Republican legislation has been criticized by media outlets for its potential to slash deficits through economic growth, tariff revenue, and deportation measures while cutting taxes on tips and overtime. The One Big Beautiful Bill Act (OBBB) has been passed and enacted by the Republican Congress and President Donald Trump, marking a significant victory for the American people. Despite the positive developments, the liberal media continues to insist that the OBBB will add trillions of dollars to the national debt, a claim that the article disputes.
The article asserts that the OBBB will not only boost jobs and take-home pay for American working-class families but will also slash deficits by trillions of dollars. The targeted expenditures within the bill are expected to strengthen national defense and secure the borders. Additionally, the OBBB is projected to accelerate the deportation of millions of illegal aliens, who are accused of stealing jobs and driving down wages. The article criticizes the Congressional Budget Office (CBO) for being trapped in a left-wing Keynesian mindset and using static scoring models that fail to grasp the real-world economic responses to bold, pro-growth policies.
The Trump 2017 Tax Cuts and Jobs Act is presented as an example of how such policies can lead to unexpected outcomes. Despite the CBO’s initial projections of a return to a slow growth trend, the actual results saw a surge in real GDP growth. The article attributes the success of these policies to a combination of tax cuts, deregulatory measures, investment incentives, and trade policies. The CBO’s failure to account for these dynamic effects led to an inaccurate forecast of the OBBB’s impact. The article further criticizes the CBO for recycling flawed assumptions and for failing to accurately predict the potential revenue from tariffs, which the White House estimates could generate up to $2.8 trillion over ten years.
The CBO’s second attempt at a dynamic analysis was also criticized for frontloading the costs of the OBBB, which the article argues is an attempt to artificially inflate the early debt load and assume higher interest rates. This, according to the article, undermines the potential for growth and lower debt burdens. The article concludes that the CBO’s forecasts are ideological and designed to discredit a Trump-led growth agenda, which it claims has historical evidence of success. The OBBB is touted as a fiscally responsible bill that will reduce deficits, increase tax revenue, and fund initiatives such as no taxes on tips and overtime, a stronger national defense, and a more secure border.