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In a powerful exchange, Rep. Brendan Boyle challenged former hedge fund executive Dale Bessent over Republican-backed federal cuts that would gut healthcare for millions. Boyle pressed Bessent—formerly of George Soros’s fund—on his past rhetoric opposing deficits. “Back then you railed against debt. What changed?” Boyle asked, before pivoting to the real human cost of the proposed budget.

He cited the Congressional Budget Office (CBO) report, which projects that 16 million Americans would lose healthcare coverage under the GOP plan—10.9 million from Medicaid cuts and 5.1 million from Affordable Care Act reductions. When Bessent tried to argue the numbers were being misrepresented, Boyle firmly responded: “Excuse me, reclaiming my time. Those aren’t my numbers. That’s the CBO.” He added, “10.9 plus 5.1 is 16 million.”

The moment exposed the stark divide in priorities—where billionaires would continue to benefit from deep tax cuts while working families lose essential coverage. Boyle’s command of the facts underscored that this wasn’t partisan spin—it was verified data with real-life consequences.

Bessent’s shift—from fiscal hawk to a supporter of deficit-exploding tax breaks—highlighted the hypocrisy at the heart of current conservative economics. “Smart spending” has become code for stripping aid from the most vulnerable, while the wealthy remain untouched.

Boyle didn’t let the numbers get buried. He made sure Americans watching understood what’s at stake.

Continued thread

#Trump's #OneBigBeautifulBill cuts federal #spending on #Medicaid & #AffordableCareAct marketplaces by ~$1 trillion over a decade, acc/to the #nonpartisan #CBO, threatening the physical & financial #health of tens of millions of #Americans.

The bill, which the #Senate passed Tues, would reverse many of the health coverage gains of #Biden & #Obama, whose policies made it easier for millions of people to access #healthcare & reduced the US #uninsured rate to record lows.

npr.org/sections/shots-health-

Continued thread

Even without this bill, the #debt has been expected to reach record levels in the coming decades, with the #nonpartisan #CBO estimating that the debt held by the public, now about the same size as the #economy, would grow to become roughly 56% larger than the economy by 2055. Making the 2017 #TaxCuts permanent could push the debt to become more than twice as large as the economy over the next 30 years, Ms. Riedl said.

Continued thread

The #CBO estimates the Senate bill would increase the deficit by nearly $3.3T from 2025 to 2034, a nearly $1T increase over the #House-passed bill, which CBO has projected would add $2.4T to the debt over a decade.

The analysis also found that 11.8 million more Americans would become #uninsured by 2034 if the bill became #law, an increase over the scoring for the House-passed version of the bill, which predicts 10.9M more people would be without #health #coverage.

The Trump administration criticized the CBO's economic outlook as overly pessimistic, arguing that its tax reform's growth impact is underestimated and that actual U.S. GDP growth could far exceed official projections, potentially reducing the projected federal deficit.
#YonhapInfomax #TrumpAdministration #CBO #TaxReform #USGDP #FederalDeficit #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
en.infomaxai.com/news/articleV

Yonhap Infomax · Trump Administration Pushes Back Against CBO's 'Low Growth Outlook'—Says Tax Reform Impact Underestimated
More from Yonhap Infomax News

You might have heard it mentioned that the #CBO assessment of the #BBB was a net -$2.4T to the federal debt.

That's less than the $4-6T projected over the decade, right?

That's because it excluded interest costs from the addnl debt and counting on certain provisions expiring halfway through the decade.

Under ordinary circumstances, those provisions would have otherwise resulted in a net -$4.3T effect on the debt over the decade, and -$5.3T taking interest into account. Still -$4-6T. #USPol

"🚨Every claim made by Sen T Scott to ridicule the nonpartisan #CBO turns out to be false."

As part of the GOP campaign attacking the nonpartisan CBO for the grim fiscal projections for the #BBB of tax & spending cuts pending in the, he posted a video *ridiculed for its errors -even received a community note on X.

Rs, esp MOC, are liars like Trump. MSM usually fails to fact-check them. Kudos to the WaPo for holding Sen Tim Scott's feet to the fire.
#Lies #Budget #USPol
washingtonpost.com/politics/20

The Washington Post · Analysis | Tim Scott’s video attacking CBO: Nine errors in 60 secondsEvery claim made by the Republican senator to ridicule the nonpartisan agency turns out to be false

Paul Krugman exposes the "One Big Beautiful Bill Act" as a cruelly regressive law designed to enrich the ultra-wealthy while slashing crucial services for the poorest Americans. The CBO warns of significant economic losses for low-income households, with no deficit reduction in sight. This reflects a troubling alignment with authoritarian practices, prioritizing Trump over democracy. Discover more insights in the full article.

paulkrugman.substack.com/p/rev
#PaulKrugman #Trump #OneBigBeautifulBill #Republicans #CBO #RegressiveTax #Healthcare #FoodSecurity #Democracy #Authoritarianism

Paul Krugman · Reverse Robin Hood and Trumpian TotalitarianismBy Paul Krugman

Jake Johnson reveals alarming insights from the CBO's report on the GOP reconciliation package: a staggering $2.4 trillion increase in national debt over the next decade. Amid substantial cuts to essential programs, like Medicaid, the legislation proposes $3.75 trillion in tax breaks, disproportionately benefiting the wealthy. With millions at risk of losing health insurance, the implications are severe. For full details, read more here: crooksandliars.com/2025/06/con. #CBO #GOP #NationalDebt #Healthcare #Medicaid #TaxCuts

Crooks and Liars · Congressional Budget Office Gives GOP 'Budget' A Poop EmojiBy Jake Johnson