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Posted on 07/11/2025 3:57:58 AM PDT by Pete Dovgan
The Republican Congress and President Donald Trump just delivered a major victory to the American people by passing and enacting into law the historic One Big Beautiful Bill Act (OBBB). Predictably, liberal media outlets – led by CNN, MSNBC, the New York Times and the Washington Post – continue to insist the OBBB will add trillions of dollars to our national debt.
The truth – backed by both historical experience and robust economic analysis – is the exact opposite. President Trump’s OBBB will not only boost jobs and take-home pay for America’s working-class families. It will slash deficits by trillions of dollars even as its targeted expenditures will strengthen our national defense and secure our borders. As a bonus, OBBB will rapidly accelerate the deportation of millions of illegal aliens now stealing jobs from American citizens and driving down wages.
At the center of the Fake News misinformation storm is the Congressional Budget Office. For years, the CBO has been trapped in a stale left-wing Keynesian mindset and stubbornly committed to static scoring models that fail to grasp how real-world economies respond to bold, pro-growth policies. As someone who has witnessed President Trump craft his economic agenda from inside the West Wing, I can tell you firsthand: when you cut taxes, slash job-killing regulations, achieve energy dominance, defend America’s manufacturing base with tariffs and fight for fair trade, the economy doesn’t just inch forward – it takes off.
(Excerpt) Read more at foxnews.com ...
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Senator Rand, why do you not like the BBB?
The BBB will add a few trillion to the national debt. If the BBB wouldn’t, then there would be no need to increase the debt limit by so much.
Does the author really believe that?
If so, the author would not reason to object to a 20% surcharge on personal and corporate income tax if the national debt exceeds $42 trillion.
The Griffin plan for manufacturing would add about 1 million new jobs long-term.
Why so few?
Because most new manufacturing in the USA would be done by automated equipment.
One can walk down the aisles of Walmart and Home Depot and see how much stuff now made in China could be made and packaged by automated equipment in the USA.
Up a potentially legitimate point. A manufacturing job pays what percentage more than a non-manufacturing job? Hang on let me look that up.
Best we look at median rather than average. Medium pay in the US is $62K. Median pay for manufacturing jobs . . . $51K. It is less than jobs in total.
So, nope.
"How the CBO got it wrong again: Trump's economic bill set to generate trillions in surplus, not debt"
So in addition to being nominated for Nobel Peace Prize, Trump also deserves a nomination for Nobel Prize in Economics imo.
Yes, the Nobel Prize in Economics may be getting ahead of the actual results of Trump's policy. But hey, they gave a Nobel Prize for global warming alarmism regardless that there's still been no unprecedented climate problems imo.
Sadly, the Nobel Prize in Economics amounts to Trump cleaning up dirty government policies.
Sorry, voice to text on median.
We are at the nadir in manufacturing. When the repatriation increases wages will go up.
The CBOzo thinks a tax cut is spending that has to be paid for. How do you fight that kind of stupid?
Covid based economic problems and deficits belong, IMHO, two two groups:
China
CIA/Democrats.
It’s obvious that the CIA and the Democrats were involved in the Wuhan lab. It’s obvious that the CCP was involved in the Wuhan lab. It’s obvious that Covid didn’t come from bat soup. It came from the lab, everybody with a brain knows this. Don’t blame Trump for Covid or Covid related deficits, blame the CCP, CIA, and Democrats.
Congress IS the problem.
There is one party in Washington DC, they want your money and not your opinion.
We are at the nadir in manufacturing. When the repatriation increases wages will go up.
////////////////////////////////////////////////////////
Why would they? Well, wait, the wages for that job will certainly go up when the comparison is what that job paid in China, but there is zero reason to believe such jobs get a special pay raise in US locale year 3 vs US locale year 1.
Why would they? And if they did, doesn’t that mean an inflation explosion?
There is no magic. The jobs arrive. People want to do them. They will compete with robots. They will lose. Why would their pay go up when their competition is a robot?
Tax Cuts ALWAYS bring in more Revenue
Only about 6% of the cost manufacturing are wages paid for labor. It simply can’t push up costs radically.
I believe? Glory, halleluiah, I believe! I once was blind and now I see!
We don’t need to fix entitlements! That’s for chumps and fools! The structural deficit? Nonsense! Social Security, Medicare, Medicaid and debt service on a statutory glide path to consume 100 percent of federal revenues? More for the chumps and fools!
We’ll just outgrow it! I believe!!!!
Just like the socialists think they can solve the problem by confiscating the income and assets of a few hundred rich people, who will just be incentivized to work harder and increase federal revenues even more!!! They too believe.
[hack, cough]
Quick, pass the hopium pipe!!!
[puff, puff]
Ah, my vision is clear again. See road? Kick can. Repeat as needed. I believe!!!
Meanwhile, in the real world, either we hold the rate of growth of entitlement spending below the long term rate of growth of GDP, or we go bankrupt. Hopium smoke not allowed.
The key to get wages to rise is stopping all immigration for decades. We need wage inflation or we get a Marxist revolution.
Sounds reasonable, too small a segment to affect CPI or PCE.
But that doesn’t really have anything to do with competing against robots — which ensure manufacturing job pay remains about what it is now — which is at its median, a lower pay level than the general employment population.
The overall point being . . . politician speeches about manufacturing jobs being good paying jobs is once again, English instead of numbers. The current data says they pay less and so there is no beneficial effect on the deficit.
There are many national security reason to on shore production. Robotics are great as long as they are domestically engineered and made.
Oh, there is zero reason to oppose moving manufacturing back to the US.
The problem is Navarro wackos who think magical deficit number benefits appear from doing so. They don’t. They can’t. If you move the manufacturing to the US and derive national security benefits from that, you decrease your tariff income.
It’s a process that is doomed to deficit impact failure as a consequence of it being successful.
I think we have to be realistic. Step one is to actually pass a budget. Since Congress hasn’t managed to pass a budget in several years, the new bill is at least progress.
Step two is to do something about the kickbacks systems an payoffs in Washington DC and “throwing gold bars off the Titanic” after crashing it on purpose (Joe Biden). I believe DOGE is a good start.
Step three is on Trump. Don’t spend all of the money that is allocated. You don’t have to spend every dime Congress appropriates, it’s non-sense.
Step Four: and probably the single most IMPORTANT step is to eliminate or reduce the thing that the Federal Government spends the most money on. That is now INTEREST ON THE DEBT. Balance the budget, take in more revenue, fix the economy and interest rates decrease.
Step Five: Make sure people getting entitlements are entitled. Illegal aliens aren’t entitled.
We still have problems after above, consider cutting benefits or raising taxes.
I had problems in college with Economics. It seemed like my profs would lecture us on one thing, and common sense told me the exact opposite. I even went to one of my profs to try to get him to explain something to me once, and (no lie), he gets out the book and reads me something that made no sense at all. Took him forever to find what he needed. He didn’t understand the subject any better than me.
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