Trump Bill Piles On Trillions in New Debt

Thursday, July 03, 2025

The House passed Senate Republicans' version of the reconciliation package on Thursday 218-214 in a largely party line vote. Only two Republicans joined Democrats and voted against the bill -- Reps. Thomas Massie (R-KY) and Brian Fitzpatrick (R-PA). The so-called "big beautiful" bill will make President Trump's tax cuts permanent, slash the social safety net, add trillions to the national debt, cut clean energy incentives and substantially bolster the administration's sweeping mass deportation agenda.

Posted by retort at 06:45 PM | 59 COMMENTS | permalink

Comments

...

Trump Bill Piles On Trillions in New Debt ...

Quelle surprise.

He doesn't care if he is burdening future generations with debt, so long as he and his billionaire friends get tax cuts.

Just more grift from the Oval Office.

#1 | Posted by LampLighter at 2025-07-03 07:04 PM

Where the fiscal conservatives pushing back on this? Are there any left? Or is Elon the only one left?

Another aspect of this massive debt ...

Pres Trump has been giving Chmn Powell grief about not lowering interest rates.

Yet Pres Trump is requiring the US to borrow more, a lot more, A LOT MORE.

So, the basic economic rules of supply and demand apply also to US bonds ...

If you want more people to buy them, you have to lower the price. But, with bonds, when you lower the price the interest rates goes up.

So, Pres Trump's demand for Chmn Powell to lower interest rates, is that making it more difficult for the US to finance it's debt?

Add to that ... China, a major purchaser of US debt in the past seems to be backing off from those purchases, maybe even trying to sell the bonds it current owns.

Is China Engaging in Large-Scale Dumping of US Treasury Securities? (April 2025)
internationalbanker.com

... Speculation has persisted that China did not, in fact, "ignore" the Trump tariffs but instead dumped substantial quantities of its US debt holdings. "China may be selling Treasuries in retaliation," wrote Ataru Okumura, a senior interest-rate strategist at SMBC Nikko Securities in Tokyo, in a note to clients, as reported by Bloomberg on April 11. If so, China has an incentive to show "it won't hesitate to cause turmoil in the global financial market in order to improve its negotiating power against the US".

Yields also markedly rose overnight after US markets closed, when overseas markets were active. "These overnight spikes are more than just market noise. They may be the clearest signal yet that China is quietly -- but deliberately -- selling US Treasuries," Joel Shulman, the founder, managing director and CIO of EntrepreneurShares, observed in an April 9 article for Forbes. "And the implications could be significant for the US economy and financial markets."

When reviewing China's recent actions regarding its net US bondholdings"a period that has seen the country sell substantially more US Treasuries than it has bought -- one might be inclined to suggest that Beijing could be behind this latest bond-market rout. ...

Yeah, remember when Pres Trump TACO'd on his huge China tariffs within days?

Could the above be the reason?

imo, this does not not look like a happy outcome to me.

" Where the fiscal conservatives pushing back on this?"

Turns out they were never fiscal conservatives. They were partisan hacks.

These are the same folks who would be SCREECHING if Biden had suggested these deficits.

$100 billion for DHS.

There's only one reason they want or need that amount of money - we're about to live under constant surveillance and police harassment.

Democrats tax and spend

Republicans borrow and spend

MAGA spend and spend

we're about to live under constant surveillance and police harassment.
#5 | Posted by jpw

If you don't have anything to hide...

You won't mimd showing your papers and being detained without habeas corpus when the officer decides your papers are not valid.

"Where the fiscal conservatives pushing back on this?"

Where?

The Democrats have been pushing back on this since before the election.

That's where.

They've traded liberty for security.

And they call Liberals snowflakes.

Trump tax bill averts one debt crisis but makes future financial woes worse
www.reuters.com

... President Donald Trump's tax-cut and spending bill, which passed Congress on Thursday, averts the near-term prospect of a U.S. government default but makes America's long-term debt problems even worse. ...

Longer term, however, the bill has largely been seen as bad news for the U.S. bond market and the nation's fiscal health. It will add $3.4 trillion to the nation's debt over the next decade, nonpartisan analysts have estimated.

That would exacerbate concerns over additional bond supply and dwindling demand for U.S. Treasuries that have been a key driver of financial markets in recent months.

"The bill contributes to some of the structural concerns around Treasuries, with respect to No. 1, ongoing fiscal deficit and elevated debt levels, and No. 2, inflation," said Mike Medeiros, macro strategist at Wellington Management.

BlackRock warned on Monday that foreign buyers were already souring on American debt. There was a real risk that demand for the $500 billion in debt the U.S. issues every week will fall even more and push borrowing costs higher.

