The federal government has spent an enormous amount of money fighting COVID-19.

Uncle Sam ran a deficit of $3.1 trillion in fiscal year 2020. Just recently, President Joe Biden signed the American Recovery Plan Act into law, adding another $1.9 trillion in spending. But apparently, this isn’t enough. Both Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen say more is needed. Without continued fiscal support, they argue, the economic recovery will flounder.