National Debt

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X @The Economist
The Economist· 2025-07-06 17:20
“Checks and Balance” assess the implications of the big bill:🎧 How it will explode the national debt🎧 Comparing the process Congress used with how it was once done🎧 What the GOP prioritises, and what that means for its supportershttps://t.co/AdPFBS7DTp ...
X @Elon Musk
Elon Musk· 2025-07-06 07:59
RT Mario Nawfal (@MarioNawfal)ELON: OUR NATIONAL DEBT IS A DISASTER“What really matters is that government spending is not far in excess of government revenue.That's a fundamental issue that we have where we have a deficit of $2 trillion and we have interest payments that now exceed the entire budget of the military.In fact, that was a big wake-up call for me was when the amount of money that we pay in national debt interest exceeded the Defense Department budget.And the Defense Department budget is very bi ...
X @Cointelegraph
Cointelegraph· 2025-07-04 06:00
⚡️ UPDATE: Kalshi users predict the US national debt will reach $40 trillion this year. https://t.co/S1rF0N1TkC ...
The Last Word With Lawrence O’Donnell - July 3 | Audio Only
MSNBC· 2025-07-04 04:15
Healthcare & Policy - The Republican bill is projected to cause 17 million Americans to lose healthcare coverage [2][9][37] - The bill is expected to devastate nursing homes and cut nutrition assistance for poor children [2] - The legislation could lead to the closure of rural hospitals, affecting healthcare access for entire communities [2][23][24] - Medicaid covers 40% of births, especially in rural areas, and cuts will worsen existing mortality penalties in rural America [41] - The Affordable Care Act (ACA) is 15 years old, and Medicaid is 60 years old this year [34][35] Political Dynamics - House Republicans voted 218 to 214 to approve the budget bill, despite initial criticism from the Freedom Caucus [9] - Concerns were raised by Republicans about the bill's impact on the deficit and its failure to adhere to budget deal terms [5][7] - The bill includes the largest Medicaid cuts in history [19] - Democratic Leader Hakeem Jeffries spoke for 8 hours and 45 minutes, setting a record for the longest House speech, to oppose the bill [16] - The bill is characterized as the largest upward transfer of wealth in American history [52] - Congressman Ro Khanna stated that crossing Donald Trump leads to political repercussions, influencing the bill's passage [55] - The bill is considered a massive giveaway to special interests [46] - A $4 trillion tax cut is included, which is seen as disproportionately benefiting billionaires [58][60][61] International Relations - Donald Trump had a phone call with Vladimir Putin, discussing Iran and the war in Ukraine, with no progress reported [69][70] - Putin's adviser stated that Trump and Putin are on the same page and that Russia does not want US involvement in peace talks with Ukraine [72][73] - The Trump administration is accused of withholding aid to Ukraine and easing sanctions against Russia [77] - Russia has massed 50,000 troops near the Ukrainian border city of Sumi [76]
‘Really bad’: Ex-Sen. Jon Tester says Republicans can’t defend this bill
MSNBC· 2025-07-04 00:57
Elections & Public Opinion - Public opinion and citizen action remain crucial despite challenges to institutions [1] - Elections still matter significantly, as seen in Wisconsin where voters rejected Elon Musk's interference and a 19th-century abortion ban was struck down [2] - The 2026 midterms are officially starting, and a controversial bill casts a shadow on Republicans [3] Legislative Analysis - A Republican-drafted bill is considered fundamentally flawed and poorly thought out [6][8] - The bill negatively impacts hospitals, especially in rural America, food security, and potentially climate change, while increasing the national debt [8] - The bill is perceived as giving a "big windfall" to Republican campaign donors [14] Political Strategy & Impact - Democrats see an opportunity to attack the bill and must also articulate what they stand for in areas like housing and education [18] - The bill's unpopularity could burden candidates like John Cornyn, Joni Ernst, and even Susan Collins, despite her vote against it [12] - Rural hospitals are particularly vulnerable and may close at a higher rate if the bill passes [10]
What YOU should know about Trump's megabill and the national debt
MSNBC· 2025-07-03 20:34
So, there we have it. Trump's big, beautiful bill, spending bonanza, got the votes it needed from Republicans in the House, and now it is making its way to the president's desk. So, what should you be prepared for.Well, the benefits of this bill will be like a sugar high. But I want you to know that usually when we rack up huge deficits, it's because we're in a crisis. Think COVID, World War II, the financial crisis.The government steps in, spends a lot in hopes of saving the economy. But this time, that's ...
