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It’s finally passed and heading for President Trump's desk for signature. The recissions package has made it over the finish line in a 216-213 vote in the House. It had to be bounced back from the Senate, which passed it on a 51-48 vote, as the upper chamber had made slight adjustments to it during the vote-a-rama process. The GOP has slim majorities in Congress, but they’re getting the Trump agenda through. 216-213:House approved the Trump WH's 1st round of DOGE spending cuts, $9B in foreign aid & public broadcasting from previously approved funding by Congress. Republicans Fitzpatrick (PA) &...

House Speaker Mike Johnson said Sunday on Fox Business that Republicans plan to bring more reconciliation bills and rescission packages to the floor within the coming year to help President Donald Trump achieve his “America First” agenda. Host of “Sunday Morning Futures” Maria Bartiromo asked the Louisiana Republican about the party’s plans for the future, and Johnson said they’ve been setting up a framework for quite a while. “We’re implementing a playbook that we designed well over a year ago,” he replied. “About 15 months ago, we began this process, understanding and believing that we would win unified government, that...

The Big Beautiful Bill Act (BBBA) will add trillions of dollars to the national debt over the next decade. Elon Musk is right that this is a turning point for American citizens. It is now clear that neither political party has the will to enact a fiscally responsible budget or solve the debt crisis. Musk threatens to form a third party if Congress kicks this can down the road. The budget process is broken, as special interests continue to carve out their bits of a spoils system. Congress is not even willing to discuss reforms in Social Security and Medicare....

Krugman: This Austerity Craze Is Just Mind-Boggling--It's As If We WANT The 1930s To Happen Again Henry BlodgetJun. 17, 2010, 10:07 PM Paul Krugman continues to hammer away on the idea that the world's sudden lurch toward austerity will crush the recovery and send us tumbling back into recession. Suddenly, creating jobs is out, inflicting pain is in. Condemning deficits and refusing to help a still-struggling economy has become the new fashion everywhere, including the United States, where 52 senators voted against extending aid to the unemployed despite the highest rate of long-term joblessness since the 1930s. Many economists, myself...

Bidenflation is over. But if you feel like prices still aren't falling, you're not alone. Since Donald Trump took office, inflation has plunged from a Biden-era 5 percent to just 1.4%. This is actually below the Fed's target of 2%. Normally, at this point, the Fed would be trying to pump inflation since it's "too low." Of course, for the American people, 1.4% is not "too low." What they want is falling prices, as in take it back to pre-Biden prices. Will that happen? In short, no. Prices will never durably fall until we get rid of the Federal Reserve....

On Thursday, the United States House of Representatives narrowly passed the first rescissions package, which will eliminate billions in unnecessary spending by the federal government. The bill will now go to the Senate, where it requires only a simple majority to pass. This first rescissions package is said to cut $9.4 billion in spending.The House of Representatives passed President Donald Trump's $9.4 billion plan to claw back federal funds for foreign aid, PBS and NPR.The 214 to 212 vote was mostly along party lines, with no Democrats voting for the bill. Four Republicans voted against the measure, however – Reps....

White House Deputy Chief of Staff Stephen Miller addressed claims there’s “pork” in the One Big Beautiful Bill, telling Salem radio host Charlie Kirk such rumors are false. "There’s no pork in the bill," he said. "The bill has been public for weeks. Every single provision is just one campaign pledge, one promise, one campaign vow after another. The only new spending in the bill is to secure the homeland of the United States and save American sovereignty — fully paid for, by the way, by increased visa fees on foreigners."He explained further:The 2017 Trump Tax Cuts were rightly hailed...

Former Sen. Larry Pressler (R-S.D.), who was the first Vietnam veteran to serve in the United States Senate, is the latest Republican to back Sen. Barack Obama's presidential campaign, Politico learned Sunday. Pressler, who said that in addition to casting an absentee ballot for Obama he'd donated $500 to the Illinois senator's campaign, cited the Democrat's response to the financial crisis as the primary reason for his decision. "I just got the feeling that Obama will be able to handle this financial crisis better, and I like his financial team of [former Treasury Secretary Robert] Rubin and [former Federal Reserve...

Let’s face it, no one expected Trump’s “Big, Beautiful Bill” to be perfect. But for Elon Musk to adopt the intransigent position that the work of government should stop in its tracks in pursuit of perfection is a manifest nonsense. Especially when considering OMB chief Russ Vought’s explanation of how the bill helps reduce the deficit. Musk has a habit of failing to see the wood for the trees. He’s been a long-standing backer of China, which my website has reported on for years. He supported DeSantis, not Trump, in the primary. He recently tried to depose Brexit leader Nigel...

