Tim Penny: Pandemic-related federal aid: Make it fast, but also make it prudent
Tim Penny is president & CEO of the Southern Minnesota Initiative Foundation and co-chair of the Committee for a Responsible Budget. He recently wrote a piece for the Star Tribune, an excerpt of which is below:
The reason to maintain fiscal order during a strong economy is to make room for a robust fiscal response during times of crisis.
Looking back, it’s easy to see how federal funds could have been better allocated to leave Congress with more flexibility to address this new national emergency. However, shoddy budgeting in years past, while frustrating, doesn’t mean we can pull back and leave health care workers, households and businesses to fend for themselves.
The severity of the pandemic and the economic downturn meant we had to funnel federal aid into the economy in a fast but prudent manner. To its credit, Congress has largely done that, up to this point.
Read the entire piece here.
"My Views" are works published by members or staff of the Committee for a Responsible Federal Budget, but they do not necessarily reflect the views of all members or staff of the Committee.