The Scorekeepers Agree: Budget Bill Will Increase U.S. Debt by Trillions
The House recently passed the One Big Beautiful Bill Act, and fiscal scorekeepers are unanimous in their assessment that it would increase federal debt by trillions of dollars within 10 years. In fact, four independent policy organizations — the Budget Lab at Yale, the Congressional Budget Office, the Tax Foundation, and the Penn Wharton Budget Model — estimate that the bill would send the national debt soaring to more than $50 trillion.
The groups find that by 2034 the debt would reach:
· $52.3 trillion according to the Budget Lab at Yale
· $52.4 trillion according to the Congressional Budget Office
· $52.8 trillion according to the Tax Foundation
· $56.3 trillion according to the Penn Wharton Budget Model
Follow link to read more from the Peter G. Peterson Foundation. https://bit.ly/3FMRp1B