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CBO: $3.8 Trillion Deficit from Controversial Bill

5/22/2025

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Summary

Story summary

The Congressional Budget Office warns that the One Big Beautiful Bill Act could balloon the federal deficit by $3.8 trillion by 2034, favoring the wealthy while slashing $700 billion from Medicaid and $267 billion from food stamps. Despite these alarming figures, Republican representatives Blake Moore and Burgess Owens stand firmly behind the bill.

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Story summary

The Congressional Budget Office warns that the One Big Beautiful Bill Act could balloon the federal deficit by $3.8 trillion by 2034, favoring the wealthy while slashing $700 billion from Medicaid and $267 billion from food stamps. Despite these alarming figures, Republican representatives Blake Moore and Burgess Owens stand firmly behind the bill.