Breaking News
More () »

Corpus Christi's Leading Local News: Weather, Traffic, Sports and more | Corpus Christi, Texas | kiiitv.com

Economics professor discusses affordability of proposed $1.9 trillion stimulus package

The amounts will likely not have a huge impact for many Americans, but they obviously will mean more to lower income families.

CORPUS CHRISTI, Texas — There has been a lot of talk about whether the country can afford the nearly $2 trillion cost of the latest stimulus plan proposed by Democrats. 

One Coastal Bend economist says while Republicans and Democrats argue over stimulus check amounts, it is important to provide some economic relief.

Dr. Jim Lee, an economics professor at Texas A&M University-Corpus Christi, said the country does have the ability to borrow enough money to cover the costs.

"Yes. We are going to plan to add as much as $2 trillion to the debt, but then we're going to pay it off over time. So we have generations to pay it off and those will be future generations to pay off this debt," Lee said.

"In Corpus Christi, a living wage is actually over $30,000," Lee said. "That's a minimum amount that we need to make. I'm not talking about a luxury living, but that's a minimum amount that we need to be OK."

Dr. Lee said such small payments will mean more to those living near the poverty level which is just above $26,000 a year.

For the latest updates on coronavirus in the Coastal Bend, click here.

More from 3News on KIIITV.com: