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The Latest Breaking News from CBO

To save Trump’s ‘one big, beautiful bill,’ Republicans disregard the math

ANALYSIS: Analysis: The leadership doesn’t like the debt-exploding numbers of Donald Trump’s proposal exposed by the Congressional Budget Office, Eric Garcia writes

The Independent UK

U.S. Space Force general to lead Trump's $175 billion Golden Dome space defense program

U.S. President Donald Trump unveiled a plan for his ambitious "Golden Dome" missile defense shield this week, stating it will cost $175 billion and take some three years to develop.

Space

The GOP Tax Bill Will Add $2.3 Trillion to the Deficit, CBO Says

That total could double if temporary provisions in the bill become permanent, as is likely to happen.

Reason

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Congress exposes Trump’s $3.8 trillion deficit that helps the rich and makes ‘children go hungry’

Even Congress isn't falling for this.

We Got This Covered

Trump warns Republicans not to 'f— around' with Medicaid because he knows it's political suicide for MAGA

The GOP caucus is still divided on how deeply to cut public programs in order to achieve trillions in tax cuts.

Fortune

Trump revives Reagan’s ‘Star Wars’ dreams with $175B ‘Golden Dome’ missile defense

It feels like the death star.

We Got This Covered

Trump’s ‘big, beautiful bill’ at a crucial juncture

The bill proposes sweeping changes, including Trump’s 2017 tax cuts and enacting deep cuts to social programmes.

Al Jazeera

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GOP leaders try to keep Friday reconciliation markup on track - Roll Call

House Republicans’ “big, beautiful” reconciliation bill has a Texas-sized problem as it heads to the Budget Committee for a Friday markup.

Roll Call

AOC Posts Two-Word Response as CBO Projects Millions Could Lose Medicaid Under GOP Proposals: 'Told Ya'

AOC reacted to a report by the Congressional Budget Office showing that several Republican-backed Medicaid policy options could result in millions of Americans losing health coverage.

Latin Times

Conservatives chafe at taking Medicaid savings options off table - Roll Call

House GOP leaders’ decision to step back from two pathways to major Medicaid cost savings has fueled contempt with hard-line conservatives.

Roll Call

Viral M&S shoplifter jailed and banned from City of London for five years

Duane Moss repeatedly targeted the same M&S Food store on High Holborn.

Evening Standard

Trump Wants Lower Interest Rates. The Market Disagrees.

Even if the Fed tried to cut rates, inflation, investor reluctance, and a $25 trillion borrowing spree could keep them elevated for years.

Reason

'Current policy' debate dogs budget reconciliation efforts - Roll Call

The Senate's budget blueprint has triggered a fight over wiping away the cost of tax-cut extensions in a bid to make them permanent.

Roll Call

Trump tariffs could gross $800 billion in the next decade, CBO head says—but that doesn’t account for the backlash

As the Trump administration continues its tariff policy there are still too many variables to measure its net effect on the economy.

Fortune

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The Independent UK

US economic growth to slow in the next 30 years, fueled by debt and declining birth rates, CBO says

Weak population gains and increased government spending will result in slower overall economic growth over the next 30 years, the nonpartisan Congressional Budget Office said Thursday

The Independent UK

US could run short of money to pay its bills by August without a debt limit deal, CBO says

The United States is on track to hit its statutory debt ceiling — the so-called X-date when the country runs short of money to pay its bills— as early as August without a deal between lawmakers and the White House

Fortune

US debt could explode above 200% of GDP in two decades if Trump's tax cuts become permanent, CBO says — putting it at unsustainable levels

"Macroeconomic feedback effects would further increase interest rates and, therefore, lead to even worse fiscal outcomes," the Peter G. Peterson Foundation warned.

Reason

Congress and DOGE Can Find Spending Cuts at the Department of Defense

The U.S. can defend itself at a lot less expense.

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The Independent UK

Congress can’t reach Trump’s cuts without touching Medicaid or Medicare, budget office confirms

‘This letter from CBO confirms what we’ve been saying all along: the math doesn’t work without devastating Medicaid cuts,’ New Jersey Democrat says

The Guardian - US

GOP budget goals impossible without Medicare and Medicaid cuts, budget office says

Republicans are expected to fall short of their goal to slash the budget by $1.5tn despite Donald Trump’s assurances

The Independent UK

Fired federal workers hunt for new jobs but struggle to replace their old ones

Job searches can be tough for anyone, but some of the federal workers flooding the market after widespread layoffs are finding it particularly tough

Roll Call

House GOP preps all-in-one budget blueprint for committee vote - Roll Call

House Republicans are plowing ahead with a budget resolution markup on Thursday before the chamber’s scheduled one-week recess begins.

Kiplinger

Social Security Fairness Act Payments Checklist: Nine Things to Know

This Social Security Fairness Act checklist explains what public sector retirees can expect from SSFA, including when their payments will arrive and how much more money they may receive.

Roll Call

Divided House GOP searches for solution on budget resolution - Roll Call

House Republicans are trying to avoid letting the Senate jump ahead and take the steam out of the House’s budget reconciliation bill.

Kiplinger

Social Security Fairness Act Retroactive Payments and 2025 Increases Are Delayed

Public sector retirees, spouses' or surviving spouses' benefits will be delayed until further notice. The SSA must manually adjust benefits for over 3 million beneficiaries.

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