Kevin Drum keeps talking about the need to means test any checks the government sends out. The current interest rate on a 1 year Treasury is a whomping 0.3%*. For every million dollars the government borrows, it has to pay back $3,000 more in a year. Is it really that much to pay to simplify things and get checks into people’s hands as fast as possible?
Investors are practically paying the US government to hold their money. We can afford to spend billions upon billions upon billions because it doesn’t actually cost anything to do so!
* The five year rate is a ginormous 0.794%.