Spending has to be cut, revenue raised, and deficits turned into surpluses. The BBB does none of the above, and the BBBM sees its BS. From Quoth the Raven at quoththeraven.substack.com:
The bond market can’t be fooled—and by the looks of it, isn’t.
One of the reasons many people voted for President Trump during this past election was the Republican Party’s focus on our nation’s out-of-control finances.
After four years of what can only be described as the Biden administration purposefully racking up as much debt as humanly possible—while not even telegraphing a semblance of fiscal responsibility—the Trump administration ran on a plan to drastically cut spending and inject some financial common sense into government.
So far, there’s been some tangible progress. Trump is trying to recalibrate global trade in order to bring in new revenue and narrow our trade deficit. DOGE has worked to try and cut wasteful government spending. And there have been more discussions about sound money and methods to try and address the nation’s debt in the Trump administration’s first few weeks than I heard during all four years of the Biden administration.
But now we’re staring down the face of a tax and spending package bill, referred to as the “One Big Beautiful Bill”, that’s dividing parts of the GOP.
Trump is advocating for his new bill because he believes it will stimulate economic growth, reinforce U.S. infrastructure and industry, and strengthen national security—all while projecting confidence in America’s financial future. He argues that targeted spending now can generate long-term returns through job creation, increased productivity, and global competitiveness. By pushing this bill, he’s aiming to balance fiscal responsibility with strategic investment, positioning it as a necessary step to rebuild the country’s foundations after what he portrays as years of neglect and mismanagement under the previous administration.
