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Local experts weigh in on potential effects of the Heroes Act on the economy

Posted at 6:55 AM, Jun 04, 2020
and last updated 2020-06-04 07:55:44-04

MCGREGOR, TX — Experts explain it might be months before decisions are made on the Heroes Act.

More discussion on whether the United States people will receive a second round of stimulus checks has confusing many.

Local economists weight in on what it may mean if the country takes on an additional three trillion dollars of debt.

"If inflation goes up, if interest rates go up all of a sudden the interest rate payments could actually eventually get to the point where they swamp the actual amount of revenues taken in by the government" explained Doctor Robert Tennant of Texas A&M Central Texas.

"Adding two or three trillion dollars at a pop to the national debt does have long term consequences for future generations" explained Tennant.

Experts pointing towards the fact that the passing of the Heroes act has been explained as unlikely by many.

The Heroes Act full of items that if passed would provide funding to a number of Americans for a variety of reasons.

Discussions have pointed to the ability of the Senate to wait until their recess in August to make their decision.