Republicans are growing increasingly anxious about the meteoric rise in the country’s debt amid unprecedented levels of federal spending aimed at softening the economic impact of the coronavirus.
Congress has passed four relief bills in the last seven weeks that total nearly $2.8 trillion—roughly the combined total of the fiscal year 2019 and 2020 discretionary spending for the entire government.
The mammoth spending comes as the coronavirus impact on the country has been severe: 22 million unemployment claims in the past month, a rocky market that has plummeted from record highs, nearly a million confirmed cases and more than 46,000 deaths, according to Johns Hopkins University.
Democrats, and some Republicans, are already turning their attention to a “phase four” coronavirus bill, which some experts have warned could need to match, or surpass, last month’s $2.2 trillion as the federal government struggles to keep pace with the country’s growing health and economic needs.
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