UK Politics

Mnuchin Says US Needs Balance Between Debt, Pandemic Relief

Treasury Secretary Steven Mnuchin said the GOP is trying not to add too much to the national deficit with more COVID-19 relief legislation, while defending Senate Republicans for their delay in coming up with a new package.

Mnuchin said Republicans are trying to see how the money was already spent in prior pandemic relief bills before adding more money.

“Weve authorized over $3 trillion into the U.S. economy,” Mnuchin told ABC News “This Week” on Sunday. “This has never been done in the history of time.”

The Treasury secretary said that care is needed to make sure that a relief package can help Americans in the present while not saddling the country with trillions of dollars in debt.

“We wanted to wait and see how the money was going to work, and we have to balance,” Mnuchin said. “Theres obviously a need to support workers, support the economy, people who through no fault of their own are shut down because of this terrible disease. On the other hand, we have to be careful about not piling on enormous amounts of debt for future generations. So the presidents determined to spend what we need to spenRead More From Source


The Epoch Times