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More $$ to Come?

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  • Although the $2.2 trillion stimulus package approved last week is the largest economic bailout in U.S. history, some lawmakers think the infusion of money still won’t be enough — and word is they’re already eyeing a second economic relief bill.
  • Among those who have indicated another package is on the way is Senate Minority Leader Chuck Schumer, who tells The Hill, “I think the odds are we’ll need more legislation. First, we don’t know the extent of the crisis in terms of the magnitude, so that could rise. But there are going to be problems that we don’t realize now that we’re going to have to grapple with.” House Speaker Nancy Pelosi has echoed Schumer’s comments.
  • Also on board with more legislation is Treasury Secretary Steven Mnuchin, who on Monday said he has every intention of asking Congress for more funds if the $350 billion earmarked for small businesses runs out. “This is a very popular program with Republicans and Democrats, and the president likes it a lot,” Mnuchin says. “If we run out of money, we will absolutely go back to Congress and ask for more money.”
  • Where is all this money coming from? How many times can the government do this before the entire country is bankrupted?
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