Episode 985: Where Do We Get $2,000,000,000,000?
The U.S. Capitol stands past a pedestrian crossing Pennsylvania Avenue in Washington, D.C., U.S., on Wednesday, March 25, 2020. Shortly after midnight today, the White House and Democratic lawmakers said they reached agreement on a $2 trillion bill aimed at limiting the economic hit of the coronavirus outbreak. Photographer: Al Drago/Bloomberg via Getty Images Bloomberg/Bloomberg via Getty Images hide caption
The U.S. Capitol stands past a pedestrian crossing Pennsylvania Avenue in Washington, D.C., U.S., on Wednesday, March 25, 2020. Shortly after midnight today, the White House and Democratic lawmakers said they reached agreement on a $2 trillion bill aimed at limiting the economic hit of the coronavirus outbreak. Photographer: Al Drago/Bloomberg via Getty Images
Bloomberg/Bloomberg via Getty ImagesNow is not the time for finely crafted solutions. The economy is in crisis, and Congress is tackling it by doing what they do best: Spending inconceivable amounts of money.
The economic rescue package coming out of the Senate will send an avalanche of cash to small businesses, large corporations, state and local governments — and, mostly importantly, regular Americans. Almost everyone will have more money in their pockets, but where exactly will that money come from?
On today's show, we go deep inside the mechanisms to come up with two trillion dollars before the economy collapses. There's the regular way and the magical way, and this time we'll need both. Also, we'll ask: Can you create too much money, and what happens when you do?
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