menu_open Columnists
We use cookies to provide some features and experiences in QOSHE

More information  .  Close

GOP fears Trump debt bomb

3 5
28.05.2025
*{box-sizing:border-box}body{margin:0;padding:0}a[x-apple-data-detectors]{color:inherit!important;text-decoration:inherit!important}#MessageViewBody a{color:inherit;text-decoration:none}p{line-height:inherit}.desktop_hide,.desktop_hide table{mso-hide:all;display:none;max-height:0;overflow:hidden}.image_block img div{display:none}sub,sup{font-size:75%;line-height:0}#converted-body .list_block ol,#converted-body .list_block ul,.body [class~=x_list_block] ol,.body [class~=x_list_block] ul,u .body .list_block ol,u .body .list_block ul{padding-left:20px} @media (max-width:620px){.desktop_hide table.icons-outer{display:inline-table!important}.image_block div.fullWidth{max-width:100%!important}.mobile_hide{display:none}.row-content{width:100%!important}.stack .column{width:100%;display:block}.mobile_hide{min-height:0;max-height:0;max-width:0;overflow:hidden;font-size:0}.desktop_hide,.desktop_hide table{display:table!important;max-height:none!important}.reverse{display:table;width:100%}.reverse .column.first{display:table-footer-group!important}.reverse .column.last{display:table-header-group!important}.row-10 td.column.first .border,.row-12 td.column.first .border,.row-8 td.column.first .border{padding:5px 5px 15px 25px}.row-10 td.column.last .border,.row-12 td.column.last .border,.row-14 td.column.last .border,.row-8 td.column.last .border{padding:5px 20px 25px 5px}.row-14 td.column.first .border{padding:5px 5px 15px 25px;border-bottom:15px solid transparent}}
Welcome to The Hill's Business & Economy newsletter

{beacon}

Business & Economy

Business & Economy

The Big Story

Trump’s ‘debt bomb’ shakes Senate GOP

Some GOP senators fear that President Trump’s “big, beautiful bill” is fueling jitters in the bond market amid concerns the package fails to rein in federal spending in a substantial way over the next decade.

© The Associated Press

They worry that if Republicans pass Trump’s bill on party-line votes in both chambers, they will get blamed for heaping trillions of dollars onto the debt and the economic consequences that may follow in the future.

“I think we’re having trouble selling our long bonds already,” warned Sen. Rick Scott (R-Fla.), who cited the rising interest rates.

Scott is one of at least four Senate Republican conservatives who are sounding the alarm over the long-term fiscal implications of the 1,100-plus page budget reconciliation bill that passed the House.

“You saw the Japanese bond market is in trouble. You saw the American bond market is in trouble. Inflation is not coming down; interest is not coming down. That means we’ve got to balance the budget,” he added.

Rep. Thomas Massie (Ky.), who was one of only two Republicans to vote “no” on the House bill, called the package a “debt bomb ticking.”

He warned it “dramatically increases deficits in the near term” while promising fiscal reforms “five years from now.”

“Where have we heard that before?” he asked.

The Hill’s Alexander Bolton has more here.

 

Welcome to The Hill’s Business & Economy newsletter, I'm Aris Folley — covering the intersection of Wall Street and Pennsylvania Avenue.

 

Did someone forward you this newsletter? Subscribe here.

Essential Reads

Key business and economic news with implications this week and beyond:

 

US housing finance chief tells Powell to lower interest rates

The director of the Federal Housing Finance Agency (FHFA) took to social media Monday to tell Federal Reserve Chair Jerome Powell that it’s time to resume the central bank’s interest rate cuts.

© The Hill