*** Official GOP suddenly cares about the debt/deficits again thread ***

[Winehole23]

[Winehole23]

Republican smoke and mirrors

They are gonna blow up debt and deficit

A controversial plan by U.S. Senate Republicans to make President Donald Trump's 2017 tax cuts permanent by ignoring the cost to the deficit is raising warnings from party fiscal hawks and independent analysts of a potential "debt spiral" that could undermine economic growth.

Top Senate Republicans, including Majority Leader John Thune, are determined to make permanent tax cuts due to expire at the end of the year, through a parliamentary maneuver that bypasses Democratic opposition. Because rules prohibit bills from expanding the deficit beyond a 10-year window, they intend to ignore a projected revenue loss of more than $4 trillion by claiming that tax policy would remain unaltered.

https://www.msn.com/en-us/news/polit...ry/ar-AA1A5HKQ

[Winehole23]

underrated, and the novelty here, is Trump offsetting with a tax on US importers

a business tax

[Winehole23]

We’re Turning Down Free Money by Firing IRS Workers

Increased tax enforcement more than pays for itself. Republicans’ opposition to it is a signal that they don’t truly care about closing the deficit

https://www.bloomberg.com/opinion/ar...own-free-money

[Winehole23]

you can't balance the budget if you gut revenue collection during tax filing season

maybe that's not what Trumplandia is trying to do -- at all

The Trump administration and Department of Government Efficiency are proposing a dramatic downsizing of the IRS that would result in a nearly 20% reduction of its workforce by May 15 — one month after Tax Day in the United States.

President Donald Trump has ordered agencies across the federal government to turn in their “large scale” layoff plans — known as Reduction in Force, or RIF — by Thursday.

The details of the IRS proposal have been laid out in an email from DOGE and will be discussed at a meeting among agency leadership Thursday morning, according to a source familiar with the matter who asked to remain anonymous for fear of retaliation. The proposal has not been made public.

The latest round of layoffs would terminate nearly 6,800 employees — on top of about 6,700 probationary employees who have already been fired and 4,700 employees who took the “voluntary buyout” known as the “Fork in the Road” program from the Trump administration.

[/quote]https://www.cnn.com/2025/03/13/politics/doge-irs-workforce-cuts-downsizing

[Winehole23]

[Winehole23]

so much for balancing the budget or paying down the debt

borrow and spend Republican are fixing to blow up the deficit

[Winehole23]

with another huge tax giveaway to people who don't need one

on the backs of people who do

[Winehole23]

gutting the IRS blows up the deficit

Radical Republicans are like small children in their at ude toward the revenue side of fiscal balance

The Budget Lab estimates that the expansion of funding ($80 billion) for the IRS in the Inflation Reduction Act (IRA) would have led to a net revenue increase of $637 billion over the full 10-year budget window.² If the IRS shrinks by 50% (a workforce decrease of about 50,000 people),³ we estimate that this significant reduction in IRS staffing and resulting IRS capacity to collect revenues would result in $395 billion ($350 billion net) forgone revenue over the 10-year budget window.⁴ If the lack of IRS resources leads to a substantial increase in noncompliance, net forgone revenue could rise by $2.4 trillion over 10-years.

https://budgetlab.yale.edu/research/...ts-irs-funding

[Winehole23]

looks the plan is to wreck the income tax so Trump can replace it with business taxes

[Winehole23]

looks the plan is to wreck the income tax so Trump can replace it with business taxes

that he controls, naturally

[Winehole23]

