North Carolina gets 1st installment of coronavirus $$$ from DC
The state treasurer’s office has confirmed that North Carolina has received $2 billion as part of the federal CARES (Coronavirus Aid, Relief and Economic Security) Act. The state is slated to receive a total of more than $4 billion from the recently-passed congressional legislation. (The CARES Act includes a total of more than $150 billion to be distributed to all 50 states and the US territories to help soften the economic blow brought on by the coronavirus. )
Treasurer Dale Folwell, as the state’s “banker,” took receipt of this initial payment from Washington. What happens next to the money is the domain of The General Assembly and the Office of State Budget and Management. Those two entities will make the decisions on where specifically the money from Washington will be applied. Until those decisions are made, the treasurer’s office will hold the money in short-term investment funds.
We are now 23 to 24 trillion in debt. We got so mad with Obama spent money, but just don’t care when it’s our guy.
Only getting started. Seems there will be 3-4, perhaps 5 spending bills. Unreal. And wait until we discover we financed and bailed out Illinois, NY, Calif unfunded pensions plans that by Law in 2006 had to be fully financed by 2021. That will be part of the plan and GOP/Dems will buy-in. They spent liberally yet we the US taxpayer will fund those states. The longer closed, the longer the recovery and the deeper the gap and the more $$ spending the US govt will do. Just down the Dem alley….and many Republicans as well. This shut down was based on models not remotely accurate nor do I suspect were thought to be accurate, by design. Once we saw the huge disconnect, why every state, every community remained closed is puzzling. Harvard, $9M in aid..w/ Columbia and Cornell, $12.8M ea and Yale, $7M, yet $billions in Endowments, while Main St mom and pop stores mostly getting nothing. Suppose the ‘new America’. I’ve outlived my shock factor, about 10x.