Just how much does Congress and the White House plan to spend on the all-but-inevitable Phase 4 pandemic relief bill? They have already authorized $3 trillion in emergency spending, some of which has yet to be disbursed, a sum that normally would be about three-quarters of an annual federal budget. Everyone now wants to spend even more off-the-books money as the crisis waxes and wanes, perhaps most especially on some sort of direct-stimulus payments.
So where does the bidding start? It had better be higher than a trillion dollars, Nancy Pelosi declared today, scoffing at calls to limit the red ink. Politico reports that just the state and local aid Pelosi wants adds up to that much, and then she’d consider the GOP’s priorities as an addition. But Pelosi’s happy that Republicans are asking to spend more money these days: