‘We need to spend what it takes’ – Mnuchin

“We need to spend what it takes to win the war,” Treasury Secretary Steven Mnuchin declared in an apparent rebuke to Senate Majority Leader Mitch McConnell, who feels the federal government should “push the pause button.”

While he’s sensitive to concerns about the rising federal debt, Mnuchin believes low interest rates and the urgency of preventing as much long-term damage as possible cuts in the other direction.

Many expect the national debt to exceed $3.8T for 2020, meaning for the first time since WWII, the nation will owe more than its economy can produce in a given year.

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