The results of this would be nothing less than catastrophic, ensuring the economic crisis would be even worse. Senate Majority leader Mitch McConnell is quickly pivoting to austerity, saying that the national debt is too high and suggesting that states should be able to declare bankruptcy instead of being rescued. Congress has passed several enormous economic rescue measures, but it seems the latest bill - containing a boost to the small business bailout, plus some money for hospitals and testing - will be the last one for some time. Indeed, the political reaction is beginning to resemble the '30s in troubling ways already.
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