Trump's Amended "One, Big, Beautiful Bill" Passes House, Ushering In One Of The Largest Debt Expansions In U.S. History
"But a sugar-high won’t be sustained, it will do real damage, and often what comes next is the crash."
After a bunch of theatrics and typical long, drawn-out, theatrical bickering, the House of Representatives narrowly passed an updated Senate version of President Donald Trump’s highly touted “One, Big, Beautiful Bill” (BBB), with two Republicans voting nay: Thomas Massie (KY-R) and Brian Fitzpatrick (PA-R).
President Trump will sign the bill on July 4th, Independence Day.
After being amended by the Senate a number of fiscal things changed (among other things and various other stipulations buried in the bill - things that I have already covered previously and more reports to come):
Elon Musk, in his apparent continued feud with Trump, referred to this as political suicide for the Republican party as polls show hardliners to softshells are not fans of this bill.
Per the Committee for a Responsible Budget, the group declared this a “dark day for our fiscal future.” The group wrote:
This bill will be the most expensive reconciliation bill in history, adding $4.1 trillion to the national debt through 2034. If its temporary provisions are extended permanently, that total would rise to $5.5 trillion. Under the bill as written, the national debt would rise from 100 percent of the economy today to 127 percent by 2034.
A summary table of the bill can be found here, and relevant charts and graphs summarizing the bill can be found here.
AUTHOR’S NOTE: Be sure to examine the charts and tables for yourself, as they help visualize how detrimental this latest round of spending is.
Maya MacGuineas, president of the Committee for a Responsible Federal Budget, issued a statement regarding this bill’s passage:
“In a massive fiscal capitulation, Congress has passed the single most expensive, dishonest, and reckless budget reconciliation bill ever – and, it comes amidst an already alarming fiscal situation. Never before has a piece of legislation been jammed through with such disregard for our fiscal outlook, the budget process, and the impact it will have on the well-being of the country and future generations.
“Our fiscal condition is currently precarious, with debt-to-GDP soaring towards an all-time record, interest costs surging past nearly all other parts of the budget, and the Social Security and Medicare trust funds heading towards insolvency. This bill, which has been described by champions as “a start” toward fiscal sustainability, would in fact make every single one of these problems worse – in some cases, dramatically worse.
“Given our current fiscal condition, lawmakers should be committed to not passing any legislation that makes the situation worse. Instead, demonstrating blatant disregard for the fiscal damage this will do, Congress passed a bill that would add more than $4 trillion to the debt, accelerate the insolvency of Social Security and Medicare, and leave us even more vulnerable to the whims of the Treasury markets.
“There were a number of lawmakers who, under immense pressure, nonetheless tried to improve this bill along the way. The final bill would have been even worse for the debt, absent their efforts. But ultimately you speak with your vote, and every Member of Congress who voted for this irresponsible bill enabled adding trillions of additional borrowing, when they should have been working to fix the debt.
“Throughout this process, we have eroded the fragile norms that stop politicians from adding unlimited amounts to the national debt. Congress didn’t just increase the debt by $4 trillion – they engaged in a massive cover-up about it, and they forced the scorekeeper to do the same. What’s the point of budgeting at all, if you can just make up whatever numbers you want?
“Yes, the economy may well enjoy a sugar-high the next couple of years, as borrowing stimulates near-term consumption. But a sugar-high won’t be sustained, it will do real damage, and often what comes next is the crash. The longer-term health of our economy, American families, and our children will be worse off due to this debt-financed bill.”
Last year, the U.S. managed to accrue so much (admitted) federal debt that interest payments reached roughly $1 trillion every 100 days.
Now OBBBA threatens to eventually push interest payments past $2 trillion by 2034, according to CFRB.
AUTHOR COMMENTARY
Per standard operating procedures for the federal government, there are all kinds of invasive and draconian objectives buried in this bill that most people will never hear about nor will ever; some of which I have covered already, and there are others that I will be exposing in the days to come.
I also reported how OBBBA prohibited states from regulating AI for 10 years. Supposedly this was removed during the Senate sessions, though I am sure they snuck it in somewhere else or just reworded and the media sold it.
2 Kings 6:25 And there was a great famine in Samaria: and, behold, they besieged it, until an ass's head was sold for fourscore pieces of silver, and the fourth part of a cab of dove's dung for five pieces of silver.
