What the Coronavirus did to the National Debt, Your Bill Exceeds $37,726
June 10, 2020
In March Congress added $2.3 trillion to the national debt with the stimulus package. Most were jubilant to receive a stimulus check. But what does this mean? Just to pay this back today would cost each taxpayer $18,863 (compare U.S. Debt Clocks Nov. 2019 with April 2020).
In May the Treasury Department announced that it will borrow another $3 trillion this quarter making our total coronavirus indebtedness $5.3 trillion and thus what we owed for the smaller loan more than doubles (Matt Egan, The US is becoming the king of debt. It's a necessary risk, CNN Business). To pay both loans in Augu...