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
Despite significant opposition from progressive Democrats, Senate Minority Leader Chuck Schumer announced he would vote to advance a Republican spending bill. This decision, following earlier statements of defiance, will likely allow the bill to pass with only a simple majority. The bill includes $13 billion in cuts to non-military spending and offers no restrictions on the Trump administration’s actions. Progressive lawmakers strongly criticized Schumer’s decision, arguing it would empower Trump and Musk while harming working people, and urged constituents to contact their senators.
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The House passed a partisan budget disguised as a continuing resolution, achieving Republican goals while significantly diminishing Congress’s power. This bill cuts non-defense spending, zeroes out funding for crucial social programs, and increases military spending and presidential leeway over funds. Several Senate Democrats are considering supporting it despite its flaws, prioritizing avoidance of a government shutdown over upholding Congress’s constitutional role. This decision risks enabling a de facto government shutdown orchestrated by the executive branch, bypassing Congress’s authority over federal spending. The potential for a Trump administration to unilaterally cut funding makes this a critical moment for Senate Democrats.
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Failure to pass a continuing resolution by Friday night risks a government shutdown. A House Republican short-term spending bill, including disaster relief, was rejected, largely due to opposition from Democrats who criticized its cuts to social programs and influence from Elon Musk and Donald Trump. Democrats argued the bill prioritizes the interests of billionaires over working people, leading to accusations of a government shutdown orchestrated by wealthy individuals. The rejected bill followed the Senate’s passage of an $895 billion military spending bill.
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Matt Underwood 
John Q. Hosedrinker