Biden Treasury Secretary Janet Yellen is ringing alarm bells, trying to shame Republicans into voting to raise the federal debt ceiling. In a Wall Street journal op-ed, she argues: “The U.S. has always paid its bills on time and the overwhelming consensus among economists and Treasury officials of both parties is that failing to raise the debt ceiling would produce widespread economic catastrophe.”

As we have seen in the past few relief packages, Democrats in Congress have shown their willingness to use the COVID-19 pandemic as a pretext for endless spending. The House’s passage of the HEROES Act was no different.

Congress will soon consider another legislative solution to COVID-19, having already passed four bills in response to the pandemic. Those bills have increased the budget deficit by some $2.4 trillion, and new legislation will likely near $1 trillion, adding more to the budget deficit.

Congress may be out of session this week, but when lawmakers return, we all know they will get back to their favorite pastime of spending taxpayer dollars. The phase four coronavirus relief bill, which will almost certainly be in the ballpark of $1 trillion or more, is inevitable. In addition to increasing the deficit, lawmakers, particularly Democrats, are willing to incentivize Americans to stay far more than six feet away from the economy.

The Senate gave final legislative approval Wednesday afternoon to the $100 billion Families First Coronavirus Response Act and President Trump is expected to quickly sign it into law. But the cost of this bill pales in comparison to emergency economic assistance legislation that could cost $1 trillion or more.

When acting White House chief of staff Mick Mulvaney tore into Republicans for hypocritically voting to increase spending for the past three years after railing against high deficits during the Obama years, he was simply echoing a sentiment deeply held for years by the grassroots. Citing the “extremely disturbing” $1 trillion deficit, Mulvaney hit the nail on the head.

Federal spending Opens a New Window. so far this year has already topped $3 trillion -- a new record for the first eight months of the year -- and Congress Opens a New Window. is once again coming up on an appropriations deal impasse.