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Follow the Committee for a Responsible Federal Budget for our latest analysis of what's shaping the fiscal conversation in Washington.
🔗crfb.org | 📲@BudgetHawks
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CRFB.org
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CRFB.org
@BudgetHawks
The Committee for a Responsible Federal Budget is a nonpartisan group of budget experts concerned about this nation's fiscal future. crfb.org/subscribe
- .@SteveRattner: "The tax cut, combined with an equally formidable new spending bill, is producing one of the biggest peacetime federal budget deficits. As low as $439 billion in 2015, the fiscal gap is now on track to exceed $1 trillion in 2020." nytimes.com/2018/12/31/opi…
- ➡️ We're working to estimate this – but this could add anywhere from $5 to $11 trillion to the deficit, depending on the details. That would require a lot of offsets: crfb.org/budget-offsets….
- “There was a time not long ago when many congressional Republicans demanded a budget that balanced within 10 years.”
- 🚨BREAKING: As it currently stands, the Senate reconciliation bill is likely to add $3.5 to $4.2 trillion to the debt through FY 2034, based on our estimates. That’s $500B to $1.5 trillion more than the House-passed bill. It will mean the Senate is likely out of compliance with
- 💰The government will spend $86 trillion over the next decade. 🪙And lawmakers are complaining about reducing spending by $2 trillion? That doesn't add up. ⤵️
- 🚨INSOLVENCY WARNING🚨 We estimate the One Big Beautiful Bill Act (OBBBA) would accelerate Social Security and Medicare insolvency by a year, to 2032. The bill would impact Social Security and Medicare indirectly, mainly by reducing the revenue collected from the income taxation
- We are in for a rude awakening.
- .@PeteButtigieg says @BernieSanders #Medicare4All would require an increase in payroll taxes. We find that’s right - it would require a new 32% payroll tax: crfb.org/papers/choices… #DemDebate
- How big is the federal debt? And where does all the money go? Test your knowledge and learn about #BudgetingfortheFuture futurebudget.org
00:00 - 🚨NEW: The House's reconciliation bill is estimated to add $3.3T to debt including interest, or $5.2T if temporary provisions are made permanent. But because new borrowing is front-loaded and offsets are back-loaded, the bill would add massively to near-term deficits – nearly
- The House GOP tax plan could add over $2 trillion to the debt -> crfb.org/blogs/house-ta…
- .@timkaine is right. Trump would increase debt much more than Clinton. #debates crfb.org/papers/promise… #debates
- 🚨BREAKING🚨 We published our summary of the House’s #BuildBackBetter Act. Read our summary here: crfb.org/blogs/whats-ho…