BREAKING: The House votes to pass Trump's megabill
MSNBC· 2025-07-03 19:26
WHERE VAUGHN WAS TALKING ABOUT. SO I SPENT A LOT OF TIME WITH HIM ON THE CAMPAIGN IN. >> THE CHAMBER.RIGHT NOW, I'M BEING TOLD. >> SO NOW YOU SEE THE SPEAKER ANNOUNCING THE FACT. >> THE MOTION IS ADOPTED.>> USA. >> USA, USA, USA, USA, USA, USA. >> WITHOUT OBJECTION, THE MOTION TO RECONSIDER IS LAID ON THE TABLE.>> AND LOOK, THIS IS HOW IT WAS GOING TO PLAY OUT. THEY'RE GOING TO DO A MOTION TO RECONSIDER, WHICH IS A PROCEDURAL STEP HERE THAT DEMOCRATS ARE GOING TO TRY TO SAY, HEY, WAIT A SECOND, WE DON'T WAN ...
Republicans scramble to pass Trump’s megabill as public support for bill plummets
MSNBC· 2025-07-02 21:02
After a nailbiter in the Senate, now Republicans in the House face their own pick your poison moment. At this hour, the House is at a standstill ahead of a final vote to pass Trump's sweeping domestic policy bill. Whether Republicans have the votes to pass it, that is an open question.Speaker Mike Johnson can only afford three Republican no votes given unified and unanimous Democratic opposition to that bill. Here's House Democratic Leader Hakee Jeff. That's what we are going to do.Show up today. Show up to ...
'Middle class gets completely screwed': Dem lawmaker SLAMS Trump's megabill
MSNBC· 2025-07-02 16:10
And now joining us is Democratic Congresswoman Angie Craig of Minnesota. She serves as the ranking member of the Agriculture Committee. Thanks so much for taking the time.We've talked about all these outside estimates that this bill will add trillions to the national debt, will result in millions of Americans losing healthc care coverage because of those Medicaid cuts. And listen to this. The Ale Budget Lab says if this bill is signed into law, the bottom 20% of earners would see a roughly 3% decrease in in ...
OMB Director Russell Vought responds to Elon Musk's criticisms of Trump's mega-bill
CNBC Television· 2025-07-01 20:50
Fiscal Policy & Budget Bill Overview - The Senate passed a budget bill with Vice President Vance's tie-breaking vote, now heading back to the House [1][2] - The administration aims to get the bill to President Trump's desk by the end of the week, emphasizing the importance of adhering to the President's timeline [2][3] - The bill represents the entirety of the first year's agenda for the President, marking a significant step forward not seen in 30 years [9] Disagreement on Fiscal Impact - The Committee for Responsible Federal Budget estimates the bill will add over $4 trillion to the national debt through 2034, exceeding the House-passed bill by $1 trillion [4] - The Office of Management and Budget (OMB) argues that external fiscal watchdogs are using artificial baselines by not assuming current tax relief [4][5] - Critics, including Elon Musk and some Republican lawmakers, express concerns that the bill will balloon the deficit and increase the debt [7][8] Mandatory Savings & Deficit Reduction - The bill includes $1.6 trillion in mandatory savings, which the OMB claims more than offsets additional tax relief and spending, resulting in net deficit reduction [6] - The $1.6 trillion in mandatory savings is described as historic, more than doubling the $800 billion seen in 1997 [6] - The administration emphasizes the bill's fiscal responsibility, citing border security, defense spending, and tax relief [9]