"We've been highlighting the precarious position of the U.S. government's indebtedness for some time now, and, if left unchecked, we view debt as the single greatest risk to the 'special status' of the U.S. in financial markets," BlackRock's investment managers said in a note. ...

"Government Efficiency"

Pepperidge Farms remembers.

As that idiot Boaz would say: "It's what the country voted for!!!"

So, STFU.

lol... he's "running" the nation like he "ran" his casino...

when this is over he'll be running for exile

What this bill will do is increase economic activity and raise many out of poverty and off of social services. Meanwhile, the mass deportations will save TRILLIONS over the next decade. This is the core difference between MAGA and Liberals. Liberals see a poor person and they want to help their situation by giving them some free ---- to alleviate their immediate suffering but do NOTHING for their long term plight. MAGA sees the same person and they want to give them an opportunity to work and live a productive life. One of these ways lifts people out of poverty and eliminates the need for government services. The other has the exact opposite effect.

Plus Record Military spending from the No War President... his MIC donors love him just like redneck rwingers do.

For different reasons, obviously. The donors because he makes them money, his Cult because he makes them feel important. Or interesting. Or smart or brave. All the things they aren't.

@#14 ... What actually CAUSES the deficit is out of control spending. ...

Do try harder.

What causes the deficit is spending that is more than the income.

Nothing more, nothing less.

What else yer got?

What this bill will do is increase economic activity and raise many out of poverty and off of social services

The same promise the right has always made when pushing their failed economic ideas and policies.

That's why the economy always goes to z%^* under a GOP POTUS after they're finished taking credit for the economy they inherited.

@#14 ... This is the core difference between MAGA and Liberals. Liberals see a poor person and they want to help their situation by giving them some free ---- to alleviate their immediate suffering but do NOTHING for their long term plight. MAGA sees the same person and they want to give them an opportunity to work and live a productive life. ...

Oh please.

MAGA sees that person, takes away healthcare and feeding of young, then gives trillions of dollars of tax reductions to billionaires.

Haven't you seen the tax bill?

"What this bill will do is increase economic activity and raise many out of poverty and off of social services"

LMAO!!!

How do you write this ---- without laughing?

#14 | Posted by ScottS

The Congressional Budget Office (CBO) is a nonpartisan agency respected by both parties for providing independent budget analysis. The federal deficit is driven by a combination of factors: rising spending on programs like Social Security, Medicare, and interest on the debt, as well as tax policy choices[1][2]. Both parties have contributed to these trends over the years.

Regarding mass deportations, multiple economic studies show they would actually shrink the economy and cost the government hundreds of billions of dollars, not save trillions[3][4]. Immigrants, including undocumented workers, contribute significantly to the labor force and economic growth[5]. Mass deportation would lead to labor shortages, higher prices, and a smaller GDP[3][4].

On poverty, research shows that targeted government aid, like the expanded child tax credit, has helped cut poverty rates dramatically in recent years[6]. The idea that helping people in need traps them in poverty isn't supported by the data; in fact, immigrant poverty rates fall faster than those of U.S.-born citizens as they gain a foothold in the economy[7].

Both parties have different approaches to spending and poverty, but the evidence doesn't support the claim that one side simply wants to give "free stuff" while the other only offers opportunity. The reality is more complex, and effective policy usually requires a mix of support and opportunity.

[1] bipartisanpolicy.org
[2] fiscaldata.treasury.gov
[3] www.americanimmigrationcouncil.org
[4] www.bakerinstitute.org
[5] www.migrationpolicy.org
[6] www.nytimes.com
[7] www.bls.gov
[8] www.heritage.org
[9] inequality.stanford.edu
[10] www.pgpf.org

MAGA sees the same person and they want to give them an opportunity to work and live a productive life.

He dips^%#, the vast majority of people on public assistance do work but need assistance to make ends meet.

You, like most of MAGA, have zero clue about the world around you because your primary goal is to amass stuff for yourselves.

It only costs 'trillions' because the CBO is a partisan band of --------. What actually CAUSES the deficit is out of control spending. So, if you Democrats really care about the debt - which you don't - you will now push for cuts in government spending. The fact that you won't do this just shows that you don't give 2 ----- about the debt unless it is the GOP in office. Democrats don't even want to cut MILITARY spending at this point as you can't wait to shovel more money into the Ukraine burn pit.
What this bill will do is increase economic activity and raise many out of poverty and off of social services. Meanwhile, the mass deportations will save TRILLIONS over the next decade. This is the core difference between MAGA and Liberals. Liberals see a poor person and they want to help their situation by giving them some free ---- to alleviate their immediate suffering but do NOTHING for their long term plight. MAGA sees the same person and they want to give them an opportunity to work and live a productive life. One of these ways lifts people out of poverty and eliminates the need for government services. The other has the exact opposite effect.

#14 | Posted by ScottS

Just puking out those MAGA talking points.

