The “One Big Beautiful Bill” — A Bold Step Forward, Yet Also A Missed Opportunity That Means An Increased National Debt
Moderate Republicans Undermine Deeper Debt Reduction Efforts
⏱️ 4 min read
Reflecting on Founding Principles this Independence Day
As the One Big Beautiful Bill (OBBB) approaches President Donald Trump’s desk for signing on Independence Day, the timing naturally leads us to reflect on our nation’s founding principles. The Declaration of Independence, signed in 1776, emphasized limited government, with Thomas Jefferson asserting that “governments are instituted among men, deriving their just powers from the consent of the governed.” John Adams warned that “the moment the idea is admitted into society that property is not as sacred as the laws of God… anarchy and tyranny commence.” These warnings underscore the profound need for reduced federal involvement and robust fiscal discipline—goals which the OBBB only partially addresses.
Commending the President and Republicans’ Achievements
Before examining its shortcomings, we must acknowledge President Trump and the Republican conferences in both the House and Senate for the genuinely impressive achievements within the OBBB. This bill includes vital provisions to strengthen our economy and secure our borders. Most importantly, it permanently made significant tax cuts from 2017, providing long-term certainty for businesses and families. It also added new tax cuts to stimulate economic growth, including “no tax on tips.” Americans for Tax Reform has compiled a thorough list of the cuts here. Furthermore, the OBBB makes essential investments in fighting illegal immigration, a critical step towards restoring sovereignty and order at our borders, alongside significant cuts to programs like Medicaid (creating a work requirement) SNAP. And while we will argue that (much) more was needed, the bill does contain substantial spending cuts that represent a move in the right direction. These are not minor accomplishments; for these, the President and Republican leadership deserve considerable praise.
A Missed Opportunity for True Fiscal Sanity
However, the OBBB process has also exposed a troubling reality within the Republican Party, revealing a significant missed opportunity for true fiscal sanity. With bare majorities in both chambers, the absence of Democratic votes placed the responsibility squarely on Republicans to deliver a fiscally responsible package. Yet, even the House version failed to include deep cuts sufficient to halt deficit spending. President Trump likely envisioned a bill with substantial reductions—enough to stop adding to the $37 trillion national debt and begin its repayment. Instead, the process reveals a party divided, with so-called moderate Republicans prioritizing political comfort over economic discipline, ultimately undermining a truly transformative fiscal agenda.
Moderates Derail Deeper Cuts
So-called moderate Republicans bear the primary responsibility for this shortfall. In the House, figures hesitant to challenge entrenched programs watered down initial proposals, leaving the version that passed short of the austerity we desperately need. The Senate worsened this failure, with moderates resisting deeper cuts to energy subsidies and softening Medicaid reductions. While the Senate bill did propose steeper overall Medicaid cuts than the House, the extent of these cuts was still softened by moderate influence, and concerns over rural hospitals led to significant funds being added back. This reluctance suggests a belief that big government remains acceptable if managed by the right hands, rather than a problem to be solved. Potential cuts to programs like SNAP or discretionary spending never gained the comprehensive traction needed to impact the debt crisis, stifled by moderates who seem more aligned with maintaining the status quo than addressing the looming debt crisis.
Deficit and Debt: An Acknowledged Growing Crisis
Estimates of how much additional deficit spending will occur due to the OBBB’s policies vary significantly among different organizations. While some analyses suggest the House version could add around $3.0 trillion to the national debt over a decade with interest, other projections for the Senate version climb to $3.9 trillion or more. Even if we were to dismiss the highest of these estimates—which we should not do out of hand—there is broad consensus that the United States national debt will continue its ascent to even more alarming heights. This ongoing debt accumulation will inevitably lead to massive interest payments, compounding the burden on taxpayers and diverting an ever-larger portion of the federal budget towards servicing past borrowing. This escalation threatens long-term economic stability, burdening future generations with an unsustainable load. Moderate Republicans in both chambers must answer for this, as their aversion to bold fiscal action perpetuates a cycle of borrowing that undermines our nation’s financial health.
The Senate Parliamentarian’s Convenient Excuse
Moderates in the Senate often shield themselves behind procedural rules enforced by the Parliamentarian, who ruled that deep cuts to Medicaid and other programs fell outside budget reconciliation. Yet, with 53 Republican seats, the Senate can alter these rules with a simple majority, bypassing such constraints. This unwillingness to act suggests a strategic dodge, protecting senators from politically risky votes rather than confronting the debt crisis head-on. The Parliamentarian’s rulings, while procedurally correct, serve as a convenient scapegoat, but the absolute failure lies with moderate Republicans unwilling to wield their legitimate authority for genuine fiscal reform.
A Tremendous Victory, Despite Fiscal Shortcomings
Despite the cautionary words regarding the bill’s failure to enact sufficiently deep spending cuts, the One Big Beautiful Bill passage represents a tremendous victory for President Trump and the Republican Party. This bill fulfills key campaign promises, solidifies crucial tax reforms, and takes significant steps towards securing our borders and reining welfare spending. The OBBB’s contents becoming law today, on Independence Day, marks a substantial achievement for the new administration and the Republican-controlled Congress. It demonstrates their ability to unite on critical issues and deliver on their agenda, setting a strong precedent for future legislative battles. We applaud the President as he signs this historic bill into law, recognizing its immediate positive impacts while remaining vigilant for the necessary deeper fiscal reforms.
Looking Ahead to the Next (and Essential) Battle
With the signing of the OBBB happening today, it is time to look forward to the next budget reconciliation bill. Intelligent people must assemble a comprehensive list of all spending reductions that can be made through this arcane process, which avoids the 60-vote requirement in the Senate. Then we must start a serious campaign to address the deficit spending crisis. But there really isn’t enough discretionary spending that can be curtailed via reconciliation to get us on the right track. The biggest driver of deficit spending is in the area of entitlement spending. There needs to be a serious conversation about whether saving the country requires ending or modifying the 60-vote rule in the Senate so we can look at how to reduce entitlement spending. I say this because Democrats do not like spending cuts, and would prefer to raise taxes. The only alternative would be to start undoing tax cuts, or as the debt grows become like Venezuela! Those options sound less than optimal.
Happy July 4th to you and yours!