UNI88 wrote: ↑Wed Jun 04, 2025 10:10 am
Trump tax bill will add $2.4 trillion to the deficit and leave 10.9 million more uninsured
President Donald Trump’s big bill making its way through Congress will cut taxes by $3.75 trillion but also increase deficits by $2.4 trillion over the next decade, according to an analysis released Wednesday by the nonpartisan Congressional Budget Office.
The CBO also estimates an increase of 10.9 million people without health insurance under the bill by 2034, including 1.4 million who are in the United States without legal status in state-funded programs.
There's the answer to the question of how many of those losing coverage are illegal immigrants - 1.4 million out of 10.9 million. That leaves 9.5 million with status.
National Debt
Bush 8 years: 5.7 to 10.6 trillion
Obama 8 years: 10.6 to 19.9 trillion
Trump 4 years 19.9 to 27.7 trillion
Biden 4 years 27.7 trillion to 36.2 trillion
So under Biden it went up 8.5 trillion in 4 years, 2.1> trillion a year. The CBO’s 2.4 trillion over a decade is a little more than 1 year under Biden. It’s an avg over 10 years of .24 trillion (240 billion) a year. That’s about 6-7 tenths of 1% increase on avg per year over a decade. That would be the lowest $$$ amount increase and % wise since 2000.
Also, the CBO I heard doesn’t factor in tariff revenue.
Also the CBO has been known to be way off in there predictions before.
Also get ready for the new word of the year recesion packages.
Now I wish there was actual cuts as opposed to slowdowns in the rate of growth. Now if there’s not close to a balanced budget in 2028 that will factor into the 2028 elections.