A plan to cut $1.1 trillion over 10 years would likely add $3.3 trillion in deficits.
After much fanfare, the House GOP majority has released its latest 10-year budget blueprint. Up until now, Elon Musk and his Department of Government Efficiency (DOGE) have controlled Washington’s fiscal narrative with high-profile attempts to cancel government contracts, remove federal employees, and shut down the agency in charge of distributing international aid assistance. While DOGE has trumpeted its (unverified) claims of saving a few billion dollars here and there, the new House budget resolution would likely add $3.3 trillion to 10-year deficits. These costs will dwarf the largely symbolic DOGE budget savings and show a Republican government once again dramatically driving budget deficits upward.
Real tax cuts, gimmicky savings.
The Congressional Budget Office’s latest baseline projections show Washington running $21 trillion in budget deficits over the 2025-2034 period covered in the Republican budget proposal, pushing the federal debt held by the public from $29 trillion to $50 trillion. That rosy scenario assumes no wars, no recessions, low interest rates on the federal debt, and nearly unprecedented limits on discretionary spending.
Continue reading the entire piece at The Dispatch (paywall)
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Jessica Riedl (formerly Brian Riedl) is a senior fellow at the Manhattan Institute. Follow her on Twitter here.
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