The one big, beautiful bill is a step in the right direction – but it’s no fix-all.
Consider this. While the bill trims $1 trillion in service costs, its tax cuts drive up deficit projections by nearly $3.8 trillion over the next decade. Translation? Spending was cut, but not enough to cover the revenue losses. The gap remains.
And remember, this budget reconciliation maneuver applies only to mandatory spending. It doesn’t touch discretionary spending, which is governed by the appropriations