Senate Republicans Just Voted to Vaporize Another $5 Trillion From Your Future Earnings

EDITOR'S NOTES

Let’s be crystal clear: this isn’t about Trump or whichever political mascot you’ve been trained to boo or cheer. This is about fiscal nihilism with a red tie. The Senate’s version of the “Big, Beautiful Bill” is an objectively Libertarian nightmare: $3.3 trillion in new deficit spending, $5 trillion slapped onto the debt ceiling, and a set of accounting gimmicks that would make Enron look like a model of transparency. You don’t have to be a Democrat to see this is financial fraud dressed up as policy. You just have to be awake.

Derek Wolfe Jul 1, 25

A $3.3 Trillion Bomb Dropped on Your Future

If you were under some quaint illusion that the Senate might temper the House’s deficit-blowing tax package, time to disabuse yourself. The Senate Republicans have unveiled their own Frankenstein monster of the “One Big Beautiful Bill”—and it’s uglier than anyone dares admit.

According to the Congressional Budget Office, this Senate version balloons deficits by a cool $3.3 trillion over the next decade. That’s half a trillion dollars more than the House’s already grotesque $2.8 trillion shortfall. And it’s all happening against the backdrop of a debt-to-GDP ratio already north of 120%.

Translation: the United States is functionally insolvent. And rather than course-correct, our esteemed legislators are stomping on the accelerator.

The Gimmick That Makes Enron Look Honest

How did they cook these numbers? Simple—by redefining reality. Instead of calculating costs using the usual “current law baseline,” Republicans demanded a “current policy baseline.” That means they just pretend all Trump-era tax cuts never expire, so extending them somehow costs nothing. If you ran your household budget this way, you’d be in prison. Here in DC, you get re-elected.

Even the Committee for a Responsible Federal Budget, a think tank that usually tiptoes around partisan toes, called this the “biggest and most economically costly gimmick in American history.” And they’re right—because this precedent guarantees future administrations will do the same. Every four years, Congress will just extend every expensive program, slap “current policy” on the label, and pretend the deficit never moves.

The Real Cost They Don’t Want You to See

Spoiler: it does. The Joint Committee on Taxation still estimates the real price tag of extending the 2017 cuts is $3.8 trillion. That’s not even counting the $693 billion in other tax giveaways tucked into the bill like candy for lobbyists. But because the Senate only “counts” the latter figure, they get to say the bill is affordable.

This is the legislative equivalent of moving your overdraft notices to the junk drawer so you can keep swiping the credit card.

Fiscal Suicide by Red Tie

Naturally, Democrats seized the moment to scold Republicans about fiscal responsibility—an irony so rich it should be taxable. But they’re not wrong: with the US barrelling toward $40 trillion in debt inside of two years, this is suicidal.

And that’s the real point. No matter who’s in charge, the machine is too bloated, too corrupt, and too addicted to borrowed money to ever stop. Medicaid cuts, food stamp tweaks, corporate tax perks—they’re all rearranging deck chairs. The iceberg is the debt itself.

More Tax Breaks for Corporations, Fewer Illusions for You

Senate Republicans also made sure to permanently cement three business tax breaks and set new caps on deductions for state and local taxes, a bone tossed to their donors while they pretend to care about middle-class relief. House and Senate negotiators even worked out a side deal: a five-year cap on deductions instead of ten years, just to make sure this monstrosity squeaks under the wire procedurally.

The One Number That Matters

You want to see what the real numbers look like? Forget CBO modeling. Just add up the Treasury’s cash withdrawals. It’s the simplest metric: money out the door. And no accounting voodoo can disguise that the US federal government is bleeding trillions faster than it can print them.

Bottom line:

The House version of the bill lifts the debt ceiling by $4 trillion.
The Senate version goes for $5 trillion.
And in a few years, Andrew Yang’s joke that this should be called the BBB Act—because that’s what our credit rating will become—will look optimistic.

Stop letting red jerseys or blue jerseys blind you to the obvious. This is non-partisan financial malpractice.

If you’re tired of being a pawn in this debt-fueled con, arm yourself now.

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