At this pace, we’ll in essence be doing that before too long!
Ah, the GOP: the party of “common sense” and “fiscal responsibility.”
Of course, Fox News’ Boomers and the diehard MAGAs are cheering this blindly and popping champagne right now. ‘We won’ - they’re not sure how they won, but they won, they declare.
It is also worth noting that this package codifies again Trump’s 2017 tax cuts. In other words, more of this so-called “trickle-down” ballyhoo. Sure, you’ll get crumbs and the illusion of savings, but it is really just inflation on the backend. But Americans love their cheap dopamine and fast cash so they will not realize how and why they are being swindled, but as long as they are given the perception that they are getting a tax break, even a small one, they will cheer blindly.
Earlier this year, New Zealand Reserve Bank (NZRB) Governor Adrian Orr said the quiet part out loud and joked, “We actually fund ourselves and then decide what dividends to pay. It’s a great business to be in, central banking, where you print money and people believe it.”
But there is an actual term for this when central banks print all this money: it’s called the “Cantillon Effect;” those closest to the money printer reap the most benefit, whereas when the money starts to funnel and “trickle down” into the broader economy it’s worth a lot less, and we pay for it as a tax that way. It is the single greatest Ponzi scheme ever concocted.
And why should the Federal Reserve cut interest rates just yet when you essentially have quantitative easing occurring: debt expansion (that the Fed facilitates by adding digits on a screen (“money printer go brrr” is a colloquial term at this point)), and the Fed buying bonds and treasuries to artificially suppress bond yields from spiking? The Fed will cut rates eventually, which I am pretty confident in saying, and that will only accelerate currency devaluation. President Trump is out here repeatedly saying he wants rate cuts over and over now, to the point where he posted a purported hand-written letter to Fed head Jerome Powell to cut rates to near 0%; and he recently said that he will only appoint a new Fed Chair who wants to drastically cut rates. Of course, Trump has no choice in this, but it signals where things are headed.
People forget that Trump has explicitly said that he likes a weaker dollar. A strong currency gives us plebs strength. This is antithetical to a central bank’s long term goals to own it all. But Trump is so nuts he wants negative rates, which means you pay the bank to hold your money! You can see Trump’s statements during his first term here:
Proverbs 22:7 The rich ruleth over the poor, and the borrower is servant to the lender.
I have reiterated many times before and it bears repeating that central banks around the world are inflating rapidly as they force us into programmable money: digital tokens, stablecoins, CBDCs, instant-transfer payment rails, etc. See:
As I said before, I will be covering more draconian garbage in OBBBA in upcoming reports, so stay tuned.
The Lord Of Glory: The Detailed Guide To Who God Is – Available Now!
On one of his missionary journeys, the apostle Paul visited Athens, Greece, where he said he witnessed “the city wholly given to idolatry,” and who were “too superstitious” and worshipped a plurality of gods and deities, though the people acknowledged that there was still one God above all that was a mystery to them. When questioned by the philosophers …
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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"The Fulfillment of the Law Matthew
17 Do not think that I have come to abolish the Law or the Prophets. I have not come to abolish them, but to fulfill them. 18 For I tell you truly, until heaven and earth pass away, not a single jot, not a stroke of a pen, will disappear from the Law until everything is accomplished. 19 So then, whoever breaks one of the least of these commandments and teaches others to do likewise will be called least in the kingdom of heaven; but whoever practices and teaches them will be called great in the kingdom of heaven. 20 For I tell you that unless your righteousness exceeds that of the scribes and Pharisees, you will never enter the kingdom of heaven.
-As attributed to having been sad by Jesus Christ
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Everything will come out with the wash, brother.
Matthew 19: 26
25 When his disciples heard it, they were exceedingly amazed, saying, Who then can be saved?
26 But Jesus beheld them, and said unto them, With men this is impossible; but with God all things are possible."
It's all like a sale; "we mark it up, so we can mark it down to save you money".
What they are doing is running all through the rollers of an old time washing machine, ringing out every bit of cash ya have to pay for all the money they print up and spend, What a concept, pay your debt with more debt and I bet it costs more to print a bill then it is worth.
When in debt, print it out: WDPO. I know; why can't we all print our own money, to pay taxes, problem solved, LOL