Chip Roy's honest take on the BBB

[Billiejeens]

He's only started kissing Trumps ass (last 2 votes). He was being hammered by the Trump cancel culture, when Trump threatened to have him primaried. He'll come back around.

My god you are so fucking clueless.

 

[Billiejeens]

Stolen elections in those same states are why they don't hold it by more votes.

If only Elon had invented a time machine.

 

[Billiejeens]

No additional tax, cut spending.

Do they have the votes for that?

 

[leftwinger]

Do they have the votes for that?

Not DEM votes for certain. Look at the Board Stain here. They demand ....MORE TAX ON RICH....won't say how much or how. They also demand MORE SPENDING on POOR and ILLEGALS.

It is a disease. They don't understand basic 7th grade Arithmetic and cost of GOVT, cost of courts and lawyers and insurance etc.

 

[Billiejeens]

Not DEM votes for certain. Look at the Board Stain here. They demand ....MORE TAX ON RICH....won't say how much or how. They also demand MORE SPENDING on POOR and ILLEGALS.

It is a disease. They don't understand basic 7th grade Arithmetic and cost of GOVT, cost of courts and lawyers and insurance etc.

Right

So Republicans, even the Best Republicans,
Can only do so much.

Lindsey Graham gave a great explanation of why this bill is so important and how they plan to proceed

Occasionally Lindsey gets it together.

 

[Billiejeens]

Not sure its that big of a deal with married joint STD Deduction over $30K (since 2017 Trump tax fix)!

Most normal people (median home value, regular jobs) don’t have enough State tax + Property tax to exceed that?

The super rich in $10M houses and up will maybe itemize and get $10K more deduction?

It’s not a Tax credit, it is a deduction off gross income.

2028 law did change that
Big league

 

[leftwinger]

Right

So Republicans, even the Best Republicans,
Can only do so much.

Lindsey Graham gave a great explanation of why this bill is so important and how they plan to proceed

Occasionally Lindsey gets it together.

To tell the truth I am still confused on how much they are proposing to spend per year? Is it business as usual - $160B in cuts?

Typical Obiden deficit - cuts ($1.8T) down to ~$1.6T? But kyzr says "the new deficit will only be ~$280B per year in total? Something does not add up for me? Not to spam the board but. Even some of the cut/paste appears wrong. I turn it blue. I blow up good stuff at end.

LOL! Now I see what Trump did. BBB "BIG BEAUTIFUL BILL" is the same as BBB "BUILD BACK BETTER".
************************************

A significant new bill that could impact the US deficit in 2026 is the One Big Beautiful Bill Act (OBBBA), passed by the House of Representatives.
Here's how it's projected to affect the deficit, according to the Congressional Budget Office (CBO):

• Increased Deficit: The CBO estimates that the OBBBA would increase the deficit to 7.0 percent of Gross Domestic Product (GDP) by 2026, compared to a current law projected level of 5.5 percent.
• Long-term Debt: The bill is projected to add over $2.4 trillion to primary deficits over ten years, with interest costs increasing the total debt to nearly $3 trillion by Fiscal Year (FY) 2034. don't they mean increasing new added debt?
• Temporary Provisions: If the temporary provisions within the bill are extended permanently, the debt increase could be even larger, potentially reaching $5 trillion by FY2034.

Key drivers of the deficit increase:

• Tax Cuts and Spending: The OBBBA includes approximately $5.3 trillion in tax cuts and spending, partially offset by around $2.9 trillion in revenue increases and spending cuts.
• Ways and Means Committee Proposals: Policies from the Ways & Means Committee are estimated to increase deficits by $3.8 trillion.
• Temporary Provisions: The bill significantly front-loads costs and back-loads savings by including temporary tax breaks and spending increases that are set to expire, mostly in 2028 or 2029.

Note: The White House has countered the CBO projections, arguing that extending current tax rates (which this legislation does) has zero impact on the deficit. They also highlight potential deficit reduction from increased tariffs and discretionary spending cuts.

