Debt Limit Increase in President Trump's Bill

SOURCE www.foxnews.com
Senator Rand Paul opposes President Trump's bill due to the debt limit increase, White House disputes CBO's deficit assessment, national debt vs. deficit explained, bill faces criticism and opposition in Senate

Key Points

  • Debt limit increase in President Trump's bill is a deal-breaker for Sen. Rand Paul
  • White House disputes CBO analysis, forecasts deficit reduction
  • National debt is $36.2 trillion, deficit measures spending exceeding revenues
  • Bill faces criticism and opposition in Senate

Pros

  • White House forecasts reduction in deficits by $1.4 trillion
  • Measure coupled with other initiatives expected to reduce deficit by at least $6.6 trillion over 10 years

Cons

  • CBO predicts bill will increase federal deficit by $2.4 trillion over the next 10 years
  • Opposition from figures like Sen. Rand Paul and Elon Musk
  • Criticism of bill's impact on federal deficit