Billionaire bond king Jeff Gundlach slammed the Democrats' proposed new $3 trillion coronavirus relief bill — and said it would take total state aid to 'over 150% of Federal taxes'
while the total combined amount of state aid provided, if the Democratic bill passed, would pass $5 trillion.
His sentiments echoed the views of several prominent Republicans who have criticized the massive state aid programme. than extend federal aid that would require further deficit spending. He later rowed back the comments after a sizeable backlash.over the purpose of taxation if "endless" borrowing is viable. In a stinging attack, Gundlach appeared to suggest that the Treasury Department's levels of borrowing are unsustainable.
"It could even be a modest % of what they earn every year. We could have an agency collect it and everything," AOC said in her Twitter thread.Do you have a personal experience with the coronavirus you'd like to share? Or a tip on how your town or community is handling the pandemic? Please emailfrom Business Insider Intelligence on how COVID-19 is affecting industries.
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