The Post reports today that the IRS’ internal projections estimate that the DOGE-driven disruptions to the IRS since the inauguration are on track to have reduced tax receipts by more than $500 billion by April 15th. This, to be clear, is not a final tally. It’s not April 15th yet. It’s a projection based on historical data, the number of people who’ve filed, paid owed amounts of tax, etc. It’s worth taking a moment to put this number into some context in case half a trillion dollars doesn’t do it for you. Non-defense discretionary spending is the cost to fund the U.S. government once you take out mandatory spending (mostly Social Security, Medicare and Medicaid) and the cost of the U.S. military. For 2023 that number was $917 billion. So that’s most of the stuff we think of as the government, apart from those payment programs and the military. In other words, in about eight weeks DOGE managed to lose the U.S. government — more or less light on fire — more than half of what goes to all non-defense discretionary spending.

https://talkingpointsmemo.com/edblog...rs-for-the-usa

[velik_m]

Trump promises $1 trillion in defense spending for next year

President Donald Trump this week unveiled plans for a $1 trillion defense budget next year, a massive increase that he claimed will provide the country with unmatched military strength for years to come.

During a press event with Israeli Prime Minister Benjamin Netanyahu on Monday, Trump offered the outline for total defense spending in the fiscal 2026 budget as part of his larger plans for U.S. national security.

“We’re going to be approving a budget, and I’m proud to say, actually, the biggest one we’ve ever done for the military,” he said. “$1 trillion. Nobody has seen anything like it.

...

https://www.militarytimes.com/news/p...for-next-year/

[Thread]

https://www.militarytimes.com/news/p...for-next-year/

Well, it's gotta be that big, Little v. It must cover the defense of Israel and your Ukraine and Taiwan, and S. Korea, and all the other dead beat nations of the world who have been using our MIC since 1945...so they can use that extra money they save for things in their country like free health-care and free college for their citizens.

That old man is wrong here. WRONG!!!

[ChumpDumper]

All you Trump s can just shut the up about the debt and deficits forever.

https://x.com/SteveRattner/status/1909639895242485872

[Winehole23]

[Winehole23]

Trump looking to blow up the budget deficit

Again

[Thread]

Trump looking to blow up the budget deficit

Again

Shoulda thought about that when you tried to hide Biden the last 3 years. tee, hee.

[velik_m]

House GOP unveils plan to raise debt limit by $4 trillion

House Republicans are moving forward with plans to raise the nation’s debt ceiling by $4 trillion as part of a larger plan to advance President Trump’s tax agenda.

The proposal, which was included in legislative text unveiled by the House Ways and Means Committee on Monday, is in line with House instructions outlined in a blueprint adopted by congressional Republicans last month that kicked off the process by which the party is using to enact Trump’s tax priorities.

Including the debt ceiling in the broader bill will allow Republicans to avoid Democratic demands for concessions in exchange for their votes to raise the debt limit. But tacking debt limit action onto the same vehicle they’re using for Trump’s tax plans could also put a tight time crunch on Republicans to pass the sweeping tax bill.

Treasury Department Secretary Scott Bessent is already calling on Congress to raise or suspend the debt ceiling by July to keep the federal government from defaulting on its more than $36 trillion debt.

...

https://thehill.com/business/budget/...imit-increase/

[Trainwreck2100]

They're not paying for that tax cut

[Winehole23]

Kills Amercans, does not reduce the deficit

House Republicans pushed President Trump’s “big, beautiful” tax-and-spending bill past a key hurdle late Sunday night, but the last-minute grappling has them colliding with a stark reality: The plan won’t reduce federal budget deficits and would make America’s fiscal hole deeper.


The current proposal would increase projected budget deficits by nearly $3 trillion through 2034, locking in tax cuts and spending increases that outweigh reductions in spending on Medicaid and nutrition assistance. While Republicans, who have vowed to reduce red ink, say higher economic growth will fill the gap, budget analysts across the political spectrum have panned the Republican plan, warning that it worsens the U.S. fiscal picture.

ttps://www.wsj.com/politics/policy/tax-plan-budget-national-debt-analysis-e982207

[Winehole23]

[Winehole23]

trying to buy the votes of Texans by paying for Operation Lone Star

[Winehole23]

[Winehole23]

just passed in the House, now off to the Senate