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A major reason for this bait-and-switch maneuver is Medicaid, with legislators reluctant to hit the brakes on the federal funding gravy train that pads their own state budgets.

Congress is acting like an alcoholic showing up at the bar with just enough cash to have ‘one drink,’ downing ten, putting them all on a credit card, and telling themselves that was the plan all along. 🥴

Now the Senate is attempting to rewrite the budget resolution using an accounting gimmick to pretend extending the 2017 tax cuts won’t increase the deficit. Their tactic: switching to a ‘current policy baseline.’

The House recently passed a budget resolution calling for $4.5 trillion in tax cuts plus $300 billion in new spending—all balanced out with $2 trillion in offsetting spending cuts and about $2.6 trillion in ‘pixie dust’ from assuming economic growth will take off like one of SpaceX’s rockets.

Congress must commit to a credible fiscal plan. This means:

• Setting clear fiscal targets
• Cutting spending
• Reforming Social Security & major health care programs
• Extending tax cuts responsibly

America’s fiscal picture isn’t pretty:
• $1.8 trillion deficit in FY24
• Rising costs for Social Security & Medicare
• Debt near 100% of GDP and growing fast

Failure to act risks slower growth, higher interest rates, and a fiscal crisis.