Economist issues dire warning over ‘Big Beautiful Bill”
WASHINGTON (Gray DC) - According to a report released Wednesday by the non-partisan Congressional Budget Office, the so-called “Big Beautiful Bill,” could cause 11 million Americans to lose healthcare coverage.
It would also inflate our already bloated national debt by 2.4 trillion dollars.
“You know, this year the government will spend 7 trillion and raise 5 trillion in taxes,” said Chris Edwards with the CATO Institute.
“That’s like someone with $50,000 a year salary spending $70,000 every year and putting 20 grand on a credit card. You know, you can you can see that’s not going to last forever.”
Edwards explains that unless lawmakers balance the budget, we’re careening toward catastrophe.
“It could lead to a big economic or financial crisis which would cause high inflation, high interest rates. You know, mortgage rates would go up. Borrowing rates for small business would go up and cause a recession.”
One of the areas Republicans are looking to cut, is healthcare.
“A bill that gives more tax breaks to billionaires and corporate special interests paid for by trillions being added to the national debt, paid for by taking health care coverage away,” said Senator Maggie Hassan (D-NH) at a news conference Wednesday.
“Medicaid can be the difference between life or death for people and families.”
The bill is being worked on in the Senate, with a tentative deadline of July 4th.
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