Trump tax bill would widen deficits by $2.8T after factoring in economic impacts, CBO says

'Nobody's pushed back on my numbers': Lone GOP senator revolts against party's $2.8 trillion deficit-busting megabill

A new Congressional Budget Office (CBO) report shows the Republican border, energy, and tax package would add $2.8 trillion to the national deficit over ten years, contributing to what economists warn could make America responsible for two-thirds of the global deficit problem, but most GOP senators are dismissing these warnings. While Senate Majority Leader John Thune moves to push the bill through to President Trump’s desk, Republicans are larg…

Goldman Sachs says Trump's spending plan won't stop the national debt from hitting 'unsustainable' highs not seen since World War II

The U.S. will pay $1 trillion in interest on the $36 trillion national debt next year, more than it spends on Medicare and defense. If lawmakers wait too long to address deficits, Goldman economists warn, a historic austerity push could be needed to avert disaster. President Donald Trump has claimed the GOP’s “Big, Beautiful” bill will put the U.S. on a sustainable fiscal path. Economists at Goldman Sachs say it won’t prevent the nation’s debt f…

Deficits from 'big beautiful bill' to rise nearly $2.8T under new dynamic estimate: CBO

The nonpartisan Congressional Budget Office (CBO) released a new dynamic analysis that found Republicans' "big beautiful bill" would raise budget deficits by over $300 billion more than in its previous analysis, which estimated it would widen deficits by $2.4 trillion over a decade.The CBO found that the House-passed version of the legislation would raise federal budget deficits by a total of $2.77 trillion over the next decade using a dynamic a…

The 'big beautiful bill' will require even more borrowing than previously thought

For months, Republicans have argued that there's a glaring flaw in various budgetary projections showing that deficits will significantly increase if Congress passes a major tax cut and spending package. The problem, as they see it, is that initial budget projections of major legislation—like those crafted by the Congressional Budget Office (CBO)—fail to take into account potential economic consequences. When the CBO said that the bill would add…

The blatant hypocrisy of Republicans pushing Trump’s “Big Beautiful Bill”

WIZMnews.com It’s funny how Republicans in Congress want it both ways. The fight in Washington right now is how to make the One Big Beautiful Bill Act a deficit reducer, because that’s the banner the GOP is waving — at least these days. A new report, however, from the Congressional Budget Office, shows the bill will actually add $2.8 trillion to the deficit over the next decade. That’s almost $400 billion worse than the initial estimate. And wh…