CBO: Republican megabill to cost $4.1T, due to higher borrowing costs. That’s a hefty price tag, isn’t it? The Congressional Budget Office, or CBO, has crunched the numbers on a Republican megabill, and the projected cost is a staggering $4.1 trillion. And the main culprit? Increased borrowing costs. It seems like the measure’s financial impact is going to be felt across the board.
The measure is also expected to add trillions to the federal deficit. This is where things get really concerning. Not only is this bill going to cost a fortune, but it’s also predicted to significantly increase the federal deficit.… Continue reading
GOP megabill’s final score: $3.4T in red ink and 10 million kicked off health insurance, CBO says, it’s a tough pill to swallow, isn’t it? The numbers tell a stark story: a massive increase in the national debt, and millions losing their healthcare coverage. It’s a punch to the gut for anyone who believes in fiscal responsibility and the well-being of all citizens.
The fiscal consequences are staggering. A $3.4 trillion increase in the deficit. Think about that for a moment. All the talk of cutting spending, of tightening the belt, and it ends with a mountain of debt that future generations will have to grapple with.… Continue reading
President Trump signed a comprehensive tax and spending bill on the Fourth of July, fulfilling campaign promises. The legislation includes significant tax cuts, increased spending on immigration enforcement and the military, and cuts to Medicaid. The bill is projected to add trillions to the national debt while reducing tax revenues and potentially leading to millions losing health insurance. Despite some Republican opposition, the bill narrowly passed Congress, setting the stage for a political battle over its economic impact.
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The “One Big Beautiful Bill Act” (OBBB), a 940-page budget reconciliation bill, proposes $3.8 trillion in tax cuts and spending that could add $4.5 trillion to the national debt. Senate Democrats, led by Chuck Schumer, are delaying the bill’s passage by requiring it to be read aloud in its entirety, a process estimated to take at least 15 hours. This move aims to highlight the bill’s contents, which include tax breaks for billionaires, potential cuts to healthcare and food assistance, and giveaways to fossil fuel companies. Some Republicans, including Marjorie Taylor Greene, have admitted to not fully understanding the bill’s contents before voting on it, further intensifying the debate surrounding its weighty consequences.
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Senate Republicans unveiled a 940-page bill on Friday, aiming for a Saturday vote on President Trump’s agenda, including tax cuts, increased military spending, and funds for deportations, along with cuts to Medicaid and clean energy. The bill, expected to add $4 trillion to the national debt, faces internal Republican opposition, with several senators voicing concerns over its contents and the process. Key provisions include extending tax cuts, a $5 trillion debt ceiling increase, and a controversial Medicaid provision that could jeopardize support from some Republicans. While the GOP hopes to utilize the budget reconciliation process, the bill’s passage remains uncertain, with the House and potential presidential involvement still in the picture.
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The U.S. government’s deficit swelled to over $316 billion in May, pushing the year-to-date total to $1.36 trillion—a 14% increase compared to the previous year. Soaring interest payments on the $36.2 trillion national debt, exceeding $92 billion, were a primary driver, despite a 15% rise in May tax revenue. While tariff collections contributed positively, the deficit’s magnitude, exceeding 6% of GDP, has prompted warnings from prominent financial leaders about potential economic instability.
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The Congressional Budget Office estimates the Republican tax and spending bill will slash Medicaid by over $700 billion and food stamps by nearly $300 billion, resulting in approximately 16 million people losing health insurance and potentially 51,000 preventable deaths annually. Despite these drastic cuts, the bill includes $3.7 trillion in tax cuts, increasing the national debt by $2.4 trillion by 2034, with the wealthiest Americans receiving the largest tax benefits. This debt increase is particularly concerning given high interest rates and the bill’s regressive impact. Even some House Republicans have expressed regret over the bill’s provisions.
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The Congressional Budget Office (CBO) projects the House GOP’s reconciliation package will increase the national debt by $2.4 trillion over ten years, despite significant cuts to programs like Medicaid and SNAP. This is due to $3.75 trillion in tax cuts disproportionately benefiting the wealthy, only partially offset by spending reductions. The CBO also estimates 10.9 million people will lose health insurance under the plan. Critics widely condemn the bill as fiscally irresponsible and exacerbating wealth inequality, while Republicans attempt to discredit the CBO’s findings.
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Senator Rand Paul vehemently opposes the proposed budget bill, citing a projected $5 trillion increase to the national deficit as his primary reason for dissent. This stance directly contradicts President Trump’s support for the legislation. Paul’s criticism centers on the bill’s inclusion of a substantial debt ceiling increase. The ensuing controversy highlights a significant rift between Paul and Trump.
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Matt Underwood 
John Q. Hosedrinker