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Budget Watchdogs Warn: Debt Could Hit $50 Trillion

6/9/2025

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Summary

Story summary

Independent budget watchdogs warn that the One Big Beautiful Bill Act could push the U.S. national debt past $50 trillion by 2034, contradicting White House assurances. The Congressional Budget Office projects a staggering $4 trillion deficit. In response, Senate Republicans are considering spending cuts and creative accounting to reshape the bill, which prolongs tax cuts and raises the debt ceiling.

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Story summary

Independent budget watchdogs warn that the One Big Beautiful Bill Act could push the U.S. national debt past $50 trillion by 2034, contradicting White House assurances. The Congressional Budget Office projects a staggering $4 trillion deficit. In response, Senate Republicans are considering spending cuts and creative accounting to reshape the bill, which prolongs tax cuts and raises the debt ceiling.