PULSE POINTS:❓What Happened: The Office of Management and Budget (OMB) says its analysis of President Donald J. Trump’s “One Big Beautiful Bill” finds the legislation introduces historic fiscal reforms, achieving $1.7 trillion in mandatory savings and reducing the deficit by $1.407 trillion. This analysis contradicts a fiscal score released by the Congressional Budget Office (CBO) that claims the bill would increase the deficit by $2.4 trillion.👥 Who’s Involved: President Donald J. Trump, the Congressional Budget Office (CBO), the Office of Management and Budget (OMB), OMB Director Russ Vought, Elon Musk, and the U.S. Congress.📍 Where & When: The OMB’s top-line...

“The (puny) ask: Elon Musk recently criticized the GOP’s “massive spending” reconciliation bill, which he says “undermines” the savings DOGE has found. White House deputy chief of staff Stephen Miller responded that Musk was wrong to expect reconciliation to lock in DOGE work, saying that the proper tool was rescission. “So where are the lock-ins? DOGE says it has identified some $180 billion in savings, though Congress needs to approve many of the grant cancellations and other clawbacks. “Yet the White House rescissions request is for a mere $9.4 billion—out of annual discretionary spending of $1.6 trillion. This (supposedly) cost-cutting...

I was under the illusion that with Donald Trump back in charge and the wind at his back Washington Republicans might actually take off the gloves and say eff-it and take on the swamp. With the failures inherent in the Big Beautiful Bill, it appears I was wrong. I don’t blame Trump. This abysmal betrayal of the American people was written in the halls of Congress… The Republicans in Congress talk a good game, but when it comes to actually doing what they say they’re going to do, it turns out they’re really snake oil salesmen. Not that this is...

@elonmusk I’m sorry, but I just can’t stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it

The Big Beautiful Bill is 1,100 pages. Massive. The arguments for and against are deafening. And all miss the point.“So here’s the thing. Despite all the spending cuts, the Beautiful Bill still increases the federal deficit by $3.8 trillion over 10 years, according to the Congressional Budget Office.”—Lawrence Wilson, The Epoch TimesConclusions based on principle, if that principle is forged on the bedrock of eternal truth, blow away petty arguments, which fall away like chaff.Prior to our nation’s inception, the masses were taught that the divine spark resides in a pharaoh, a pope, a monarch. In the world of politics...

I was under the illusion that, with Donald Trump back in charge and the wind at his back, Washington Republicans might actually take off the gloves, say eff-it, and take on the swamp. With the failures inherent in the Big Beautiful Bill, it appears I was wrong. I don’t blame Trump. This abysmal betrayal of the American people was written in the halls of Congress.The Republicans in Congress talk a good game, but when it comes to actually doing what they say they’re going to do, it turns out they’re really snake oil salesmen. Not that this is new. Remember...

What’s really in the Big Beautiful Bill? Depending on who you listen to, the Big Beautiful Bill (BBB) is either an incredible piece of legislation that will codify tax cuts while also unleashing growth and reducing the deficit, OR it’s just another 1,000+ page of pork that maintains the status quo of overspending/ growing the deficit/ increasing the debt. The problem with this situation is that the people pushing these claims are either A) individuals who HATE the President and his agenda or B) individuals who work for the Trump administration and so have a vested interest in getting the...

Friday, in a clip that aired on MSNBC’s “Morning Joe,” Sen. Ron Johnson (R-WI) said President Donald Trump’s so-called “Big Beautiful Big” was unacceptable in its current form, as passed by the House of Representatives. Johnson told a reporter on Capitol Hill, “I couldn’t care less if he’s upset. I’m concerned about my children, my grandchildren, and the fact that we are stealing from them. We are stealing from our children and grandchildren. $37 trillion in debt, and we’re going to add to it as Republicans? That is unacceptable.” He added, “And that’s why there’s no way I’m going to...

As we keep warning… a debt crisis is coming.The first round appears to be striking Japan, which is the grandfather of monetary insanity. Japan first introduced Zero Interest Rate Policy (ZIRP) and large-scale Quantitative Easing (QE) programs nearly a decade before the Fed or other major central banks introduced similar policies. As a result of its near-nonstop interventions running for 25+ years, Japan’s Debt to GDP is over 200% and its central bank’s balance sheet is equal to 90% of the country’s GDP.As I noted yesterday, Japan finally appears to be losing control of its debt markets. Yields on the...

Billionaire investment manager Ray Dalio has warned that the risks of US debt go beyond credit ratings amid the US government's mounting debt in the current economic scenario. The founder of one of the world's largest hedge funds said that regarding the US debt downgrade, credit ratings understate risks because they rate the risk of the government not paying its debt. According to Dalio, credit rating agencies do not include the greater risk that countries in debt will print money to pay their debts, thus causing bondholders to suffer losses from the decreased value of the money they are getting...

Now you know why Trump is so eager to cut wasteful spending! The real mystery is why Democrats and RINOs are so determined to continue wasteful spending and not cut taxes. Trump inherited a fiscal disaster from Biden and Congress. Not to mention The Federal Reserve. Credit default swaps (CDS) for the USA are near Greece (and China) levels. ... Since Covid struck in 2020, US debt is up a staggering 56% ... And M2 Money is up 40% since Covid.