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(The Center Square)–The federal government borrowed $710 billion in the first three months of fiscal year 2025, with 10 days before President-elect Donald Trump takes office.
The Congressional Budget Office reported $710 billion in borrowing, including $85 billion in the month of December, according to the latest Monthly Budget Review.
Federal agencies, including the CBO, expect deficit spending to continue despite promises from Trump and others to cut the federal budget.
Trump promised to cut “hundreds of billions” in federal spending in 2025 through the reconciliation process, a parliamentary procedure that allows Congress to expedite the passage of some federal budget legislation.
Trump’s Department of Government Efficiency, run by Tesla boss Elon Musk and entrepreneur Vivek Ramaswamy, also promised to cut the federal government down to size. Earlier this week, Musk estimated DOGE could trim $1 trillion from the federal budget, a sizable amount considering discretionary spending totaled $1.7 trillion in 2023. Generally, Congress spends about half of its discretionary budget on the U.S. Department of Defense.
Maya MacGuineas, president of the Committee for a Responsible Federal Budget, said U.S. borrowing should be a focus as Trump takes office.
“As we start the new year ushering in a new administration and a new Congress, we must not lose sight of the fiscal challenges ahead,” she said. “Our unsustainable debt isn’t something we can just shy away from, as 2025 is packed full of fiscal deadlines. So far we’ve heard much about how lawmakers plan to spend more and tax less; we’ve heard much less about the opposite.”
MacGuineas suggested no new borrowing and guaranteeing all tax cuts and spending increases are fully offset. That’s a daunting challenge for lawmakers as they look to extend the tax provision in the 2017 Tax Cuts and Jobs Act, which the CBO estimated will cost about $4 trillion over the next decade.
Congress has run a deficit every year since 2001. In the past 50 years, the federal government has ended with a fiscal year-end budget surplus four times, most recently in 2001.
Mark Zuckerberg Claims Facebook Is Ditching “Fact-Checkers” and Going to Community Notes Similar to 𝕏
by JD Rucker
Meta CEO Mark Zuckerberg is a scoundrel, a billionaire snake who has backstabbed pretty much everyone he’s personally dealt with ever since rising to prominence. He spent over $400 million of his own money to prevent President Donald Trump from winning in 2020. His “platform” has been amongst the most…
Bill O’Reilly to Donald Trump: “The Press Hates You”
by Podcaster
There has been a very noticeable shift in the way legacy media is covering the transition for President Trump compared to his first victory in 2016. It seems that many in legacy media are toning down their rhetoric and preparing to treat President Trump more “fairly.” According to Bill O’Reilly,…
The Biggest Sale on Beef With 25-Year Shelf-Life EVER
by Sponsored Post
Let’s cut to the chase. Prepper All-Naturals is offering an unprecedented 40% off for its “Beef Steak” survival bags with promo code “steak40”. With a 25-year shelf life and a single ingredient (beef, of course), our most popular product is available for a very limited time with the biggest discount…
The Climate Agenda’s March Through the Institutions: Can It Be Stopped?
by Daily Signal
A spate of stories in the media recently provides a remarkable illustration of how the globalist policy agenda of the climate-industrial complex has captured key international institutions and perverted their original organizational aims. From initially serving broad, laudable objectives for the welfare of their constituents, these institutions have been subverted…
About That Video of Deb Fischer’s Husband and Kamala Harris That’s Circulating on Social Media
by Red State
Social media platforms can be bowls of dumb on any given day (that goes double for BlueSky), and Monday was no exception, with the certification of Donald Trump’s November election victory bringing out some fresh cray-cray from Democrats and their media allies. Though the President-Elect certainly does bring out the…
Trump Denies “Fake News” Report on Changes to Economic Plans
by Publius
President-elect Donald Trump has refuted a Washington Post report suggesting his aides were considering a more restrained tariff policy. The report claimed that Trump’s transition team was contemplating a tariff plan that would be less extensive than his campaign promises, targeting only imports deemed critical to national or economic security….
Radicalized Knife-Wielding Man Attempts to Storm Belgian Prime Minister’s Offices Shouting ‘Allah Akbar’
by RAIR Foundation
Brussels, Belgium — January 6, 2025: A potentially deadly attack was narrowly avoided this morning when a “radicalized” man in his twenties armed with a knife attempted to break into the offices of Belgian Prime Minister Alexander De Croo. The incident occurred at 16 rue de la Loi as the…
Gold Breaks Out With Central Bank Surge and Interest Rate Drops Expected
by Sponsored Post
Precious metals are seeing gains once again following the post-election dip, just as many economists had expected. Even China, which had been holding back for five months, returned to purchasing massive quantities of gold. “Falling U.S. interest rates and ongoing solid demand from central banks are supporting the gold price,”…
JPMorgan: “Debasement Trade” Into Bitcoin and Gold Is Here to Stay
by Tyler Durden, Zero Hedge
(Zero Hedge)—The so-called “debasement trade” into gold and Bitcoin is “here to stay” as investors brace for persistent geopolitical uncertainty, according to a Jan. 3 research note by JPMorgan shared with CoinTelegraph. Gold and BTC “appear to have become more important components of investors’ portfolios structurally” as they increasingly seek to…
Study of 9 Million Exposes ‘Devastating’ Neurological Damage Surge Among Covid-Vaxxed
by Slay News
An explosive new study involving almost 9 million participants has exposed a devasted surge in deadly neurological and psychiatric damage among those who received Covid mRNA “vaccines.” According to the peer-reviewed study, just one dose of an mRNA injection puts recipients at risk of suffering several severe neurological diseases. The…
More Details Emerge Regarding the Plan to Kill a Supreme Court Justice
by Zachary Stieber, The Epoch Times
(The Epoch Times)—A California man allegedly told authorities that he flew to the East Coast to kill Supreme Court Justice Brett Kavanaugh, according to newly filed court documents. Nicholas Roske flew across the country from California to Virginia on June 7, 2022, landing just before midnight. He got into a…
First US Death From H5N1 Bird Flu Reported in Louisiana
by Infowars
On the same day Congress certified Trump’s election victory – and with just 14 days before he takes office – the official confirmation of the nation’s first “H5N1-related human death” has been reported in Louisiana. Notably, authorities have made it clear that all we will know about the diseased patient…
Embracing Natural Foods: A Path to Better Health and Healing
by Local News
A diet high in natural foods has many benefits, from reducing the risk of disease and obesity to the vitamins and nutrients that natural foods contain that can aid in the healing of certain health conditions or diagnoses. Using natural foods in our diets is vital for Americans to become…
Dana White Has Joined Meta’s Board of Directors
by Cactus Williams, Discern Report
UFC CEO and long-time friend of Donald Trump, Dana White, has joined Meta’s board of directors alongside Charlie Songhurst and John Elkann. This is just the latest in a series of decisions Meta has made following Trump’s historic electoral victory which seemed to be aimed at cozying up to the…