Despite the White House’s assertions that the One Big Beautiful Bill Act will not add to the federal debt or deficit, four independent budget watchdogs agree that debt growth will accelerate and reach over $50 trillion by 2034, if the policy megabill becomes law.
As emphasized Friday by the Peter G. Peterson Foundation, the Budget Lab at Yale predicts $52.3 trillion, the Congressional Budget Office predicts $52.4 trillion, the Tax Foundation predicts $52.8 trillion, and the Penn Wharton Budget Model predicts $56.3 trillion as the national debt number a decade from now.
The national debt is more than $36.2 trillion.
Fiscal scorekeepers have also produced alarming estimates on the bill’s ten-year deficit impact, with the CBO and the Joint Committee on Taxation predicting it will add up to