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Message
OMB: Big Beautiful Bill to Cut $1.4T From Deficit
Posted on 6/8/25 at 10:37 am
Posted on 6/8/25 at 10:37 am
OMB: Big Beautiful Bill to Cut $1.4T From Deficit
quote:
In the memo, the OMB, headed by its Director Russell Vought, a vocal proponent of the One Big Beautiful Bill, or OBBB, wrote:
"On its own, the OBBB reduces the deficit by over $1.4 trillion. Net mandatory savings of $1.7 trillion are partly offset by increases in one-time spending to finally and fully secure the border to defend our Nation from invasion, and to lower taxes from policies such as no tax on tips or overtime that are partly offset with loophole closers in the tax code."
https://www.newsmax.com/newsfront/big-beautiful-bill/2025/06/07/id/1213992/
16
Posted on 6/8/25 at 10:39 am to Auburn1968
Office of Management and Budget or Orange Man Bad?
Posted on 6/8/25 at 10:40 am to Auburn1968
That can’t be right. MSNBC told me that it’s adding $8 trillion to it. I am very confused now
Posted on 6/8/25 at 10:42 am to Auburn1968
No coincidence that the rioters are sent out as Trump tries to get it over the finish line
Posted on 6/8/25 at 10:42 am to FLTech
I’ve been told by “Trump voters” that Trump is wrong 
Posted on 6/8/25 at 10:46 am to Bestbank Tiger
quote:
Office of Management and Budget or Orange Man Bad?
Not gonna lie. I read it as Orange Man Bad at first.
Posted on 6/8/25 at 10:47 am to Auburn1968
Someone should probably let Elon know…
Posted on 6/8/25 at 10:57 am to Auburn1968
I respect Trump supporters who differ from me. I believe in limited government, but also that defense and maintaining our borders are among the few true roles of government so I’m ok with spending in those areas. I am wary of the military industrial complex but I believe in a strong military that is ideally never used and I think our military has been neglected and has fallen behind where we should be technology-wise through the Obama years especially.
Posted on 6/8/25 at 11:02 am to Auburn1968
If it cuts so much why did we need to raise the debt ceiling so high?
Posted on 6/8/25 at 11:50 am to oklahogjr
quote:
If it cuts so much why did we need to raise the debt ceiling so high?
As always it depends on the definition of "cut". I've seen cases where a reduction in the amount of annual increases is called a cut.
Start measuring how those kind of cuts actually decrease deficits and we'll also talk ghost and vampires and werewolves and bigfoots and all other kinds of make believe.
Posted on 6/8/25 at 11:53 am to Auburn1968
The OMB is underneath the executive, they always come up with funny numbers to justify whatever the executive wants to happen with the budget.
Posted on 6/8/25 at 12:03 pm to Diego Ricardo
quote:
The OMB is underneath the executive, they always come up with funny numbers to justify whatever the executive wants to happen with the budget.
This is correct, Russell Vought works directly for Trump.
Chip Roy is on the House Budget Committee, voted in favor of the bill and he says that it adds to the deficit for the first five years and only then starts to reduce the deficit.
quote:
Let's be clear, it is a reduction of future increases of about $1.6 trillion dollars....Unless we have record economic growth for an entire decade, deficits will go up. This bill front loads all of the cost, so for the first four years deficits are up....if you look at our (BBB authors) analysis even assuming economic growth and more revenue from that growth, we will still have $400 billion of deficits added to the existing $2 trillion deficits in 2026 because of the bill. Those deficits will go up even more and be another $400 billion in 2027. '28 we add to the deficits, '29 we add to the deficits. Finally in 2030 deficits go down...Understand what I'm saying. The deficits of roughly $1.8 to $2 trillion a year will continue, this bill will adjust taxes and adjust spending, will increase deficits for 3 or 4 or 5 years, and then cut deficits in the outer 5 years if you believe that will ever happen. Only in this town do you assume the good things will happen in five years and accept the bad things in the first years...
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Posted on 6/8/25 at 12:05 pm to Auburn1968
More propaganda.
Posted on 6/8/25 at 12:07 pm to JoeHackett
Oooof
Posted on 6/8/25 at 12:25 pm to Auburn1968
quote:Just like the "Inflation Reduction Act" reduces inflation...
In the memo, the OMB, headed by its Director Russell Vought,
I do find it interesting that going back to (at least) Obama the OMB kept a webside with super detailed spreadsheets of historic spending, revenue, and debt going back to our founding and for a decade or so projected into the future. Seems to have disappeared in the last month.... odd, innit?
Posted on 6/8/25 at 12:29 pm to oklahogjr
quote:
If it cuts so much why did we need to raise the debt ceiling so high?
Because we have to fund the debt. The ceiling has to be raised no matter how much the conservatives cry about it or how much the democrats pretend to care about spending now.
If it doesn't happen now, then we will have to raise it in the future and the shitty democrats will demand some piece of shite legislation that will frick over the average American in exchange.
Only idiots can't recognize that the debt ceiling has to be raised, and it's better to do it now than to have the democrats stall the agenda in the future over it. Of course, the retarded conservatives can't see that far into the future, so they will join with democrats in their typical fashion.
Posted on 6/8/25 at 12:34 pm to Auburn1968
The deficit is decreased, the debt still increases.
Word games
Word games
Posted on 6/8/25 at 12:34 pm to Auburn1968
No tax on tips is so fricking dumb.
Remove that and we’re good.
And the service folks are going to regret this perk anyway… imagine the resentment on top of peak tip culture already.
A lot of people are going to dial back their generosity if they know it’s tax free. Which, maybe is a good thing in the long run- but still dumb policy
Remove that and we’re good.
And the service folks are going to regret this perk anyway… imagine the resentment on top of peak tip culture already.
A lot of people are going to dial back their generosity if they know it’s tax free. Which, maybe is a good thing in the long run- but still dumb policy
Posted on 6/8/25 at 12:34 pm to Taxing Authority
quote:
Just like the "Inflation Reduction Act" reduces inflation...
Lmao. Yep. But, if you’re still worried about the the spending in this bill, they will fix that too with the “muh rescission” bills
Posted on 6/8/25 at 12:34 pm to TenWheelsForJesus
quote:Quite the admission. There's a word for what happens when you're servicing debt, by borrowing more money.
Because we have to fund the debt.
quote:Jonh Boehner? Is that you? Or is it Paul Ryan?
Only idiots can't recognize that the debt ceiling has to be raised,
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