If the Democrat's current Covid-19 relief bill becomes law, what will be the average cost to each U.S. household of all federal Covid-19 relief laws?
The federal government has passed 5 laws to address the Covid-19 pandemic and the consequences of government-mandated lockdowns. According to the Congressional Budget Office, the first will cost $8 billion, the second $192 billion, the third $1.8 trillion, the fourth $483 billion, and the fifth $868 billion. If the Democrats' current bill becomes law, CBO estimates it will cost another $1.9 trillion. Combined, these laws will cost an average of $41,036 for every household in the United States. Because the federal government was running a deficit before it passed these laws, these costs will add to the national debt and be borne by future workers and taxpayers. This doesn't include the repercussions of the Federal Reserve creating trillions of dollars in new money to purchase federal government debt and other financial assets.