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The Latest Breaking News from the Yale Budget Lab

10 Years Ago Today, Trump Promised To Eliminate the National Debt. Instead, It Has Doubled.

Trump's ridiculous, grandiose promise tells us something about the federal government's fiscal affairs and the president's approach to policy.

Reason

The Trump Administration’s proposed capital gains tax cut could add nearly $1 trillion to the national debt within the decade, think tank warns

“We need more revenue, not less,” Committee for a Responsible Federal Budget president Maya MacGuineas said.

Fortune

If AI is roiling the job market, the data isn’t showing it, Yale Budget Lab report says, raising questions of ‘AI-washing’ to justify mass layoffs

Some analysts have projected AI will displace 7% of U.S. workers. Yale economists said it’s just too early to tell.

Fortune

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Here's Why Your Boots, Bags, and Furniture Are About to Get 22% More Expensive Next Year

Leather goods prices are set to surge 22% over the next two years as tariffs, cattle shortages, and global supply chain bottlenecks squeeze manufacturers of everything from handbags to sofas.

International Business Times UK

Trump wants to rebrand his ‘big, beautiful bill’ as the ‘Working Families Tax Cut’. Don’t be fooled

The budget measure will hurt poor people and boost rich people. It should really be called the Billionaires’ Tax Cut Act

The Guardian - US

‘It’s harsh. It’s mean, brutal’: Trump bill to cause most harm to America’s poorest

President embraces Robin-Hood-in-reverse policies to benefit wealthiest and hurt those earning under $50,000

The Guardian - US

Here Are 3 Reasons Why the 'Big Beautiful Bill' Won't Generate 3 Percent Growth

The White House is promising higher growth, but tariffs, borrowing, and rising interest rates will be a drag on those expectations.

Reason

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Belated Republican Objections to the One Big Beautiful Bill Glide Over Its Blatant Fiscal Irresponsibility

House members who discovered objectionable elements only after voting for the package nevertheless underline the unseemly haste of the legislative process.

Reason

The GOP Tax Bill Will Add $2.3 Trillion to the Deficit, CBO Says

That total could double if temporary provisions in the bill become permanent, as is likely to happen.

Reason

As Musk steps back, experts say Doge cuts have harmed government services

The billionaire fired thousands of workers, but savings are minimal and offset by degradation of services, critics say

The Guardian - US

GOP budget "just the first set of cuts"

"Wealthy Americans, on the other hand, would have a larger share of the economic pie"

Salon

How much will Trump’s tariffs cost US consumers?

Prices are likely to go up across the board, from blueberries to new cars, but exactly when and how is unclear. Here’s what we know so far

The Guardian - US

From groceries to homes to cars, what could get more expensive under Trump's tariffs

'You can view it as a tax on consumers.'

People

Marjorie Taylor Greene

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the Trump Administration

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