It amazing considering his mouth is constantly attached to Trump's ass.

"Plus Record Military spending from the No War President... his MIC donors love him just like redneck rwingers do.
#15 | Posted by Corky"

So, you support stopping funding to Ukraine and removing the US from NATO so we only focus on our own borders and national security? You don't want to support the fight against Russia anymore?

"What actually CAUSES the deficit is out of control spending."

What's the current spend on borrowing, and how much does the spend increase with new borrowing?

@#23 ... So, you support stopping funding to Ukraine and removing the US from NATO so we only focus on our own borders and national security? ...

Apparently, quite the usual lame deflection attempt by that current alias when it has been challenged ....

What else it got?

@#24 ... What's the current spend on borrowing, and how much does the spend increase with new borrowing? ...

That's an excellent question, and one that seems to reflect, imo, Pres Trump's desire to reduce interest rates.

Squats is a front for that gutless coward Jeff, the tRump ----------.

Since the year 2000 (the famous Clinton 'balanced budget')

Year 2000
Spending: $1.8T
Revenue: $2.0T

Year 2024
Spending: $4.9T
Revenue: $6.8T

Spending Rate of Increase = 5.7%
Revenue Rate of Increase = 3.8%
Inflation = 2.5%

So, revenue has increased at a rate 52% higher than inflation - and you -------- think we have a revenue problem? Nope - the tax cuts did as promised - revenue grew at a rate 52% higher than inflation.

No, the problem is that spending has increased at a rate of 124% of inflation. WE HAVE A SPENDING PROBLEM!

Also, in comparison to the 1990's - spending increased at 3.4%, which was only 21% higher than inflation. If we would have continued the SPENDING PATH of the 1990's (spending grows 21% higher than inflation) - in total, we would have spending of $4.1T total and have a SURPLUS of ---------. We would have this regardless of the tax cuts. One would have to be an absolutely MORON to think our problems are due to the tax cuts and not runaway spending.

Donald Trump's Approval Rating Plummets With Republicans

This decline in Trump's approval rating among Republicans could signal growing dissatisfaction within the party's core supporters, which could weaken his influence over the GOP's direction and strategy. As the 2026 midterm elections approach, a faltering base could impact candidate endorsements, voter turnout, and overall party unity.

www.newsweek.com

"What's the current spend on borrowing, and how much does the spend increase with new borrowing?
#24 | Posted by snoofy"

Well, Biden managed the impossible - not only did he add $9T to the federal debt in only 4 years, he also managed to spark inflation so our cost of servicing the debt has also ballooned. Our interest paid on the debt was 1.25% in 2020 and is 2.5% for 2024. So, not only did Biden increase the cost of the 28T in debt he inherited by $350B in extra interest payments alone, he then added another $240B due to his insane $9T spending spree.

That is ~$600B in completely wasted spending as it goes straight to investors and yields the US taxpayers NOTHING.

@#28 ... WE HAVE A SPENDING PROBLEM! ...

No, we have a deficit problem.

The current deficit causes higher interest rates, that's a supply and demand thing, among other causes.

The problem is that the revenue taken in does not cover the spending. That is the deficit.

So, please explain how massive tax cuts to reduce that revenue coming in will help the deficit problem.

Yer up.

@#30 ... Biden managed the impossible - not only did he add $9T to the federal debt in only 4 years ...

Got a link for that?

"This decline in Trump's approval rating among Republicans
#29 | Posted by Corky"

MAGA does not support fighting wars on behalf of Israel. However, with any politician - you pick the one that most aligns with your beliefs. Trump does not perfectly align with mine but he is closer than any politician in my lifetime with Bill Clinton a close 2nd.

@#32

I found this one ...

www.washingtonpost.com (June 2024)

... Neither candidate has made debt reduction a priority while in the White House, according to research released Monday by the nonpartisan Committee for a Responsible Federal Budget. The debt grew by $8.4 trillion during Trump's first term, while Biden so far has added $4.3 trillion, according to the group. ...

What's yer current trolling Alias got?

Biden had to pay for Covid expenses that Trump increased by his bumbling fumbling stumbling reaction to the Pandemic. Which also cost an untold number of lives, btw.

But they weren't billionaires, so who cares?

"not only did (Biden) add $9T to the federal debt..."

What a riot.

Trump added $7.8 Trillion, and he didn't have to pay interest on Trump's debt like Biden had to pay.

"#34 | Posted by LampLighter"

Total Fed Government Debt on the day Biden took office was: $27.754T, however, this included $1T in cash that the Treasury pulled out in case there were tax disruptions due to Covid. So, the actual number was $26.754T. On the day Biden left office, the Total Debt was $36.214T and the $1T in cash had been spent. So, the total increase in debt by Biden was $36.2T - $26.8T = $9.4T in deficit spending by Biden. What, the Democrats never told you this?

