All articles tagged with #deficit increase
Economists warn that the significant increase in the US federal deficit due to Trump's tax and spending bill could lead to dangerous economic consequences, including higher interest rates, reduced government flexibility in crises, and potential a doom loop of rising debt and interest costs, threatening long-term economic stability.
The Congressional Budget Office's new dynamic score estimates President Trump's budget bill could increase the US deficit by up to $2.8 trillion over a decade, with debates ongoing about its economic impact and fiscal implications.
The article explains the complexities and potential impacts of President Trump's proposed spending bill, which aims to extend tax cuts, increase defense and immigration spending, but could significantly raise the US deficit, reduce health coverage for millions, disproportionately benefit the wealthy, and impose new taxes on remittances, with ongoing political disagreements about its passage.