By BRENT MARTIN
St. Joseph Post
Congressman Sam Graves expects to see another economic stimulus bill, but says any more help to overcome the coronavirus-induced economic downturn needs to be more focused.
Congress quickly approved a $2 trillion stimulus package to help an economy laid low by restrictions to slow the spread of COVID-19.
Graves points out there is a limit to what Congress can do, especially in light of the soaring national debt.
“We’ve already passed several stimulus packages and spent trillions and trillions of dollars, thrown that right on top of the debt and the deficit,” Graves tells host Barry Birr on the KFEQ Hotline. “That can’t go on forever, either.”
The Congressional Budget Office reports the federal budget deficit was $2.7 trillion the first nine months of the 2020 Fiscal Year, $2 trillion more than the deficit recorded during the same time period a year ago. The national debt is approximately $25 trillion.
Graves does expect Congress to again step in to help an economy under distress due to coronavirus-imposed restrictions. Graves says any new federal help might first start with pumping more money into programs already approved.
“We’re going to have to do some plus-ups, I think, with some of these stimulus packages that we’ve had and we’ve already done that to an extent, for instance helping out hospitals that, truly, you take Missouri, a lot of rural hospitals out there were waiting for this wave that never came. What was paying their bills is elective surgeries and things like that and those hospitals were hurting,” Graves says.
Graves wants to see any new stimulus money from Washington to be more focused. He says it needs to target those who have suffered from the drastic drop in the economy.
“Will there be another stimulus? I think we’re going to take a wait and see approach,” Graves says. “Let’s see where we are. The money still has not been used up.”
Graves does expect Congress to approve more stimulus money by late summer.