This week, House Speaker Nancy Pelosi unveiled a new coronavirus relief bill with the eye-popping price tag of nearly $3 trillion.
One trillion of that is designated as financial assistance for cash-strapped states and localities, but is taxpayer money the best way to deal with this challenge?
Openthebooks.com CEO Adam Andrzejewski joins us to explain why he thinks Pelosi has the wrong idea and he uses Illinois as just one example of the states that were in a fiscal mess even before the virus hit.
Andrzejewski also details how a number of ostensibly charitable hospitals are just sitting on many billions of dollars in endowments but instead of using that money to respond to the crisis, they are taking money from taxpayers…and so are the wealthiest colleges and universities.
Finally, Andrzejewski discusses the mushrooming debt brought on by trillions in emergency spending, what the impact of that will be, and whether fiscal discipline still has a pulse in Washington.