Trump Trials: Sidebar

ratings:
Length:
29 minutes
Released:
Apr 23, 2020
Format:
Podcast episode

Description

Trillions of dollars have been injected into the U.S. economy since March. Late last month, Congress passed a $2 trillion relief bill, the Cares Act, designed to help the country cope with the economic devastation it has faced since the novel coronavirus outbreak began.But those trillions weren’t enough.New legislation expected to pass in Congress on Thursday adds $484 billion to that total. These funds are allocated for small-business recovery, hospitals and coronavirus testing.As our country faces incredibly trying circumstances, emergency money from the federal government is intended to help us recover, to help businesses weather the storm and to keep our economy stable. So, is it working?As the federal government injects more and more money, where does it all come from? What are the short-term and long-term consequences of these economic decisions? And as we head toward the election in November, how does this all effect President Trump’s economic message — once a key pillar of his reelection efforts?On this episode of the“Can He Do That?” podcast, Washington Post congressional reporter Erica Werner and economics editor Damian Paletta explain the economic levers that Congress and the Federal Reserve can control, and what it all means for pumping money into the economy, accruing national debt, and the potential for rising inflation.Additional coronavirus resources:washingtonpost.com/virusnewsletterwashingtonpost.com/coronaviruswashingtonpost.com/podcastsRelated episodesStates are competing for life-saving medical equipment. Who decides where it goes?The U.S. stumbled at the start of the coronavirus outbreak. Can we make up for lost time?Does the president have much power to control a viral outbreak?
Released:
Apr 23, 2020
Format:
Podcast episode

Titles in the series (100)

“Can He Do That?” is The Washington Post’s politics podcast, exploring the powers and limitations of the American presidency, and what happens when they're tested. Led by host Allison Michaels, each episode asks a new question about this extraordinary moment in American history and answers with insight into how our government works, how to understand ongoing events, and the implications when branches of government collide.