Comment by smith7018
2 days ago
The Big Beautiful Bill will add $4.5 trillion to the deficit in the next decade. If we hadn't passed it, we could have continued learning about cosmic inflation _and_ helped millions of people regarding food and healthcare and still saved trillions in the process. Of course, America would never do that, but our current issue is no longer "we should be helping people instead of doing unnecessary spending." Now we're squarely in "let's starve everyone of resources and give it all to the 1%."
The BBB will add $4.5T (this is the largest estimate) in addition to the $15T-$20T that would have happened without the BBB
The debt would have been about $52T+, now it will be $56T+, if projections are accurate.
While I do not agree with the BBB for many reasons, and I do agree that it increases the debt, it is not the primary driver of the debt.
The largest driver of our debt is our "health" system. We spend $5T a year on our "health" system, which is twice the amount per capita that western European nations spend, and we have outcomes that are, across the board, worse.
We spend $2.5T more per year than we "should" be spending on "health", which is by far the largest waste of our resources.
If we would "simply" find a way to spend as much as western Europe does (even keeping our poorer outcomes), we would save $25T over the next 10 years. Our entire national debt could be eliminated in 20 years by doing this, even with the BBB.