The Congressional Budget Office estimated that if the House bill were to pass as written, the deficit would increase by almost $3 trillion.
Historically, bond investors more or less swallow the debt the U.S. government takes on, but this time they may be less inclined to do so.
Republicans have a slim majority in the House of Representatives — and those from liberal states could throw their weight around.
The new administration hopes that energy dominance and government efficiency can bring down borrowing rates.
The Trump administration said the tax cuts would pay for themselves, but according to a study “that’s just not true at all.”
The US government is $36 trillion in debt. But who is owed all that money?
Trump promised tariffs on Day One. None have been announced so far.
The Department of Government Efficiency, aka DOGE, is a task force Trump has appointed, headed by Elon Musk and Vivek Ramaswamy. It has some lofty resolutions for its stated goal of cutting wasteful government spending.
The options on the table: cut spending, default on the national debt, raise the ceiling — or eliminate it altogether.
But this time may be different. One theory is that weaker data allowed companies to prepare and soften the economic landing.
