Anonymous
7/4/2025, 12:09:57 AM No.1417847
https://www.npr.org/2025/07/02/nx-s1-5454598/the-gops-massive-bill-would-add-trillions-of-dollars-to-the-countrys-debt
The massive tax cut and spending bill passed by the Senate this week is expected to add trillions of dollars over the next decade to an already hefty federal debt.
The precise level of additional red ink depends on the forecast. The Yale Budget Lab says it would add $3 trillion over the next 10 years, while the Congressional Budget Office (CBO) estimates it would add $3.4 trillion. Meanwhile, the Committee for a Responsible Federal Budget puts the total at $4 trillion or more.
But bean counters all agree: The measure, if passed, would push the government's finances even further out of balance. The bill now heads back to the House, which had passed a somewhat different version earlier this year.
"The level of blatant disregard we just witnessed for our nation's fiscal condition and budget process is a failure of responsible governing," said Maya MacGuineas, president of the Committee for a Responsible Federal Budget. "These are the very same lawmakers who for years have bemoaned the nation's massive debt, voting to put another $4 trillion on the credit card."
The massive tax cut and spending bill passed by the Senate this week is expected to add trillions of dollars over the next decade to an already hefty federal debt.
The precise level of additional red ink depends on the forecast. The Yale Budget Lab says it would add $3 trillion over the next 10 years, while the Congressional Budget Office (CBO) estimates it would add $3.4 trillion. Meanwhile, the Committee for a Responsible Federal Budget puts the total at $4 trillion or more.
But bean counters all agree: The measure, if passed, would push the government's finances even further out of balance. The bill now heads back to the House, which had passed a somewhat different version earlier this year.
"The level of blatant disregard we just witnessed for our nation's fiscal condition and budget process is a failure of responsible governing," said Maya MacGuineas, president of the Committee for a Responsible Federal Budget. "These are the very same lawmakers who for years have bemoaned the nation's massive debt, voting to put another $4 trillion on the credit card."
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