This is the Cato Daily Podcast for Tuesday, April 7th, 2020.

I'm Keela Brown.

Spending trillions of dollars in that recent federal coronavirus relief package demands at least oversight.

So how will it work?

Cato's Will Yeatman has gone over what the legislation demands.

We spoke yesterday. What Congress passed to spend this $2 trillion, which is, you know, it's

hard to overstate what a huge amount of money this was, especially when you consider that the federal government

spends about $4 trillion a year in a year.

So what was built in to this legislation with respect to oversight?

A great deal actually and this is something that the House majority and that is to say the Democrats in the House and Democratic leadership in particular, Nancy Pelosi, that they fought for and they're to be commended for this.

Oversight is never so important. there to be commended for this.

Oversight is never so important as during times of stimulus.

I mean, the whole idea behind a stimulus

is to rush as much money out the door as fast as possible.

That presents two distinct dangers.

The first is, haste makes waste, as the old adage goes.

I mean, we sort of learned this in the last stimulus,

about a decade ago, in the wake of the financial crisis.

And the second potential problem is that of politics.

If this stimulus is a black box administered

by the Trump administration, who's to say

that they wouldn't do something like a disproportionately invest these stimulus

...