One Big Beautiful Fiscal Crisis
Yesterday, in a 51-49 vote, Senate Republicans passed the “One Big Beautiful Bill Act” (OBBBA), which, if passed by the House this week, will increase the national debt by approximately $4 trillion while leaving 11 million more Americans uninsured by 2035. The bill is significantly more draconian in its Medicaid cuts than the version passed by the House in May, cutting the program by $1 trillion over 10 years, rather than the $800 billion proposed in the House bill.