, Columnist
The Republican Budget Bill Is a Fiscal Mirage
Three risks undescore how the legislation winding its way through Congress threatens to accelerate America’s debt crisis.
A not so beautiful bill.
Photographer: Andrew Caballero-Reynolds/AFP via Getty Images
The Congressional Budget Office’s latest analyses of the One Big Beautiful Bill Act, or OBBBA, has sparked a debate over how to measure future deficits. But this squabble over so-called baselines distracts from the legislation’s dangerous fiscal trajectory.
Beneath the surface of the competing arguments lies a sobering reality, which is that this bill risks accelerating America’s debt crisis, especially if the economic tailwinds CBO expects fail to materialize.