Trillion Archives

US Congressional Budget Office’s warning: Trump’s big bill could raise national debt by $2.4 trillion; 10.9 million to lose health insurance

The independent US Congressional Budget Office (CBO) announced on Wednesday that the comprehensive Republican legislation for tax reductions and federal programme cuts would potentially increase the national debt by $2.4 trillion in the next ten years. This analysis, reported by the New York Times, raised concerns about excessive government borrowing under President Donald Trump‘s domestic […]

Trump’s $5 trillion tax gamble sparks GOP revolt, market jitters; and a rare rebuke from Elon Musk

President Donald Trump is facing mounting resistance from Republican senators, financial markets, economists, and even Elon Musk, over his multitrillion-dollar tax cut plan, which critics say could explode the national debt and rattle an already wary economy.The House recently passed Trump’s proposed tax and spending cuts, but analysts say they would add over $5 trillion […]

Elon Musk’s $2 trillion DOGE savings pledge for Donald Trump goes up in smoke: Report

Elon Musk’s Department of Government Efficiency (DOGE) has fallen far short of the massive savings it promised, according to a report by the Financial Times. Despite claims on its official website that it slashed $170 billion in government spending, new analysis says only a fraction of that amount can be verified. Musk had vowed to […]

US tariffs wipe out $9 trillion in global markets; Trump says will ‘supercharge economy’

Global markets were rattled on Friday as US President Donald Trump’s aggressive tariff war triggered a massive sell-off, erasing more than $9 trillion in market capitalisation since his second-term inauguration on January 20. The Wall Street meltdown, the worst since the Covid -19 pandemic, sent shockwaves across global financial centres. The S&P 500 plunged nearly […]