Coronavirus Aid Relief and Economic Security (CARES) act is about $2.1 trillion which includes about $500 billion in loan guarantees. There was another $450 billion passed.
So figure about $2.6 trillion passed in legislation for coronavirus aid and stimulus.
Then also account for about $400 billion deficit spending over the last 4 months not related to the coronavirus response.
Hence, that accounts for the $3 trillion deficit for present day. This is based on all the business loan money becoming bad debt.
So figure about $2.6 trillion passed in legislation for coronavirus aid and stimulus.
Then also account for about $400 billion deficit spending over the last 4 months not related to the coronavirus response.
Hence, that accounts for the $3 trillion deficit for present day. This is based on all the business loan money becoming bad debt.