 

[leftwinger]

A Picture worth 1000 words (but for GOVT pictures). Graph shows ~1.5% rise in deficit each year? Does not sound so bad? OH? I see percentage of GDP ($27.72T 2023)
0.015*27.72T = $0.416T additional? That would put it deficit over $2T total in 2026. No wonder some are screaming loudly.
But............tariffs would wash out any increase? But the Creepy says "but WE have to pay those tariffs in additional cost for our
Chinese dildo"!

Current law? That is with tax cuts expiring? But then the GDP will tank. Lawdy lawdy lawdy. Mac&Cheese claims to be in finance but he never helps out but for bashing Trump with TDS stage 5.

Bottom line: Glad I am not President. Improved GDP will wash it all out quickly I would think? But that chart shows a fixed GDP? huh? still makes little sense. I trust in Trump pro-business policy. To get things headed the right direction.

 

[Billiejeens]

And obviously forgot it 5 minutes later.

In what way?

 

[YoursTruly]

My god you are so fucking clueless.

The Trump Cancel Culture is real. Whether you Trump loyalist will admit it or not.
Just look what they did to DeSantis.

 

[kyzr]

To tell the truth I am still confused on how much they are proposing to spend per year? Is it business as usual - $160B in cuts?

I think you are referring to the DOGE cuts here? Now about $180b and still rising.

Typical Obiden deficit - cuts ($1.8T) down to ~$1.6T? But kyzr says "the new deficit will only be ~$280B per year in total? Something does not add up for me? Not to spam the board but. Even some of the cut/paste appears wrong. I turn it blue. I blow up good stuff at end.

Using the CBO scoring, the 10-year add to the debt was $3.8T, and recently reduced to $2.8T after considering tariff revenue.
This $2.8T debt add over 10-years is actually a $280b a year budget deficit.

A significant new bill that could impact the US deficit in 2026 is the One Big Beautiful Bill Act (OBBBA), passed by the House of Representatives. Here's how it's projected to affect the deficit, according to the Congressional Budget Office (CBO):

• Increased Deficit: The CBO estimates that the OBBBA would increase the deficit to 7.0 percent of Gross Domestic Product (GDP) by 2026, compared to a current law projected level of 5.5 percent.
• Long-term Debt: The bill is projected to add over $2.4 trillion to primary deficits over ten years, with interest costs increasing the total debt to nearly $3 trillion by Fiscal Year (FY) 2034. don't they mean increasing new added debt?

Yes it adds to the debt. I like tracking dollars, not percent of GDP. Rating agencies like Moody want to see less borrowing. One way is for the top rate to be 40% like Trump wants. That would add at least $500b to revenue. WhatI don't know is what happens to the interest on the debt. Janet Yellen messed up when she used short term bonds instead of long term bonds when interest rates were very low. I think that is why Trump wants to dump Powell because he won't lower interest rates, which may be the cause of higher interest payments, currently $1.1b a year.

• Temporary Provisions: If the temporary provisions within the bill are extended permanently, the debt increase could be even larger, potentially reaching $5 trillion by FY2034.

Key drivers of the deficit increase:

• Tax Cuts and Spending: The OBBBA includes approximately $5.3 trillion in tax cuts and spending, partially offset by around $2.9 trillion in revenue increases and spending cuts.
• Ways and Means Committee Proposals: Policies from the Ways & Means Committee are estimated to increase deficits by $3.8 trillion.
• Temporary Provisions: The bill significantly front-loads costs and back-loads savings by including temporary tax breaks and spending increases that are set to expire, mostly in 2028 or 2029.

Note: The White House has countered the CBO projections, arguing that extending current tax rates (which this legislation does) has zero impact on the deficit. They also highlight potential deficit reduction from increased tariffs and discretionary spending cuts.

True, but the interest on the $36T debt is exploding, so we need to get to a $2T a year surplus to start paying down that $36T debt, with $1T a year in interest only.