Monday, August 04, 2025

CBO: 'Big Ugly Bill' Will Add $5 Trillion to the Deficit

The Congressional Budget Office (CBO) informed Senate Budget Committee ranking member Jeff Merkley (D-Ore.) in a letter Monday that the One Big Beautiful Bill Act, President Trump's signature domestic policy accomplishment, would add $5 trillion to the deficit over the next decade if its temporary tax relief provisions are extended for a full 10 years.

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"The CBO estimates that as a result, the total amount of federal debt held by the public would increase by 11.5 percentage points by the end of 2034.

"Each and every analysis from the nonpartisan Congressional Budget Office continues to show the same result regardless of how you look at it: this bill explodes the debt by trillions of dollars to fund tax breaks for billionaires," Merkley said in a statement.

"It is the height of hypocrisy coming from the party that claims to be fiscally responsible," he said."

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Wow! Trumpers really do love 'Murica!

Or at least the Oligarchs they pander for.

"The country is headed toward a single and splendid government of an aristocracy founded on banking institutions and moneyed incorporations and if this tendency continues it will be the end of freedom and democracy, the few will be ruling...I hope we shall...crush in its birth the aristocracy of our moneyed corporations which dare already to challenge our government to trial and bid defiance to the laws of our country.

I sincerely believe that banking establishments are more dangerous than standing armies."

- Thomas Jefferson

#1 | Posted by Corky at 2025-08-04 07:19 PM

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