Further, on the day Trump took office for the first time - total debt was $19.95T, and as noted above, net of the $1T in cash on hand, he left with $26.8T in debt. So, he increased debt by $6.85T (of which $3T was related to covid relief) so a net increase (outside of covid relief) of $3.85T.

For Biden, he increased debt by $9.4T and also had covid relief but it was only $1.8T. This, Biden increased debt (outside of covid) by $7.6T - or, ~2x the deficit produced by Trump. And - again - this was not due to revenue problems - it was due to Biden increasing spending to the leaves of 'covid relief' and then NEVER CUTTING A ------- DIME IN SPENDING despite being 2+ years beyond the end of covid.

"the debt grew by $8.4 trillion during Trump's first term"

I stand corrected.

ScottS is trying to say $9 trillion is HORRIBLE. But a number that rounds to $9 trillion with interest, is Trumpian!

The Cato Institute, hardly a liberal bastion, predicts a $6 trillion deficit.
www.cato.org

"ScottS is trying to say $9 trillion is HORRIBLE. But a number that rounds to $9 trillion with interest, is Trumpian!
#38 | Posted by Danforth"

It was not $9T ------- - even with $3T in direct covid related spending. Only a ------- such as yourself would not credit him for the $1T in cash on hand the US Treasury prepared. I gave the real numbers above - net of covid, Trump racked up $4T. Not great - but, roughly in line with Obama and 1/2 that of Biden's reign of fiscal terror.

But, if you want to discuss this more, I would be more than happy to kick your ass again on yet another topic as per our usual outcome.

#28 | Posted by ScottS

Hey dumbf(*&, you left something out of your post.

We wouldn't be accuumulting debt if your numbers were correct.

not only did he add $9T to the federal debt in only 4 years, he also managed to spark inflation so our cost of servicing the debt has also ballooned.

Interesting that you pay no mind to the $8T Trump added (which was a higher % increase than Biden's $9T and despite the GOP being the "party of fiscal responsibility") and the fact that inflation started well before any Biden policy could take effect.

STFU you dishonest pile of s(*&.

But, if you want to discuss this more, I would be more than happy to kick your ass again on yet another topic as per our usual outcome.

#40 | Posted by ScottS

Self-declared victories are never actual victories.

As you show every time you try to argue any topic here.

You're an intellectually vacuous pile of s(*&. What one would expect from a daddy's boy who even then went to a second rate school and congratulated themselves on their self-perceived awesomeness.

Since you don't mention your "ranch" anymore, I can only assume it went under because you're a stupid dumbs(*& who has no clue what you're doing.

"Interesting that you pay no mind to the $8T Trump added"

Again - Trump did not add $8T. He added about $7T and $3T of that was due to covid relief. He ran around the same deficit/year as Obama.

"which was a higher % increase than Biden's $9T
#42 | Posted by jpw"

Biden added $9.4T - and spurred massive inflation causing all future presidents to waste more money paying the higher interest rate on his debt. Even given credit for covid related spending, Biden takes on debt at 2x the rate of Trump.

"You're an intellectually vacuous pile of
#43 | Posted by jpw"

Which is why not a single one of you turds can ever point to a single number that I post that is wrong - right? That is why you just resort to emotion and never put up a fact based argument - right? Try harder -------.

As stated before for those -------- about "spending," I am of the opinion we should strip almost all entitlements except to those who truly need it (the elderly and those actually disabled). Cut tax breaks for the ultra wealthy, corporate gimmies etc. The savings from lack of spending on the lazy and surplus received from the revenue on taxes from the rich should be used to pay down our debt. Neither party is willing to do this because it's political suicide, but eventually we will have to face reality.

Again - Trump did not add $8T. He added about $7T and $3T of that was due to covid relief. He ran around the same deficit/year as Obama.

$7.8 trillion doesn't round down, sport.

And COVID relief was still money spent under Trump and the current Congress. Sorry your Texas Tech "education" didn't teach you basic math or civics.

#44 | Posted by ScottS

www.investopedia.com

Biden added about $8.5 trillion. Which is way too much.

However, he didn't cause inflation you stupid f*&^. Biden's COVID spending was half of Trump's.

Which you conveniently subtract for one but not the other.

You're nothing but a dishonest piece of s*&^.

Which is why not a single one of you turds can ever point to a single number that I post that is wrong - right?

We do constantly. Often with citations, which you conveniently never provide because you're pulling numbers out of your a&&.

That is why you just resort to emotion and never put up a fact based argument - right? Try harder -------.

#45 | Posted by ScottS

LOL go drive another ranch into the ground you worthless pile of s(*&. Without daddy you'd be nobody with nothing.