A Fiscal Fantasy? President Trumps "One Big Beautiful Bill"
What has happened to common sense and fiscal responsibility? Our elected officials are bestowing a gift of another 3 trillion dollars to the 36 trillion that will be on the shoulders of our children and grandchildren. This is the current fight but its not just Republicans, Democrats have spent trillions that they did not have also. A quick thank you to my senator Thom Tillis who was one of two Republicans to vote against the bill.
As you can see in the graph our deficit was relatively low (well under a trillion, if you consider a deficit of 500 billion low) before 2009. It went up under President Obama and then went down and then went way up under President Trump's first term, down under President Biden's term and now expected to skyrocket under Trump's second term.
President Trump’s proposed “One Big Beautiful Bill” is a splashy centerpiece of his second‑term agenda—packed with tax cuts, defense spending increases, and Medicaid/SNAP restrictions that will change the lives of Americans from any other president. The CBO and independent analysts warn it’ll add $2.4 – $2.8 trillion to the national debt by 2034 en.wikipedia.org.
The CRFB and Joint Economic Committee put that figure closer to $3.8 – $4 trillion—especially once you add in Trump’s tax cut extensions and spending offsets en.wikipedia.org.
What my grandkids will be paying in interest payments
Right now, U.S. interest payments on our current debt are staggering—and fast approaching $1 trillion a year:
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The Treasury reported $776 billion in interest expense through FY 2025 year‑to‑date jec.senate.gov+15fiscaldata.treasury.gov+15pgpf.org+15.
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CBO projects $952 billion in FY 2025, to over $1 trillion in FY 2026, surging to $1.8 trillion by 2035 pgpf.org+1pgpf.org+1.
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Moody’s and Fitch downgraded U.S. credit, highlighting interest costs now exceeding defense and Medicaid spending en.wikipedia.org+7ctinsider.com+7pgpf.org+7.
How much is owed per person
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Total U.S. debt stands at about $36.2 trillion as of May 2025 fiscaldata.treasury.gov+3usafacts.org+3ourmidland.com+3.
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That works out to roughly $106,000 per person usafacts.org+1investopedia.com+1.
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Interest on that alone is costing Americans – on average – nearly $3,000 per person per year, and those costs will only rise as debt accumulates.
- As a comparison in 2000 the national debt was 5.67 trillion or $20,179 per person.
The Bigger Picture: Burdening Future Generations
1. Opportunity Lost
Every borrowed dollar diverted to interest is a dollar not invested in schools, infrastructure, or R&D. CRFB estimates interest alone will outpace defense spending by trillions over the next decade . If you have borrowed money you know that what you spend on interest and paying back the debt comes out of what you have available for other things. It is the same with the Federal Government.
2. More Debt = Less Flexibility
Today’s deficit stunts tomorrow’s policy options. When a crisis hits—a recession, a pandemic, regional war—our fiscal toolbox will be dangerously empty. It is just like you. If your house, car and credit card payments are eating up most of your income and something breaks, your ability to fix it is limited because of your other debts.
3. The Rich Can Afford to Help
Trump’s budget is built on extending tax cuts that benefit primarily the wealthy—without offsetting revenues. Let high-income earners pick up more of the tab and restore balance, instead of forcing future generations to pay for today’s choices.
This is one of my major complaints with this bill. Those in the lower income brackets are going to loose resources that they need, while the upper income brackets are getting a tax break. In other words those who can least afford it are being asked to bear the cuts while those that have the money are being asked to help less.
Time to Live Within Our Means
It’s basic: you don’t spend money you don’t have, and governments are no different. If we truly cared about our kids and grandkids:
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We’d cut low-priority spending (with safeguards for the vulnerable).
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We’d restore tax fairness—letting higher earners contribute a little more.
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And we’d trim the national debt, not double down on it.
Final Take
Trump’s "Big Beautiful Budget" isn’t beautiful—it’s defiant fiscal malpractice. It’s a reckless gamble on debt that threatens to squeeze opportunities out of future Americans. We deserve a government that prioritizes fiscal discipline and secures financial freedom—not one that mortgages that freedom for short-term headlines.
What you can do
We are at the 11th hour but it is still not too late. Call and write your Senator and Congressmen, do both. Tell them how you feel. If you feel anger, like I do, let them know. If they plan to run again, they need your vote. If enough people reach out they will realize that maybe this bill is not good for them. We already know it is not good for the country. If you don't know your Senator or Congressmen, a quick Google search will give you their phone number and email address.
I encourage you to write and call TODAY. Tomorrow may be too late.
Your comments are welcome. Love to hear what you think. Is it time to become fiscally responsible or is it too late?