Learning About Congressional Budgeting
Charting America’s Budget A Tale of Reconciliation, Rescissions, and Deficit Debates Before we get into the heart of this lesson, let's review how a bill becomes a law. https://www.youtube.com/watch?v=SZ8psP4S6BQ In the heart of Washington, D.C., in June 2025, a fiscal tempest brews, captivating lawmakers, analysts, and citizens. H.R. 1, the “Big Beautiful Bill,” a daring reconciliation bill passed the House, promising to extend Trump tax cuts and carve $1.6 trillion from federal spending. Yet, the Congressional Budget Office (CBO) sounds a warning, estimating a $4 trillion deficit increase, igniting fierce debate. Meanwhile, a “DOGE rescissions package,” driven by the Department of…
