Pelosi Tells Democrats Next Stimulus to Be at Least $1 Trillion as Goldman Predicts Explosion in U.S. Debt

from Zero Hedge

The SBA and the Treasury have yet to figure out how to distribute the hundreds of billions in small and medium-business rescue funds from the recently passed $2.2 trillion Phase 3 coronavirus bailout bill, and the US government is already planning its next, Phase 4 fiscal stimulus.

Earlier this morning, Goldman’s chief economist Jan Hatzius wrote that after Congress enacted three fiscal relief measures over the last few weeks – which provide aid to unemployed workers and state governments, payments to individuals, and loans and tax benefits to businesses – “further fiscal support for the economy looks likely to be needed“, and Goldman’s fiscal forecast assumes that Congress enacts at least one more fiscal package” because the measures enacted to date, “are not yet equal to the lost income due to COVID-19 that we expect.”

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