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What in the BBB increases the deficit?
Posted on 5/29/25 at 11:22 am
Posted on 5/29/25 at 11:22 am
No one seems to have the answer.
12
Posted on 5/29/25 at 11:24 am to BuckI
What does it matter
Posted on 5/29/25 at 11:29 am to j1897
It means a lot to taxpayers.
Posted on 5/29/25 at 11:31 am to BuckI
Isn't there pretty big defense spending increases?
Posted on 5/29/25 at 11:32 am to BuckI
The point is that it doesn't decrease the deficit enough, it cuts only (modestly) the growth of spending (~$160B per year, vs the ~$1.8T projected yearly deficits).
To put this into a more understandable context: you're adding $18,000 of debt to your credit cards every year because you can't stay away from the race track. Now you're losing "only" $16,400 and you consider that to be a huge win?
To put this into a more understandable context: you're adding $18,000 of debt to your credit cards every year because you can't stay away from the race track. Now you're losing "only" $16,400 and you consider that to be a huge win?
Posted on 5/29/25 at 11:33 am to Bard
quote:
The point is that it doesn't decrease the deficit enough, it cuts only (modestly) the growth of spending (~$160B per year, vs the ~$1.8T projected yearly deficits).
To put this into a more understandable context: you're adding $18,000 of debt to your credit cards every year because you can't stay away from the race track. Now you're losing "only" $16,400 and you consider that to be a huge win?
there is also this.
Posted on 5/29/25 at 11:33 am to BuckI
The deficit is 2 fricking trillion, anything other than substantially shrinking it is a total boomer disaster. Your poor grandkids.
Posted on 5/29/25 at 11:34 am to BuckI
quote:
“The Big Beautiful Bill is NOT an annual budget bill and does not fund the departments of government. It does not finance our agencies or federal programs. Instead, it includes the single largest welfare reform in American history. Along with the largest tax cut and reform in American history. The most aggressive energy exploration in American history. And the strongest border bill in American history. All while reducing the deficit.”
quote:
“The bill saves more than 1.6 TRILLION in mandatory spending, including the largest-ever welfare reform. A remarkable achievement. I’ve also seen claims the bill increases the deficit. This lie is based on a CBO accounting gimmick. Income tax rates from the 2017 tax cut are set to expire in September. They were always planned to be permanent. CBO says maintaining *current* rates adds to the deficit, but by definition leaving these income tax rates unchanged cannot add one penny to the deficit. The bill’s spending cuts REDUCE the deficit against the current law baseline, which is the only correct baseline to use.”
-The White House
May 28, 2025
Posted on 5/29/25 at 11:37 am to SlowFlowPro
quote:I wonder where that money is going?
Isn't there pretty big defense spending increases?
Posted on 5/29/25 at 11:38 am to BuckI
I dont think this is where wr will see that kind of work really done, that is going to "happen" when they try to codify the DOGE cuts and start addressing all of the spending they have identified that can be cut. We need DOGE to keep on finding all of the bad spending and than, god forbid congress do their job and stop the bleeding.
Posted on 5/29/25 at 11:38 am to rileytiger
quote:
“The bill saves more than 1.6 TRILLION in mandatory spending, including the largest-ever welfare reform. A remarkable achievement. I’ve also seen claims the bill increases the deficit. This lie is based on a CBO accounting gimmick. Income tax rates from the 2017 tax cut are set to expire in September. They were always planned to be permanent. CBO says maintaining *current* rates adds to the deficit, but by definition leaving these income tax rates unchanged cannot add one penny to the deficit. The bill’s spending cuts REDUCE the deficit against the current law baseline, which is the only correct baseline to use.”
That's a good way of saying we could have let some of the cuts expire and reduced the deficit further but we didn't so frick you
Posted on 5/29/25 at 11:38 am to BuckI
Well the status quo would have the TCJA tax cuts expire at the end of the year, so even just extending those “costs” about $4.6T over 10 years. We’re cutting $1.6T so the net deficit grows by around $3T over the next decade.
Pretty simple.
Pretty simple.
Posted on 5/29/25 at 11:39 am to SlowFlowPro
This moron still trying to equate this to a fiscal budget.
He also has no clue to the differences in the types of spending.
He ignores the recission packages to be voted on too.
In short He is a moronic few crew card carrying member.
He also has no clue to the differences in the types of spending.
He ignores the recission packages to be voted on too.
In short He is a moronic few crew card carrying member.
Posted on 5/29/25 at 11:40 am to BuckI
quote:
I wonder where that money is going?
To defense contractors that consistently rip off the taxpayers
That seems like the most obvious answer
Posted on 5/29/25 at 11:41 am to rileytiger
quote:
I’ve also seen claims the bill increases the deficit. This lie is based on a CBO accounting gimmick. Income tax rates from the 2017 tax cut are set to expire in September. They were always planned to be permanent. CBO says maintaining *current* rates adds to the deficit, but by definition leaving these income tax rates unchanged cannot add one penny to the deficit. The bill’s spending cuts REDUCE the deficit against the current law baseline, which is the only correct baseline to use
This is complete spin, but I get it.
The tax cuts COULD have been permanent, but congress and Trump had them sunset when passed in 2017.
Posted on 5/29/25 at 11:42 am to BuckI
It’s how they view the taxes. They were planning on the Trump tax cuts not being codified.
Posted on 5/29/25 at 11:45 am to Powerman
quote:
That's a good way of saying we could have let some of the cuts expire and reduced the deficit further but we didn't so frick you
If it wasn't already proven many times that lower taxes increase tax revenue, you would be right.
Posted on 5/29/25 at 11:47 am to j1897
quote:
The deficit is 2 fricking trillion, anything other than substantially shrinking it is a total boomer disaster.
Only certain cuts can be in a reconciliation bill, as has been stated multiple times. Complaining about cuts not being in the bill when they legally can't doesn't make sense. You're just complaining to complain.
Posted on 5/29/25 at 11:47 am to BuckI
the cbo will score it as increasing the deficit because the two biggest item's in trumps original tax bill which are the now 30k standard deduction, and the 2k child tax credit would be locked into place.
if allowed to expire the child tax credit goes back to $600 and phase out goes back to 100k-125k (currently 400k) and the standard deduction would come in at 17k
if allowed to expire the child tax credit goes back to $600 and phase out goes back to 100k-125k (currently 400k) and the standard deduction would come in at 17k
Posted on 5/29/25 at 11:57 am to BuckI
quote:
I wonder where that money is going?
I would refuse to approve an additional penny of defense funding over last years levels until Pete Hegseth himself releases a video explaining, in detail, the root cause of how every individual year for the last decade we have spent HUNDREDS OF BILLIONS more than China and Russia combined, but there is a constant garage of studies and reports that we are losing the race to China and they are an existential threat to the US.
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